GRAND RAPIDS, MI -- Universal Forest Products, Inc. announced that a subsidiary of the Company has purchased certain assets of Haleyville, Ala.-based MSR Forest Products, LLC, a supplier of roof trusses and cut-to-size lumber to the region's manufactured housing producers.
The purchase was completed on May 16, 2012. The move allows Universal to enhance its capacity utilization and reduce costs as the Company merges its existing Haleyville, Ala., operations with the operations of MSR. In addition to its Alabama facility, MSR has a plant in Waycross, Ga., which also is a part of the transaction. In 2011, MSR had annual sales of $10 million.
"MSR has been a strong company that has grown its success with great determination and skill," said Matthew J. Missad, CEO of Universal Forest Products, Inc. "However, with shrinking volume in the manufactured housing arena, it was difficult to maintain efficiencies and create profitable business. This move will benefit both companies. In addition, it allows Universal to underscore our commitment to maintain our leadership position in the industry in which we got our start, manufactured housing."
"We will grow upon MSR's long history of success and we will serve their customer base seamlessly, offering the quality and service for which Universal is known," Missad added.
Said Richard Roberson, managing partner of MSR: "We entered into this agreement because we knew our valued customers would be well-served by Universal, which has grown its reputation for delivering excellence over nearly six decades. This is the right move for the industry, for our company and for the customers we've proudly served for so many years."
Roberson and another MSR principal, Eddie Gamble, will stay on as consultants to the Universal operation for five years.