CORAL SPRINGS, FL – Benefiting from $3.4 million in new financing, Eco Building Products Inc. will fill a backlog of purchase orders from major retail customers and increase production capacity for Eco Red Shield Lumber.
The financial agreement will potentially put Eco Building Products in a state of positive cash flow. In addition, the company said it will enter into an expandable revolving credit facility agreement for $1.2 million to support its supply chain, adding that this will allow it to increase its marketing efforts and demonstrate long term sustainability to its customers.
Eco Building Products manufactures treated wood products that are protected from fire, molds, fungus, rot and insects due to the company’s WoodSurfaceFilm and FireResistantCoating, which together make up Eco Red Shield.
Other home improvement and lumber retailers also reported news. Lowe's Companies Inc. announced the release of its 2013 Corporate Social Responsibility Report, which provides a snapshot of Lowe's progress in promoting the well-being of its employees, its communities and the environment.
Weyerhaeuser Co. commenced its exchange offer related to the split-off transaction of its home building business, Weyerhaeuser Real Estate Company. The exchange is in connection with the "Reverse Morris Trust" transaction, announced Nov. 4, 2013. The exchange is expected to be tax-free to participating Weyerhaeuser shareholders.
Hardwood exports showed an increase of 14 percent in March from the prior month to 142.8 million board feet, the second highest monthly total ever recorded. Worldwide demand for North American hardwoods was fairly strong into April, but some markets cooled off in May, particularly in Asia. Chinese purchases slowed as in-country inventories had grown quite large and buyers were hoping for price relief in the summer.
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