PinkWood Ltd.

PinkWood Ltd.

September 11, 2012 17:44 ET

Pinkwood Ltd. Announces the Purchase of A New, Fully Integrated, High Capacity I-Joist Manufacturing Plant

CALGARY, ALBERTA--(Marketwire - Sept. 11, 2012) -

Editor's Note: There is a photo associated with this release.

Pinkwood announced plans to open a new I-Joist manufacturing plant in Calgary, with production scheduled to commence on March 4th, 2013.

The plant will produce I-joists protected with "Pinkshield", a proprietary pink coating, which provides resistance to mould, moisture and fire, using technology developed and perfected in Pinkwood's pilot facility in Calgary over the past two years. The new plant will have an annual capacity of 60 million linear feet ($70 million sales). Pinkwood Ltd. will be the first Joist manufacturer in the world to commercially produce protected joists as part of the standard quality specification.

The entire production will be marketed by Taiga Building Products, and will be primarily sold in Western Canada. John Little, Vice President of Engineered Wood Products at Taiga stated, "I am very pleased with Pinkwood's commitment to produce the most advanced I-Joist on the market, using a highly efficient and cost effective manufacturing process. Taiga is looking forward to being in a position to offer our customers the best possible I-Joist at the best possible price".

"Protecting the wood products we use to build a home's structure just makes sense," stated Mike Holmes, Canada's Most Trusted Contractor. "We have the right technology. We have the right products. Fire-resistance, protection against mould and moisture - this is a no-brainer. Pinkwood should be minimum code." Holmes uses Pinkwood in the construction of Holmes Approved Homes, as well as in his new series, Holmes Makes It Right, premiering on HGTV in the fall. "It's great to see a Canadian company taking the lead," added Holmes. "These product improvements are changing the way we build homes."

Richard Dettbarn, Chairman of Pinkwood stated that "This new development was long overdue. Most of the joists sold in Western Canada have historically been imported from the US and Eastern Canada. Ironically, the wood used to manufacture these joists is largely produced in Western Canada. We ship the wood abroad, and buy back the I-Joists. Now we will perform the value added manufacturing here, using western lumber and western OSB. Perhaps in the not too distant future we will be exporting the finished product," he continued.

About Pinkwood Ltd.

Pinkwood Ltd. is a Canadian owned company, based in Calgary which produces coated I-joists. The company also produces other wood products which are protected by a proprietary coating called "Pinkshield". This coating resists fire, mould and moisture. Pinkwood proudly supports the Canadian Breast Cancer Foundation (Prairies/ NWT) by donating 20 cents for every gallon of "Pinkshield" products sold.

To view the photo associated with this release, click the following link: http://www.marketwire.com/library/20120911-800pink.jpg

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