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Hardwood Distribution expands

Aug 21, 2013, Langley - Amid high profits, Hardwood Distribution has purchased Olam Wood Products to take advantage of the rising U.S. market. A wholesale distributor of hardwood lumber and related sheet good products, Hardwood Distribution enjoyed a Q2 profit of $4.4 million, an 85.2% increase over last year's Q2 profit.

Lance Blanco, president and CEO of Hardwoods, credits the growing demand in the U.S. residential market for his company's best quarterly sales and EBITDA results in nine years.

The company is taking advantage of the positive market conditions by purchasing Olam Wood Products in Leland, NC, for $3 million, which brings its number of distribution centres in North America to 32.

For more information, visit http://www.woodworkingnetwork.com/wood-market-trends/woodworking-industry-news/production-woodworking-news/Hardwood-Distributions-Profits-Zoom-85-in-Q2--220535501.html?ref=501.