Patrick Industries grows to more than 4000 employees
Patrick Industries, Inc. is continuing to grow, and reported more than
4,000 employees for 2017 in an early FDMC 300 report.
Patrick announced that it has completed the acquisition of LMI, Inc.
and related companies. LMI is a designer, fabricator, and installer of
specialty glass, mirror, bath and closet building products to residential
housing and commercial high-rise builders, general contractors, retailers, and recreational vehicle manufacturers in the U.S.
LMI is headquartered in Ontario, California, and operates six manufacturing and distribution centers in California and Nevada and an
additional manufacturing facility in China. The Company projects LMI’s
full-year 2017 revenues to be approximately $75 million. The total cash
consideration paid for LMI was approximately $81 million.
LMI’s specialty building and RV products include multiple lines of
shower enclosures, fabricated glass products, vanity and wall mirrors,
wardrobe doors and hardware systems, and closet organizers and
prices keep Canadian
lumber industry strong,
With record-high lumber prices and
urgent demand from U.S. builders,
Canadian lumber firms haven’t had
to lay off staff or cut production at
all, despite substantial duties on
Canada’s softwood lumber exports
to the U.S. have declined 8 percent
since the duties were imposed, but because the wood itself is worth more,
the industry hasn’t suffered.
“This is another example of a
complex system being upset by side
effects,” said Gene Wengert, the
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