Universal Forest Products is now UFP Industries
Universal Forest Products, Inc. reported that it has completed the reorganization of its operations and is now operating as UFP Industries.
The Grand Rapids, Mich.-based supplier and manufacturer first announced the change this past August and said that the new name more accurately describes the company.
“We are not just a forest products or wood company anymore,” said CEO Matthew Missad. “Over the years, we have evolved from a lumber wholesaler to a mixed materials manufacturer and solutions provider serving thousands of business customers.”
According to Missad, UFP Industries’ new segments -- UFP Retail, UFP Construction and UFP Industrial -- will be much more focused on their individual markets. “With the leadership teams now in position, we expect more speed to market, better product and customer alignment and more efficient capital utilization,” he said.
UFP Industries has approximately 170 locations and 14,000 employees around the world. Prior to the reorganization, UFP affiliates were organized by region; now they are organized by market.
The company will seek shareholder approval for the change to its corporate name at its next annual meeting of shareholders in April 2020 and will continue to trade on the NASDAQ exchange under the UFPI ticker symbol.
In conjunction with the reorganization and name change, the company has updated its website, ufpi.com, with business segment information and introduced new branding that includes a modernized version of its tree logo.
“Our tree logo is deeply rooted in our 65-year history and is well known in our industry as a symbol of excellence,” said Missad. “Our updated logo captures our heritage of performance while pointing to further growth to come.”
The Grand Rapids, Mich.-based supplier and manufacturer first announced the change this past August and said that the new name more accurately describes the company.
“We are not just a forest products or wood company anymore,” said CEO Matthew Missad. “Over the years, we have evolved from a lumber wholesaler to a mixed materials manufacturer and solutions provider serving thousands of business customers.”
According to Missad, UFP Industries’ new segments -- UFP Retail, UFP Construction and UFP Industrial -- will be much more focused on their individual markets. “With the leadership teams now in position, we expect more speed to market, better product and customer alignment and more efficient capital utilization,” he said.UFP Industries has approximately 170 locations and 14,000 employees around the world. Prior to the reorganization, UFP affiliates were organized by region; now they are organized by market.
The company will seek shareholder approval for the change to its corporate name at its next annual meeting of shareholders in April 2020 and will continue to trade on the NASDAQ exchange under the UFPI ticker symbol.
In conjunction with the reorganization and name change, the company has updated its website, ufpi.com, with business segment information and introduced new branding that includes a modernized version of its tree logo.
“Our tree logo is deeply rooted in our 65-year history and is well known in our industry as a symbol of excellence,” said Missad. “Our updated logo captures our heritage of performance while pointing to further growth to come.”