Universal Forest To Acquire National Fiber

(RTTNews) - Universal Forest Products Inc. (UFPI) said Wednesday that one of its subsidiaries has agreed to purchase the assets of National Fiber, a manufacturer of cellulose insulation located in Belchertown, Massachusetts, that serves major markets in the northeastern United States.

The financial terms of the deal were not closed.

"This is a strong complement to our housing and construction business, which continues to improve in the Northeast," said Universal Forest Products, Inc. CEO Matthew Missad. "National Fiber has built a solid business and an excellent reputation as a leader in the cellulose insulation industry, using predominantly recycled materials..."

Through its network of distributors, National Fiber supplies its Cel-Pak and Nu-Wool cellulose insulation to professional cellulose installers throughout New England, New York (from Rochester to Long Island), Pennsylvania, Maryland and Delaware. It also sells special machines necessary to install the products, and offers training and technical support to installers. It was founded in 1978 and has offices and manufacturing and training facilities in Belchertown, Massachusetts. Sales for 2014 are forecast at $12.5 million.