Weyerhaeuser Buying Out TJ lnternational

Within weeks of completing its acquisition of MacMillan Bloedel, including a 49Vo share in TrusJoist MacMillan, Weyerhaeuser Co. agreed to buy the remaining Sl%o of the engineered wood products giant.

Under the agreement, Weyerhaeuser will pay $720 million in cash, or $42 per share, to acquire all outstanding shares of TJ International, Boise, Id., owner and managing partner of TJM.

Weyerhaeuser already is TJM's largest distributor and one of its largest suppliers of raw material.

Big W expects the acquisition to generate approximately $50 million in annual savings, primarily through improving purchasing practices, distribution and streamlining operations.

The deal is anticipated to close early next year. TJM operates 16 manufacturing facilities across North America and employs nearly 4,000 people around the world.

One-Stop Home-Help Shop

A pair of Roseville, Ca., businessmcn are interviewing area subcontractors to help launch a one-stop shop fbr home-improvement servrces.

According to Joe Mendoza and Gregg Nielsen, Home Improvement Connection tenants will offer services such as concrete work, plumbing and flooring, among others. The duo envision their mall providing opportunities tbr small companies competing against big boxes.

"I don't know of any kind of operation where the subcontractors are onsite with their own space," said Chauncy Roberts, a Chicago-based retail analyst. "This sounds like a shopping mall full of home-improvement companies."

Srnall business owners themselves, Mendoza, owner ofa floorcovering cornpany, and Nielsen, operator 01 a designer blinds firm, have established several requirements fbr their prospec- tive tenants. For instance, all companies must have been in business for at least three years, employ no f'ewer than fbur workers, have current workers' compensation policies and trade licenses and possess well-maintained vehicles. Lastly, all must supply a list of l0 ref'erences.

"We're looking for companies that have the capacity to expand," notes Mendoza. "We want companies that will grow as we grow." He said the firm will shortly open in a 30,000 to 37,000-sq. ft. site that is capable of expanding to 50,000 sq. ft.

Nielsen said HIC will be promoted as a single entity, with hired subcontractors contributing about l%o of their revenue for advertising and marketing.

While Home Depot and other retailers sometimes refer customers to local area subcontractors, none house prot'essionals on-site, nor do they provide advertisine and marketins fbr them.

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