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
Southern Pine Industry Eyes Recovery Signals
During this first half of 2012, some faint glimmers of hope have appeared for the recovery of home construction markets, perhaps in the not-too-distant future. Building permits are up one month, down a bit the next. Indexes measuring builder confidence have reached a...
B.C. Lumber Exports Showing Growth
There is good news on lumber exports for B.C. Minister of Jobs, Tourism and Innovation Pat Bell tells Opinion 250, “China is still looking very good. The first quarter figures show we are up. The last month was a little softer, we were only up 15% and the earlier...
Fire Destroys Another B.C. Mill
Investigators are trying to determine the cause of an unwieldy blaze that tore through a lumber mill in southern British Columbia, the third mill fire the province has seen this year. Huge flames lit up the sky above Absolute Lumber Products mill in Abbotsford, B.C....
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.