GRAND RAPIDS, Mich., Aug. 17, 2016 (GLOBE NEWSWIRE) -- Michael Mordell, a senior executive of Universal Forest Products, Inc. (Nasdaq:UFPI), has been appointed to the position of Executive Vice President of International Operations to lead the Company’s new international division, UFP Global Holdings, Ltd., based in the United Kingdom.
In his new role, Mordell will be responsible for sales, production, distribution and other endeavors related to the Company’s business and operations outside of the U.S., and, ultimately, for growing sales and profitability in the international arena. Mordell is a 23-year veteran of UFPI, and currently leads the Company’s purchasing affiliate.
“Expanding internationally has been among our stated strategies, as we seek to constantly attain new levels of sales and profitability,” said UFPI CEO Matthew J. Missad. “I have great confidence we’ll achieve that with Mike at the helm of the international division. He is a bold and creative leader who has had years of experience and success in our industries and at our company.”
Mordell joined Universal in 1993 as a lumber buyer, and has held leadership positions in purchasing as well as in operations. In 2009, he was named executive vice president of purchasing, the position he currently holds. He will begin his new role on Oct. 1, 2016.
“I am honored by the opportunity to develop a new division that contributes greatly to the sales and profitability growth of Universal Forest Products, Inc.,” Mike said. “I look forward to building the UFP Global organization and team, and to developing and successfully implementing strategies for growth with them. This is an exciting venture and a great time to be at Universal Forest Products as we seek new avenues to build on our success.”
UNIVERSAL FOREST PRODUCTS, INC. (NASDAQ:UFPI)
Universal Forest Products, Inc. is a holding company that provides capital, management and administrative resources to subsidiaries in three robust markets: retail, construction and industrial. Founded in 1955, the Company is headquartered in Grand Rapids, Mich., with affiliates throughout North America and Australia. It posted annual net sales of $2.9 billion in 2015. For more about Universal Forest Products, go to www.ufpi.com.
This press release contains forward-looking statements within the meaning of Section 21E of the Securities Exchange Act, as amended, that are based on management’s beliefs, assumptions, current expectations, estimates and projections about the markets we serve, the economy and the Company itself. Words like “anticipates,” “believes,” “confident,” “estimates,” “expects,” “forecasts,” “likely,” “plans,” “projects,” “should,” variations of such words, and similar expressions identify such forward-looking statements. These statements do not guarantee future performance and involve certain risks, uncertainties and assumptions that are difficult to predict with regard to timing, extent, likelihood and degree of occurrence. The Company does not undertake to update forward-looking statements to reflect facts, circumstances, events, or assumptions that occur after the date the forward-looking statements are made. Actual results could differ materially from those included in such forward-looking statements. Investors are cautioned that all forward-looking statements involve risks and uncertainty. Among the factors that could cause actual results to differ materially from forward-looking statements are the following: fluctuations in the price of lumber; adverse or unusual weather conditions; adverse economic conditions in the markets we serve; government regulations, particularly involving environmental and safety regulations; and our ability to make successful business acquisitions. Certain of these risk factors as well as other risk factors and additional information are included in the Company's reports on Form 10-K and 10-Q on file with the Securities and Exchange Commission.
Lynn Afendoulis Director, Corporate Communications (616) 365-1502
Source:Universal Forest Products, Inc.