Universal Forest Products, Grand Rapids, Mi., has completed the reorganization of its operations and is now operating as UFP Industries, a name that more accurately describes the company today.
“We are not just a forest products or wood company anymore,” said CEO Matthew J. Missad. “Over the years, we have evolved from a lumber wholesaler to a mixed materials manufacturer and solutions provider serving thousands of business customers. Our new segments—UFP Retail, UFP Construction, and UFP Industrial—will be much more focused on their individual markets, and with the leadership teams now in position, we expect more speed to market, better product and customer alignment and more efficient capital utilization.
Prior to the reorganization, UFP affiliates and its 170 locations worldwide were organized by region; now they are organized by market.
The company will seek shareholder approval for the change to its corporate name at its next annual shareholders meeting in April and will continue to trade on the NASDAQ exchange under the UFPI ticker symbol.