Western Magazine for WPA Members September 2019 MagazinePallet

Pallet Industry Consolidation Continues for PalletOne, HuronCapital and UFPI

SEPTEMBER 2019

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WPA EXECUTIVE

DIRECTORS

Caroline Beach-SkinnerSukhi BrarBaxter GladdenRod LucasSteve MazzaRalph Rupert ASSOCIATE DIRECTORS

Ryan GreenwoodTod KintzDerek SampsonJason Saunders Please direct inquiries about the WPA toDavid Sweitzer, Executive Vice-PresidentP.O. Box 1095, Camas, WA 98607Ph. 360 335-0208Email:wpa@westernpallet.orgWebsite:www.westernpallet.org

www.westernpallet.org

W P A M A G A Z I N E

PresidentVice-PresidentSecretary/TreasurerPast PresidentExecutive VP

Annie MonteyBeatrice VasquezScott GutierrezLindsey Shean-SnowdenDave Sweitzer

WesternPallet

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North American SoftwoodPrices

Softwood prices listed as of Sept.11, 2019, courtesy of NRCAN.

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Sierra Pacific 70thThis year marks the 70thanniversary for WPA-member SierraPacific Industries

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Diesel Fuel Update

New information updated August 26,2019.

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Residential Construction

UpdateU.S. housing start information forAugust 2019.

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SEPTEMBER 2019

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Cover Story:

Pallet IndustryConsolidation Continues

18, 20, 30

Other Features

18 Pallet One Acquires Bay Wood Products

20 Huron Capital Merges Northwest Pallet Services and Prime Woodcraft

22 SUNDOG® RFID Tags for Rough Wood Surfaces

23 NAFTA Panel Says ITC Can't Show Harm

24 Top 5 Reasons for Business Loan Declines

25 Automation and Pallets: Modern Materials Handling’s Latest Survey

27 Social Media Roundup

30 UFPI Acquires Pallet USA

31 NWPCA Releases Pallet Design System™ 6.0

32 News Briefs

33 Upcoming Events

Advance LumberCorali - USAGo Fast ManufacturingWeaver Wood, LLCNorth American Forest Products

Northwest HardwoodsPallet Machinery GroupPRSTimber Products InspectionViking Engineering & Development

Western Pallet Advertising Sponsors

North American Softwood Prices Weekly softwood lumber prices to September 11, 2019 are shown below, sourcedat http://www.nrcan.gc.ca/forests/industry/13309.

SEPTEMBER 2019

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SEPTEMBER 2019

Membership DriveThis year's membership drive isalready in motion.

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DECEMBER 2018

DECEMBER 2018 SEPTEMBER 2019

Sierra Pacific Industries Celebrates 70Years of Service to the Wood Products

Industry

Congratulations to WPA-member SierraPacific Industries (SPI) on celebrating 70years in business. The company wasfounded in 1949 by Archie Aldis “Red”Emmerson and his father when theyleased a sawmill together and formed R.H. Emmerson & Son. Further expansionled to the incorporation of Sierra PacificIndustries in 1969. Today, the Anderson,California-based company owns andmanages about 2 million acres oftimberland in California and Washington.The third-generation family ownedcompany is one of the largest privatelandholders and lumber producers in theU.S. Operations include 14 sawmills, twomillwork facilities, one remanufacturingplant, two bark plants, seven cogenerationfacilities, and three windows and doorsmanufacturing plants. The companyfollows Sustainable Forestry Initiative®

(SFI) forest management practices. According to a tribute in The Lumber Log(West Coast Lumber & Building MaterialAssociation), “Red has upheld his father’sphilosophy of treating each team memberwith respect and dignity, promoting acompany culture of transparency, andgiving them the tools and opportunitiesto excel at their work.” The Sierra Pacific Foundation wasestablished by the family in 1979 and ismanaged today by Red's daughter CarolynDietz. To date, the Foundation hasprovided nearly $8 million in highereducation scholarships. Source: The Lumber Log

Online Hotel Booking Now Openfor the 2020 WPA Annual Meeting

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SEPTEMBER 2019

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Residential Construction, August 2019

Released September 18, 2019 (www.census.gov)

Housing StartsPrivately-owned housing starts in Augustwere at a seasonally adjusted annual rateof 1,191,000. This is 12% above therevised July estimate of 1,215,000, andis 6.6% above the August 2018 rate of1,279,000. Single-family housing startsin August were at a rate of 919,000; thisis 4.4% above the revised July figure of880,000. The August rate for units inbuildings with five units or more was424,000.

Housing Completions Privately-owned housing completions inAugust were at a seasonally adjustedannual rate of 1,294,000. This is 2.4%above the revised July estimate of1,264,000 and is 5% above the August2018 rate of 1,232,000. Single-familyhousing completions in August were at arate of 945,000; this is 3.7% above therevised July rate of 911,000. The July totalfor units in buildings with five units ormore was 338,000.

The U.S. Census Bureau and theU.S. Department of Housing andUrban Development jointlyannounced the following newresidential construction activityfor August 2019: Building Permits Up 7.7%Privately-owned housing unitsauthorized by building permits inAugust were at a seasonallyadjusted annual rate of1,419,000. This is 7.7% abovethe revised July rate of 1,317,000and is 12% above the August2018 rate of 1,267,000. Single-family authorizations in Augustwere at a rate of 866,000; this is4.5% above the revised Julyfigure of 829,000. Authorizationsof units in buildings with fiveunits or more were at a rate of509,000 in July.

SEPTEMBER 2019

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EPA Diesel Fuel Update Updated September 23, 2019 West Bumps Sales Slump

Pending Home Sales Climb1.6% in August Pending home sales increased inAugust, a welcome rebound aftera prior month of declines,according to the NationalAssociation of Realtors®. Each ofthe four major regions reportedboth month-over-month growthand year-over-year gains incontract activity. “It is very encouraging thatbuyers are responding toexceptionally low interest rates,”said Lawrence Yun, NAR chiefeconomist. “The notable salesslump in the West region overrecent years appears to be over.Rising demand will reacceleratehome price appreciation in theabsence of more supply.” All regional indices were up fromJuly, with the highest gain in theWest region. “With interest rates expected toremain low, home sales areforecasted to rise in the comingmonths and into 2020,” said Yun.“Unfortunately, so far in 2019,new home construction is down2.0%. The hope is that housingstarts quickly move into highergear to meet the higher demand.

SEPTEMBER 2019

Online registration beginsOctober 1!

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America’s Largest New PalletManufacturer, PalletOne Inc. Acquires

Alabama-Based Bay Wood ProductsPalletOne More Than Doubles Its Wood Pallet Manufacturing Capacity In Alabamawith Acquisition

ROBERTSDALE, Ala. – PalletOne, Inc.,America’s largest new palletmanufacturer, has purchased Bay WoodProducts Inc., a pallet and cratemanufacturing business located inBaldwin County on the Alabama GulfCoast. “In my heart of hearts, I knew PalletOnewas the best option for our employees,customers and the community,” saidJimmy Wilson, founder and a formerowner of Bay Wood Products. “Theyunderstand what we do and they knowour industry. As I was looking atsuccession plans, it was very important tome to leave our employees in goodhands.” Wilson, who founded Bay Wood Productswith a group of investors 25 years ago,said he would remain as general managerof the Baldwin County business. BayWood Products is a full-servicemanufacturer of wooden pallets, rough-cut lumber, dunnage and crates with arecent expansion into the biofuel andmulch markets. The company is one of thelargest single-site manufacturers ofwooden pallets in Alabama andMississippi, specializing in customer-designed solutions to wood packing

material needs. Since 1994, the companyhas crafted pallets of all shapes and sizesand specifications for big industry, largepetroleum companies, and chemicalcompanies, shipping agencies,manufacturers, farmers of sod and othercrops. PalletOne owns another palletmanufacturing plant in Selma, Alabama. “We are very pleased to welcome such awell-run operation in the southernAlabama market,” said PalletOne CEOHowe Wallace. “Jimmy and the Bay Woodteam are well respected in our industry.It’s an honor to move forward with them.” Founded Aug. 31, 1994, exactly 25 yearsto the day of the acquisition, Bay WoodProducts serves clients across the U.S.with a global reach. Producing 190truckloads of pallets per month, the 20-acre facility manufactures woodenpallets, rough-cut lumber, custom crates,and mulch. In recent years, sales havereached $20 million annually. With the acquisition, Wallace said, thesouthern Alabama market could see anexpansion of products and services,

SEPTEMBER 2019

including industrial recycling. Speakingto a group of Bay Wood employees in mid-August, Wilson and Wallace answeredquestions together about the pendingsale, then Wallace shared PalletOne’smission: “We strive to be the best blue-collar employer in the markets we serve.” Wooden pallets are an $11 billion annualindustry in the United States, employingabout 67,000 men and women, accordingto 2016 data from the National WoodenPallet and Container Association. On anygiven day, there are approximately 1.8billion wood pallets carrying goods in theU.S.

Organized in 2001, PalletOne nowoperates 18 locations in nine states andmanufactures new pallets, provides palletrepair programs, recycles used pallets andproduces a variety of other woodproducts. With national headquarters inBartow, Florida, PalletOne’s operationsinclude Industrial Recycling Services,SunOne Logistics, and Sunbelt ForestProducts Corporation, one of the largestproducers of pressure-treated lumber andresidential fencing in the Southeast.Through its combined operations,PalletOne employs more than 1,500people across 23 locations. Its annualrevenues exceed $500 million annually.

PalletOne CEO Howe Wallace (left) with Bay Wood Products founder Jimmy Wilson(right) announced the acquisition of Bay Wood Products by PalletOne Inc.

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Huron Capital Merges NorthwestPallet Services and Prime Woodcraft

Huron Capital, a leading lower-middle-market private equity firm, hasannounced an additional equityinvestment in its industry-leading palletplatform, Northwest Pallet Holdings, LLC.Through this investment, Huron iscombining Northwest Pallet and PrimeWoodcraft Inc. The combined companywill be headquartered in Schaumburg,Illinois. Financial terms of the transactionwere not disclosed.

Northwest Pallet is a Schaumburg, Illinois-based pallet solutions company with morethan 30 years of experience in recycling,manufacturing and repairing new andused pallets of various shapes and sizes.Prime, an innovative and growing palletmanagement service provider withnationwide coverage, is based inBrunswick, Ohio. “This merger allows us to bring togethertwo great commercial teams and leverage

SEPTEMBER 2019

our combined capabilities to moreeffectively serve our clients,” saidNorthwest Pallet President and CEO, JackDonnell, “We believe Prime’s innovativeapproach to pallet managementsolutions, along with Northwest Pallet’sresources and infrastructure, will enableus to provide unique solutions and scaleto our customers while continuing toexpand the combined business.” Donnell will serve as President and CEOof the combined company while Primefounder and CEO Ansir Junaid will serveas a board member and significantshareholder in Northwest Pallet. “I’m confident in the choice to partnerwith Northwest Pallet, a Huron Capitalportfolio company, for several reasons.Both of our companies havecomplementary capabilities that fittogether nicely and are expected to serveas a growth platform moving forward,”said Junaid, who will be actively involvedin the combined company post-closing.“I’m proud to have been part of buildingand growing Prime, and I remaincommitted to ensuring customerrelationship success well into our future.” “This strategic merger creates a platformthat substantially increases NorthwestPallet’s scale, providing a partner forcustomers that is among the largest in themarketplace,” said Huron Capital VicePresident Matt Lacki. “The innovativeindustry approach developed by Prime isexpected to add more than just scale to

the combined company. Prime’s expertiseand customer collaboration is anotherreason why we are thrilled that Junaid willremain actively involved in the companygoing forward.” Based in Detroit, Huron Capital is anoperationally-focused private equity firmwith a long history of growing lowermiddle-market companies through ourproprietary ExecFactor® and buy-and-build investment models. Over the pasttwo decades, Huron Capital hassuccessfully established six investmentfunds totaling approximately $1.8 billionin capital and has completed over 175transactions throughout North America.Huron Capital portfolio companies havehad aggregate annual revenuesexceeding $3.0 billion, 15,000employees and operated over 325facilities. Huron Capital targets bothcontrol and non-control equity stakes infundamentally sound companies that thefirm believes can benefit from itsoperational approach to creating value. These transactions typically take the formof equity recapitalizations, familysuccession transactions, market-entrystrategies, corporate carve-outs, andmanagement buyouts of companieshaving revenues up to $200 million.Huron Capital’s sector focus includesbusiness services, consumer products &services and specialty industrials.

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SUNDOG® RFID Tags for Rough WoodSurfaces

Until now, applications such aslogs, lumber loads, pallets, utilitypoles and railroad ties, as well aslive trees, have not had any UHFRFID tag tailored for thesedemanding applications,according to Utility Composites,Inc. Utility Composites, Inc hasintroduced a ruggedized, long-distance, passive tag that can beinstantly installed: theSUNDOG® UHF RFID staple fortracking assets with rough woodsurfaces. SUNDOG® tags areruggedized to withstand cookingbaths used in veneer production,kiln drying cycles in lumber, aswell as creosote pressure-treating processes for utilitypoles and railroad ties, withoutdegradation of readability.SUNDOG® staples will not tripmetal detectors or damagecutting blades and can be left inthe wood.

SUNDOG® is an innovative UHF RFID tagmade of high strength, aerospace-gradecomposite materials. SUNDOG® tags arestaples that are collated in strips of 25tags and can be instantly inserted into thewood surface with a custom stapler forsecure attachment. Flat, adhesive-backedRFID tags do not stick to rough wooden

surfaces. Expensive, ruggedized tags taketime and effort to screw each tag into thewood surface. Whether on a log stored ina yard or traveling down the highway inhigh wind and rain, SUNDOG® tags stayfixed to their asset. Instant attachment ofSUNDOG® collated tags saves preciouslabor time. Visit www.sundog-rfid.com.

The Membership Drive Is On!

This year's membership drive is now underway, and as always, thecompetition will be intense. In addition to valuable cash prizes, the winner now also receives themembership plaque, presented at the Annual Meeting. With the highlysuccessful 2019 Annual Meeting now in the books, it is time to worktoward 2020.

A NAFTA panel has given the United Statesthree months to review its tariffs onCanadian softwood lumber imports,according to a report in the National Post. The panel participants — including threeCanadians and two Americans — in aruling this month, said they couldn’t agreewith the U.S. International TradeCommission that there was evidenceCanadian imports were causing injury tothe U.S. industry. The body asked thecommission to reconsider the evidence itused to reach its decision within 90 days. “This decision supports what Canada hasbeen saying all along: U.S. duties onCanadian softwood lumber are unfair andunwarranted,” said Foreign AffairsMinister Chrystia Freeland in a statement.“The panel’s decision is an important stepin the right direction in having theseduties on Canadian exports removed andthe sums collected reimbursed.”

The panel noted that the U.S. softwoodindustry was in the midst of its mostprofitable period ever, which made it hardto accept the conclusion that Canadianwood was harming it. In April 2017 the U.S. imposed dutiesaveraging about 20 percent on mostCanadian softwood exports. At the time,it alleged that Canada was unfairlysubsidizing its industry as well as dumpingwood into the U.S. at unfair prices.Subsequently, the American trade-commission determination that Canada’sindustry was causing harm to the U.S.producers. “We’ve fought these battles before andwe won,” Susan Yurkovich, president ofthe B.C. Lumber Trade Council told theNational Post, commenting that in the lastsoftwood lumber dispute it took threerulings from the NAFTA panel to convincethe commission to back down. “They arethe same arguments this time. But it takesa long time.”

NAFTA Panel Says ITC Can't ShowHarm

SEPTEMBER 2019

Top 5 Reasons for Business LoanDeclines

Those of us in the Financial Servicesindustry hear it all the time. Smallbusiness owners stressing over the lackof enough capital resources, particularlywhen it comes to borrowing money. Thereare many solutions to this problem, whichI'll briefly mention at the end of the article,but I thought it useful for entrepreneursto understand some of the reasons forlending institutions turning downrequests for money, so that they can tryto make their businesses attractive tolenders. Credit DeficiencyLet's get the most obvious one out of theway first. Banks, being risk averse andregulated, have strict credit requirementsfor lending. These apply to both yourpersonal and your business credit, usuallymeasured by a credit score. Latepayments, high balances relative to yourcredit limit, lack of any credit history,collection accounts/judgements,excessive inquiries from applying forcredit too often, and foreclosures/bankruptcies damage credit scores. Ifyour score falls below the bank’sminimum requirement you will not beapproved for a loan. Lending LimitsOne area regulations addressed bybanking regulations is lendingconcentration. Banks are not allowed to

exceed certain percentages of their totalloans for any one individual or entity.Similarly, they monitor loanconcentration in asset classes, industries,and loan types (residential mortgages,commercial mortgages, asset based, linesof credit, etc.). Some banks forgo certainloan types altogether. If your loan requesthappens to fall outside of their currentparameters/limits they cannot approve it. CollateralThere are too many different reasons forthis to go into, but if the type of collateralyou offer as security for the loan is notcurrently acceptable to the bank they willnot lend. This can change within each bankover time and does vary from bank to bank. Portfolio AdjustmentsPart of this goes back to lending limits, butit also involves risk mitigation andbalancing of assets. Banks arecontinuously monitoring their entire loanportfolio to insure they comply withfederal regulations, are appropriatelydiversified, and meet internal profitabilityrequirements. That means thatadjustments are continually being madeby adding or eliminating types of loansthey fund. As an example, the bankdeclines an application because they havetoo much exposure in that applicant’sindustry.

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Covenant BreachThis is normally missed by borrowers.Every loan contract has clauses requiringthe borrower to meet certainrequirements. Everyone is aware ofpayment requirements. However, manycontracts also contain financialrequirements and clauses that forbidcertain actions or conditions. An exampleis maintaining a minimum debt to incomeratio. There are many others. You mayhave inadvertently violated one of thesecovenants. That prevents you from anyfurther borrowing and may result in yourloan being called. Because banks are so heavily regulated ,they must be careful to ensure that theyare complying as well as being diligent inreducing their risk exposure. They are,

after all, responsible for proper care oftheir customer’s money. This can makeit difficult for some businesses to qualifyfor a loan. The alternative financingindustry offers a variety of potentialsolutions, enabling those businesses tohave access to the capital needed. Theyare usually not regulated so they havemore freedom in choosing the type ofloans they fund. They also tend tospecialize in a certain type of businessfinancing, allowing them to use expertiseto customize a loan to a business’ need. In short, if your business is not quite readyfor bank lending, an alternative financingsolution may be the answer. This article was written by Brian Dineen,CEO, Trinity Capital Partners.

Automation and Pallets: ModernMaterials Handling’s Latest Survey

No surprise, automation is driving theneed for better quality pallets, accordingto a September 2019 report from ModernMaterials Handling. Bottom board issuesstood out as being the biggest issueidentified in their survey. Laszlo Horvath,director of the Center for Packaging andUnit Load Design at Virginia TechUniversity, commented that pallet quality

problems are increasingly frequentlyencountered as companies move toautomation. They are concerned that thepallets they have been using in the pastwill pose problems as they migrate toautomation. The primary culprits, he said,are low-quality pallets that clog and jamautomated systems.(Cont'd on Page 26)

SEPTEMBER 2019

Attention to collaborative pallet design as part of the customer's automation projectcan help your pallet relationship avoid unnecessary “bumps” on the conveyor andbumps in the road for the finished system. (Photo credit: Millwood)

(Cont'd from Page 25)In today’s incredibly time-sensitivedistribution environment, the articlenotes, “where customers won’t wait formore than a day or two (if that) for theirorders, these setbacks could mean thedifference between staying competitiveand falling behind.” The Modern Materials Handling surveydetermined that the biggest pallet-related issue concerned bottom boardsthat resulted in jams or faults. Accordingto the article, 53% of respondents dealwith this problem on a daily or weeklybasis, while another 25% deal with it atleast monthly.

Around 21% of respondents say thatloose or broken pallet componentsgetting caught in the rollers, while otherleading quality issues include theincorrect placement of bottom deckboards, poor quality or missing bottomboards (31%) and other missing ordamaged components (25%). “The more lower quality pallets you buy,the more flexibility you need to have inyour system,” Horvath told ModernMaterial Handling. “The higher the levelof automation you have in place, the lowerthe levels of flexibility.”

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SEPTEMBER 2019

Social Media Roundup What's new in social? Click on images to check.

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SEPTEMBER 2019

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UFPI Acquires Pallet USA, BoostingIndustrial Capacity and Services in the

Midwest

GRAND RAPIDS, Mich. – Universal ForestProducts, Inc. has announced that one ofits affiliates has acquired Hartford,Wisconsin-based Pallet USA, LLC. Theacquisition expands Universal’sindustrial product capacity and servicesin the Midwest. Pallet USA operates one facility thatmanufactures pallets and crates. Thecompany also distributes industriallumber and sheet stock and providesservices such as heat treating, palletremoval and recycling, custom productdesign, delivery and managed inventoryprograms. Bruce Church, president andCEO of Pallet USA, will remain with theoperation as general manager ofoperations through 2019, then transitioninto a consulting role to assist with newsales efforts to national customers.According to the Pallet USA website, thecompany has a fleet of over 80 vehicles.Its manufacturing capabilities includehigh and low-volume, fully automatedpallet and skid assembly, as well asprecise custom designs of woodpackaging and crating. It also has multipleheat treatment chambers on site for ISPM15 certification“We’re excited to welcome Pallet USA tothe UFP family of companies,” statedMatthew J. Missad, CEO of UniversalForest Products. “The acquisition allows

us to grow our presence in the Milwaukeearea and will help us serve manufacturersthat have a larger regional, national orinternational presence. Pallet USA alsooperates a profitable pallet reclamationbusiness, providing customers with a cost-effective solution for their wood palletneeds, that could be scaled to other UFPfacilities. Bruce Church and his team havedone an excellent job growing theirbusiness, and we’re excited to help themachieve their full potential.” “As a UFP company, we see greatopportunities for serving both Pallet USAcustomers and existing Universalcustomers,” said Bruce. “We will be ableto enhance our presence in the marketwhile adding more product and serviceofferings. Universal’s size will also allowus to provide our employees with greatercareer opportunities. This is a great timein the history of our company.”

SEPTEMBER 2019

NWPCA Releases Pallet DesignSystem™ 6.0

Ground-Breaking Unit Load Design Tool Minimizes Damage, Maximizes Profit ALEXANDRIA VA, September 25, 2019 –The National Wooden Pallet & ContainerAssociation (NWPCA) announces therelease of PDS 6.0, the most advancedsoftware tool in the world that considersthe interactions between a flexible woodpallet and corrugated boxes. The tool usesworld-leading science and modeling thatallows pallet designers to prevent cargodamage, while optimizing cost andmaterial efficiency. “Unit Load for Boxes takes technologynormally associated with space flight,race cars, and jet engines and uses it togain insight into wooden pallet and unitload design,” commented Kristen DeLack,PE, PDS structural engineer. “We’reexcited to take all this know-how and putit into the hands of wooden palletmanufacturers,” added Brent McClendon,NWPCA President and CEO. Jordan Piland, NWPCA’s Board Chair said,“Expect to see more from the PDSdevelopment team for 2020. PDS 6.0 UnitLoad for Boxes is just the first installmentof system-level unit load design andanalysis tools in PDS; drums, plastic pails,and sheet goods will follow.” Pilandadded, “NWPCA and The PalletFoundation investments, totaling nearly$1.5 million over the next two years,advance our industry and benefit each ofour companies, making PDS theinternational language for pallet design.”

For more information on Pallet DesignSystem™ 6.0, read the detailed productrelease.

Pallet Foundation News

The Pallet Foundation has been very activeover the last couple of years investing intools and research to answer ourindustry’s most critical questions, andadvancing the science and understandingof how wood packaging interacts with unitloads. There are "good news" results to shareregarding landfill avoidance landfillavoidance, the economic impact of thewood pallet industry and its carbonfootprint impact. Tools available at the Nature's Packaging website include: - Wood is Environmentally-Friendly - Landfill Avoidance: Wood Waste as a Resource - North American Forests are Sustainable - Wood Packaging is Recyclable Research is also underway regardingwood packaging and unit loads.

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News Briefs

Good sign? Pallet maker plans big expansion The Pallet Factory plans a $3.5 million, 43,000-square-foot expansion that may sayas much about the economy as it does about the 42-year-old Memphis business.“We’re typically a pretty good first indicator of how the economy is doing,”company president Wes Doyle said Tuesday. “Ninety-eight percent of everythingwe touch or use in a day at one point was shipped on a wooden pallet.” Demand for the 40,000 pallets shipped daily by The Pallet Factory has been “very,very strong,” said Doyle, whose father Michael Doyle founded the company in1977. The company has applied for a building permit to add a 40,000-square-footfactory warehouse and 3,000 square feet of office space at its headquarters, 3740Arnold Road. That site is just west of Getwell in the city’s vast industrial district ofSoutheast Memphis. Read more. Alamo Group to purchase Morbark for $352M Stellex Capital Management, a middle market private equity firm, announced todaythat it has entered into an agreement to sell Morbark, LLC, a leading manufacturerof high-performance equipment and after-market parts for the forestry, recycling,tree care, sawmill, land clearing and biomass markets to Alamo Group for $352million. The sale includes all assets and operations of Morbark and its affiliatebrands. Founded in 1957 and based in Winn, Mich., Morbark and its affiliate brands, Rayco,DENIS CIMAF, and Boxer Equipment, produce a full line of brush chippers, stumpcutters, mini skid steers, forestry mulchers, aerial trimmers, whole tree andbiomass chippers, flails, horizontal and tub grinders, sawmill equipment, materialhandling systems, and mulcher head attachments for excavators, backhoes, andskid steers. Read more. Reusable Packaging Association Issues White Paper on Smart AssetTechnologies The Reusable Packaging Association (RPA) has issued an industry white paper toprovide guidance on current technologies for the identification, monitoring andtracking of reusable transport packaging. The report is called A Smarter,Technology-Driven Supply Chain with Reusable Packaging Systems. Read more.

Upcoming Events 10/1/2019 - 10/2/2019 NWPCA Fall Plant Tours, Toronto, Ontario. www.palletcentral.com 10/9/2019 - 10/11/2019 FEFPEB Congress, Hamburg, Germany. www.fefpebcongress.org/ 1/17/2020 - 1/21/2020 WPA Annual Meeting, Rancho Mirage, California www.westernpallet.org 3/4/2020 - 3/6/2020 NWPCA Anual Leadership Conference, Naples, Floridawww.palletcentral.com

SEPTEMBER 2019

In case you missed them...(Click on back issues to read or download)