Founded in 1995, Integra has two locations in Eastern Australia where it manufactures wood specialty packaging. It also distributes packaging products and performs on-site packaging services for a number of industries. Integra has exclusive distribution agreements for Australia with global packaging enterprises. The company expects sales of $12 million in 2015. The acquisition supports Universal’s plan to grow internationally in markets and with multinational customers it serves in the United States.
“Integra provides a strong opportunity for our foray into new international markets,” said Universal Forest Products CEO Matthew J. Missad. “It has a track record of success and a commitment to providing solutions to its customers. It utilizes creativity that we can expand to our existing markets and, most importantly, it has a talented, hard-working team of people who are driven to grow and prosper.”
“Under the stewardship of Dick Gauthier, our vice president of International Development, we expect big things from partnering up with Integra,” Missad added.
“Being part of the Universal family of companies provides a great opportunity for Integra to expand in Australia and beyond,” said Roger Till, managing director for Integra. “We are eager to help Universal achieve its international growth goals and to be part of its success.”
Universal’s stock rose 35 cents per share to $50.41 a share in the first hour of trading after the acquisition was announced. Prior to the announcement, Universal’s stock had fallen by $2.80 per share, or 5.3 percent, on Thursday, January 15.
Founded in 1955, Universal is a holding company that provides capital, management and administrative resources to subsidiaries that supply wood, wood composite and other products to three markets: retail, construction and industrial. ##
(Graphic Credit: Universal Forest Products)
Article Submitted by Sandra Lane to – Daily Business News- MHProNews.
