A Strong

Thuntr to our loyal customers and a strong tradition of service, Bean Lumber has grown into one of the largest independent manufacturers of southern pine.

Since 1940, the major characteristic of Bean tradition has been solid growth in the lumber industry. Hard work, old style integrity and dedication to quality has enabled us to develop the manufacturing muscle to make sure the southern pine you buy scores a quality knockout with your customers.

Our two sawmills, three pressure treating cylinders, a deck accessories shop and dry kilns for KDAT ensure the products you receive from Curt Bean Lumber Company are of the highest quality.

At Btitt Lumben we specialize in redwood fence posts, boards and rails - made directly from the log in our modem sawmill. We're large enough to meet your customers' needs, yet small enough to care and provide the personal seruice you need. ... foJ all your redwood fencing needs from Britt

Timb er Consentatian lhrougb Wood Presentntion

Since 1971, the goals of Western Wood Preserving Co, have always been to provide top quality products and senices at competitive prices to customers who share our appreciation for high standards. Our environmentally compliant, state-of-the-art, 0smose desigred feating plant uses the lalest in computer process control technology. In this unique industry, our word is our honor and our goal is to make dealing with Watem Wood Preserving Co. a pleasurable e4perience.

Lowe's High On Pro Market

Lowe's Cos. believes the professional contractor market will continue to expand, and that the chain is poised to capitalize on its growth, according to Larry Stone, the North Wilkesboro, N.C.-based chain's chief operating officer.

"Because of time pressures, d-i-y is clearly giving way to do-it-for-me for many of our shoppers, so we are increasing our focus on installed sales and commercial-business customers," said Stone. "We are also making more products than ever available through our special-order sales program."

Stone, who made his comments at an annual shareholders' meeting, said pro sales composed roughly 2O7o of the company's $15.9 billion in total sales in 1999 and should increase 35Vo this year.

Sales to Lowe's approved installers of flooring, cabinetry and appliances reached $330 million last year, up 80Vo from 1998. A 50% increase in sales for this segment is expected in 2000. Special orders totaled $930 million last year for the chain, tp 347o from 1998.

Chief

financial officer Tom Whiddon said the chain's dismal performing share price, an important recruiting and retention tool, does not reflect Lowe's growth prospects or its strong financial performance. "We will focus on continuing our successful expansion, driving our comparable store sales, properly managing our assets and getting improved returns on those assets, and maintaining our leading position as a low-cost provider," he said.

Currently operating 576 stores, Lowe's plans to add 95 units this year andl25 in 2001.

Celotex Sells Off lts Parts

Celotex Corp. has accepted an offer for two of its five business operations and is negotiating a definitive agreement to sell a third business.

BPB plc of the United Kingdom is acquiring the ceiling products and gypsum wallboard divisions, including 12 manufacturing facilities that account for about 507o of Celotex's overall revenue.

Celotex also signed a letter of intent to sell its roofing business to CertainTeed Corp. The asphalt shingle facilities in Los Angeles, Fremont, Ca.; Birmingham, Al., and Cincinnati, Oh., and fiberglass mat production plant in Russellville, Al., account for about25Vo of Celotex's revenue.

Still up for sale are Celotex's rigid foam-based insulation and sheathing business (five plants providing 20Vo of current revenue) and fiberboard operations (two plants, 5Vo of revenue).

The Asbestos Settlement Trust, which has owned all of Tampa, Fl.based Celotex's stock since 1997, began seeking a buyer in November after ensuring the company was free of all asbestos-related liabilities (see Dec., p.84).

"When we began the company sale process last year, our hope was that we could find a new owner interested in paying full value and acquiring the entire company," said president and ceo John P. Borreca. "As it turns out, after a very broad and public auction process, the marketplace has told us the highest value for our company is in the sum of its parts, rather than in the whole."