ProWood® announces price increases

ProWood® announces price increases

Historic raw material Inflation, economic instability force unparalleled pass-along increases

GRAND RAPIDS, MI -- ProWood®, the nation’s leader in pressure-treated wood products, has announced that increases in chemicals and other costs are forcing the company to raise selling prices to its customers by 15 percent to 20 percent.

ProWood Executive Vice President Ryan Kemp said, “Over that last several months we have absorbed broad increases in raw materials costs. We cannot continue to do so while maintaining our commitment to our stakeholders, including our customers, for long-term success. We strive to provide the best value in the market and know that even with these price increases we will be providing an excellent value for our customers.” 

These unparalleled moves reflect pass-along market increases from chemical suppliers who blame global raw material shortages, and instabilities, as well as increasing energy, labor, and logistic costs, Kemp said. Proper price management will ensure continued supply of ProWood products. Specific increases vary depending on geographic region, solutions offered, and market(s) served, he added.

About ProWood

ProWood, a brand of UFP Retail Solutions, LLC, a UFP Industries company, is the go-to choice for lumber treated to the industry’s highest standards. Our strategic locations and wide array of treatment options allow us to provide products that offer exceptional protection from the elements for building professionals and do-it-yourself homeowners. With industry leading warranties and a commitment to innovation, ProWood is at the forefront of education and product knowledge to provide a better overall customer experience.

To learn more about ProWood lumber and treatment technologies, visit www.prowoodlumber.com or call 844-529-5882.

About UFP Industries, Inc (NASDAQ: UFPI)

UFP Industries is a holding company whose operating subsidiaries – UFP Industrial, UFP Construction and UFP Retail Solutions – manufacture, distribute and sell a wide variety of value-added products used in residential and commercial construction, packaging, retail, and other industrial applications worldwide. Founded in 1955, the company is headquartered in Grand Rapids, Mich., with affiliates in North America, Europe, Asia, and Australia. For more about UFP Industries, go to www.ufpi.com.

Contact:

Ryan Kemp

ProWood Executive Vice President

(616) 365-1520