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
Improved U.S. Housing Good News For Lumber Industry
A new report shows some of New Brunswick's wood products manufacturers could soon experience a rebound, due to an improving housing market south of the border. A report released by Scotiabank points out an increased demand for wood products in the U.S. According to...
Reopened Wyoming Mill Will Provide 80 New Jobs
A sawmill will reopen in Saratoga in December with a new owner and more than 80 new job opportunities. The mill, now known as Saratoga Forest Management, was purchased by Gary Ervin of Oregon in April 2011. Bob Jensen, CEO of the Wyoming Business Council, said an...
Warm Springs Mill Operators Say Layoffs Are Temporary
Warm Springs Mill Operators Say Layoffs Are TemporaryLaid-off Warm Springs Forest Products employees will be called back to work early next year after equipment and facility improvements are completed, a company official said last week. State officials said Tuesday...
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.