Idaho Business Review – Weyerhaeuser Unit Sale Leads to Creation of Boise based RedBuilt™
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Weyerhaeuser Co. has completed the sale of its commercial engineered lumber business – which has ties to the former Trus Joist Corp., Boise – to a subsidiary of Atlas Holdings LLC.
Atlas, in partnership with a group of former Trus Joist leaders, plans to base its new business in Boise and rename it RedBuilt.
Weyerhaeuser and Atlas on Aug. 17 said they completed the transaction, first announced in mid-October. About 234 employees will transfer from Weyerhaeuser to RedBuilt – which will continue to operate commercial manufacturing plants in Chino, Calif.; Hillsboro and Stayton, Ore.; and Delaware, Ohio as well as 13 design and sales offices.
RedBuilt now employs about 32 in Boise, Sales and Marketing Manager Randy Ruim said.
“As the economy recovers and as this business recovers, we expect we would hire engineering and design associates here in Boise,” said RedBuilt President and CEO Kurt Liebich. The transaction also means that many corporate functions will move from the Seattle area back to Boise, he said.
Leaders of the new company include Board Chairman Tom Denig, former Trust Joist Corp. CEO; Vice Chairman Bill Walters, former Trus Joist general manager and operations vice president; and RedBuilt President and CEO Liebich, who oversaw commercial and industrial operations at Trus Joist for Weyerhaeuser before succeeding Denig as the division’s chief executive. Liebich also serves on the board.
RedBuilt leaders, Idaho Gov. C.L. “Butch” Otter and other dignitaries plan a ceremony at 8:30 a.m. Aug. 19 at the RedBuilt office on Mallard Street.
Federal Way, Wash.-based Weyerhaeuser acquired Trus Joist in 2000 and still owns the Trus Joist brand and the residential side of that business.
Weyerhaeuser spokeswoman Shannon Hughes said selling the commercial assets allows the company to focus on its core business of residential structural frame construction, and multi-family, hotel-motel and light commercial segments with its iLevel Trus Joist family of engineered lumber products and iLevel services and software. The company operates an iLevel service center in Boise.
Weyerhaeuser continues to employ 125 at its Boise technology center, she said.
“The unprecedented downturn we have experienced in the housing market necessitates we continue to evaluate our manufacturing operations and our overall office locations,” Hughes said. “In the case of Boise, this has led to the reduction of 55 jobs since early 2009.”
Employees at the Boise technology center focus on process engineering and manufacturing support; codes, standards and product engineering; new product pilot operations; product evaluation; wood sciences and testing; and customer service, marketing, and supply replenishment.