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Rite Corp., Stanadyne/Moen Group, Sterling Plumbing Group, and Warner Manufacturing Co.

Retail Sales To Dip In'88

Long term forecasts of retail sales see the U. S. consumer going into 1988 just about tapped out.

Hardware stores and lumber yards are among the retail businesses expected to have constant dollar sales declines, according to James Newton, president of Economic Perspectives. His forecast sees hardware stores experiencing a better than 40/o decline in sales.

Personal income growth after inflation adjustments is essentially flat; debt to income ratios have fallen only slightly from their 1986 cyclical peaks and the personal savings rate is far below historical norms. With the recent loss of their stock market savings cushion, consumers will no longer be in a position to lead the economy through another year of solid growth. As a result, inflation adjusted total retail sales are expected to fall by 0.50/o during 1988.

Hayward Buys San Luis Mill

Hayward Lumber, Salinas, Ca., has acquired San Luis Mill & Lumber, San Luis Obispo, Ca., from Roy and Gerald Parsons.

The business has been renamed Hayward's San Luis Mill & Lumber, according to Homer Hayward, president of Hayward which operates lumberyards and home supply centers in Pacific Grove. Carmel. Hollister, Raso Robles and Morro Bay from Salinas headquarters. Rudi Lokkart is branch manager in San Luis Obispo.

Big San Diego Retailer Sold

Western Lumber Co., Inc., San Diego, Ca., has been acquired for aPproximately $40 million by Georgetown Industries Inc.,a Charlotte, N.C., company controlled bY the Kuwait government.

Western, one of the largest suPpliers of building materials to building contractors in the San Diego area, includes a distribution and milling complex in nearby National City and l0 building materials centers. "Westy's Lumber and Building Materials" is the trade name for the retail outlets, The comPanY also owns Western of San Diego Fund Control division in National City and Solana Beach, a provider of financial services to home builders and lenders.

Allen Quimby, President and owner of Western with McCown De Leeuw & Co., a Private venture banking firm operating out of Menlo Park, Ca., and New York CitY, will continue as president. Established in 1904, Western has annual sales of $125 million. QuimbY and McCown De Leeuw acquired it from Boise Cascade Corp. in 1985.

Georgetown's controlling interest is held by the Ministry of Finance in Kuwait, according to Roger Regelbrugge, president. They also own Ceorgetown Steel Corp. in South Carolina and Waccamaw PotterY, a retail chain.

tndustry Pros Share Wisdom

Issues affecting home centers will be considered by executives from inside and outside the industry at the Home Center IndustrY Conference, May 10-12 at the O'Hare Marriott Hotel, Chicago, Il.

"We're confident that the conference program and format will provide a conducive environment for executives in our industry to develop a strong dialogue," said William P. Farrell, executive director of the American Hardware Manufacturers Association.

Program particiPants from within the industry will include both home center and building material manufacturer executives. Professors of business and marketing from several prestigious universities also will participate.

tlardwood Products ExPo

The International Hardwood Products Association will hold its 32nd annual convention and sixth international forest products exhibition, "World of Wood '88," March 1-5 at The Registry Resort, NaPles, Fl.

The theme for the convention is "Timber Our Renewable Resource." Highlights will include a keynote address by Dr. GarY Hartshorn, the Tropical Forest Center; the forest products exhibitionl country product seminars, and industry sector sessions and displaYs.

Supplier participation in the forest products exhibition will be the largest in recent years. IHPA has received definite commitments from:

AIMA Asociacion Industriales Madereros, of Quito, Ecuador; Industria E Comercio Irmaos Zugman S. A., Sao Paulo, Brazil; the Malaysian Timber IndustrY Board, Kuala Lumpur, Malaysia; and the Timber Export Development Board, Takoradi, Ghana. In addition to participating in the exhibition, each delegation to the exhibition will be allotted time on the convention program for a product seminar.

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WHEELER MANUEACTURING _ SPECIFIED HEAVY CUTTINGS UP TO 4O'.

TILIIIT}TOOK LUMBER _ KD HEMLOCK UP TO 26'.

WIIIIIMINA TUMBER - DOUGIA'S FIR FRAIUIING UP TO 28'.

EDWARDS INDUSTRIES - PINE, KD HEM-FIR, KD F&L, CEDAR, ST. JOHNS _ HEM.FIR, DOUGLAS FIR STUDS, VAN LOO _ GREEN DOUGLAS FIR FRAMING.

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