UFP Industries Acquires 50% Stake In Dempsey Wood Products
UFP Industries has announced that its affiliate, PalletOne, Inc., has acquired a 50% equity stake in South Carolina sawmill company, Dempsey Wood Products, LLC. The purchase agreement includes options for PalletOne to purchase the remaining 50% of Dempsey after three years.
Founded in 1988 by Ronald Dempsey, Dempsey Wood Products produces kiln-dried lumber, pallet lumber, and other industrial wood products from a single location in Orangeburg, South Carolina. Dempsey had 2021 sales of $68.9 million, and its management team, including Ronald Dempsey and his son, Parker, will continue in management roles.
The industrial lumber that Dempsey produces is a key product for pallet operations and has been in short supply as larger mills produce less of this type of lumber. PalletOne’s investment in Dempsey helps it secure and grow a critical long-term supply source. In 2021, five of Dempsey’s 10 largest customers were UFP affiliates, and nearly 40 other UFP locations could be served by Dempsey.
“Having supplied UFP companies for many years, we’re proud to join forces and contribute to their future growth plans,” comments Parker Dempsey. “Together we can expand our capacity and industrial offerings. This gives our company and our employees exciting new growth opportunities.”
Latest News
U.S. Trade Ambassador Meeting With Canadian Lumber Executives
Canadian softwood lumber executives will meet this week with America's trade ambassador as they brace for the prospect of U.S. tariffs that they say could result in mill closures and layoffs. U.S. Trade Representative Michael Froman will speak with the Canadian lumber...
U.S.-Canada Trade Deal Creating Uncertainty In Timber Markets
The U.S. is in the midst of negotiations with Canada over an agreement on Canadian lumber imports. Many U.S. sawmill owners argue that the Canadian mills receive government subsidies on government-owned lands, making it difficult for the U.S. market to compete. The...
Chile To Provide New Source Of Lumber To U.S. Home Builders
The National Association of Home Builders is reporting today that U.S. home builders just completed four days of talks with Chilean government, trade and industry officials that are geared toward increasing exports of softwood lumber and other wood products to...
Find Us On Social
Newsletter
The monthly Timber Processing Industry Newsletter reaches over 4,000 mill owners and supervisors.
Subscribe/Renew
Timber Processing is delivered 10 times per year to subscribers who represent sawmill ownership, management and supervisory personnel and corporate executives. Subscriptions are FREE to qualified individuals.
Advertise
Complete the online form so we can direct you to the appropriate Sales Representative.