The September 2022 issue of National Hardwood Magazine is full of fascinating features and news updates from the hardwood industry. This month's issue includes stories on PRS Guitars Limited Partnership, Thompson Appalachian Hardwoods, BID Group and much more.
NEWS DEVELOPMENTS NEWS
NEWS DEVELOPMENTS NEWS ABOUT NORTH AMERICAN INDUSTRIAL HARDWOOD CONSUMERS INCLUDING MERGERS, PLANT EXPANSIONS & ASSOCIATION ACTIVITIES MJB WOOD GROUP OPENS NEW FACILITY MJB Wood Group, LLC, a leading manufacturer and distributor of industrial wood products in Bristol, IN, recently held a grand opening for its new 500,000-squarefoot facility on a 38-acre lot near here, close to the city of Elkhart. The new MJB facility has replaced an older 228,000-square-foot facility in the area that MJB has outgrown. Included is a 100,000-square-foot fabrication area that will allow MJB to offer custom services such as cut-to-size, CNC machining, moulding, kitting and light assembly. MJB uses solid U.S. Hardwoods as a part of its manufacturing process, including Maple, Alder, Poplar and Red Oak. MJB manufactures in the U.S. in Bristol, IN; Clio, SC; El Dorado, AR; and Cedar Hill, TX. The new facility will increase MJB’s ability to meet the sourcing needs of customers in the immediate area and throughout the Midwest, including those in the RV industry. Over the past five years, MJB has experienced tremendous growth in the region, exceeding 18 percent year-over-year revenue growth. The new site employs 100 people, twice the current facility. The industries MJB serves include cabinet manufacturers, furniture and fixture OEMs, recreational vehicle OEMs, RV suppliers – primarily laminators of wood panels, bus, cargo trailers, golf cars, box trucks, millwork OEMs and home improvement retailers, interior and exterior door OEMs and industrials. MJB Wood Group is a 45-year-old company that is owned by AC Summit LLC, the private investment company for members of the Coors family. To learn more, go to www.mjb wood.com. REMODELING MARKET CONFIDENCE DECLINES The National Association of Home Builders (NAHB) released its NAHB/Westlake Royal Remodeling Market Index (RMI) for the second quarter, posting a reading of 77, declining 10 points compared to the second quarter of 2021. “Although most remodelers across the country are still positive about the market, a growing number are starting to experience symptoms of a slowdown,” said NAHB Remodelers Chair Kurt Clason, a remodeler from Ossipee, NH. “Some customers are showing a reluctance to go forward with projects due to the higher costs and delays associated with material shortages, as well as higher interest rates.” The NAHB/Westlake Royal RMI survey asks remodelers to rate five components of the remodeling market as “good,” “fair” or “poor.” Each question is measured on a scale from 0 to 100, where an index number above 50 indicates that a higher share views conditions as good than poor. The Current Conditions Index is an average of three components: the current market for large remodeling projects, moderately sized projects and small projects. The Future Indicators Index is an average of two components: the current rate at which leads and inquiries are coming in and the current backlog of remodeling projects. The overall RMI is calculated by averaging the Current Conditions Index and the Future Indicators Index. Any number over 50 indicates that more remodelers view remodeling market conditions as good than poor. The Current Conditions Index averaged 83, dropping eight points compared to the second quarter of 2021. All three components declined as well: the component mea- Please turn to page 67 16 SEPTEMBER 2022 n NATIONAL HARDWOOD MAGAZINE www.RealAmericanHardwood.org www.RealAmericanHardwood.org SEPTEMBER 2022 n NATIONAL HARDWOOD MAGAZINE 17
