RedBuilt™ acquires certain Standard Structures Inc. assets as SSI exits the engineered wood products
BOISE, Idaho (Aug. 30, 2011) — RedBuilt™, a leading supplier of engineered lumber products, signed an agreement today to purchase certain Standard Structures Inc. (“SSI”) assets, such as equipment, raw materials inventory and intellectual property.
SSI, a leading manufacturer of glulam beams, I-joists and open-web trusses for commercial and multifamily roof and floor systems, plans to exit the engineered wood products business and restructure its remaining business around its core glulam product line. SSI’s president and CEO, Richard Caletti, cited extraordinary financial stress associated with the worst recession since the Great Depression as the cause in SSI’s Aug. 19 announcement.
“Standard Structures has been a strong competitor of ours over the years and we have a great deal of respect for the company and the Caletti family, who founded SSI more than six decades ago,” said RedBuilt president and CEO Kurt Liebich. “It’s unfortunate when any company finds itself in this situation. However, RedBuilt’s acquisition of certain assets related to SSI’s engineered wood products business is a logical fit, and it is in the best interests of both companies and the many customers we both serve.”
RedBuilt will not be manufacturing SSI-branded engineered wood products. “We’re not able to produce Standard Structures products due to building code regulations, so SSI engineered wood I-joists and open-web trusses will no longer be available,” Liebich said. “However, RedBuilt offers many comparable, innovative, industry-leading products, and we hope to work with SSI’s former engineered wood products customers to identify suitable alternatives that satisfy their project requirements.”
RedBuilt has been recognized as a leader in developing wood-based structural solutions since 1960. It offers the industry’s most innovative engineered-lumber products and building systems for commercial, industrial and multifamily applications. RedBuilt’s offerings include composite wood-and-steel open-web trusses, engineered wood I-joists, engineered lumber like LVL, and complementary components, product engineering, and onsite technical support, as well as a range of concrete-forming and scaffold-planking solutions. Visit www.redbuilt.com for more details.
Founded in 1947, Standard Structures Inc. pioneered the glulam beam industry. It designs and manufactures engineered wood products for commercial and multifamily construction. The leading fabricator of heavy timber beams in the western United States, SSI currently fabricates 14 million board feet of glulams per year, as well as 10 million lineal feet of I-joists and open-web trusses. Visit www.standardstructures.com for more details.
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