Grand Rapids, MI, Jan. 7--Universal Forest Products, Inc. announced it was again named to Forbes magazine's Platinum 400, an annual listing of the 400 best-managed U.S. companies with more than $1 billion in annual revenue.
"This award speaks to the strength of our management team, the people they've hired and trained and the systems they've implemented," said William G. Currie, Universal's vice chairman and CEO. "We're always honored to be named to the list and to be in the company of great U.S. firms."
Each year, Forbes evaluates 1,000 companies to select the best managed in 26 industries. Companies are ranked against their peers for five-year total return as well as long- and short-term sales and earnings growth, and other yardsticks such as long-term earnings forecasts from Thomson First Call. In addition, Forbes uses an independent firm to help rank the companies on accounting and governance.
Universal was included with 14 other firms (such as Alcoa, Temple Inland, and Weyerhaeuser) in the materials industry and came in fifth with a five-year annualized total return of 9.8%.
It is the fifth time in the last six years that Universal Forest Products has been named to this prestigious list.
Universal Forest Products markets, manufactures, and engineers wood and wood-alternative products for D-I-Y retail home centers, structural lumber products for the manufactured housing industry, engineered wood components for the site-built construction market and specialty wood packaging for various industries. Among the company's newest and fastest-growing ventures are framing and installation services for the site-built and retail sectors.
