Doman Building Materials Expands Credit Facility to Fuel Growth
Doman Building Materials Increases Senior Revolving Credit Facility
Doman Building Materials Group Ltd. is excited to share significant updates regarding its financial capabilities. Recently, the Company completed an amendment to enhance its revolving credit facility, raising it from $500 million to $580 million. This strategic move is set to bolster Doman's capacity for growth and development.
The increase in credit underlines the unwavering support from Wells Fargo Capital Finance Corporation (Canada) and a strong syndicate of lenders. Amar Doman, the Chairman and CEO, expressed his gratitude for this continued partnership, which has been a cornerstone of Doman's financial structure for over 25 years. The recent expansion illustrates the confidence of Doman's banking partners and opens new avenues for future growth initiatives.
About Doman Building Materials Group Ltd.
Doman Building Materials Group Ltd., founded in 1989, is a leader in the building materials industry throughout Canada and the United States. With its headquarters in Vancouver, British Columbia, the Company operates under the stock symbol TSX:DBM on the Toronto Stock Exchange.
Doman prides itself on being Canada’s sole fully integrated national distributor in the building materials sector. The Company comprises several distinct divisions, each with its own specialized facilities for treating, planing, and distribution. These operations are strategically distributed across major Canadian cities and numerous locations throughout the U.S.
Operational Excellence Across North America
Doman operates multiple distribution centres across Canada, ensuring that construction projects have timely access to essential building materials. With Doman Treated Wood Canada integrated into its operations, the Company boasts several treating plants conveniently located near metropolitan areas, further enhancing delivery capabilities.
In the U.S., Doman Lumber plays a crucial role in the Company's expansion, with its headquarters in Dallas, Texas. This division manages 21 treating plants and several specialty mills across nine states, focusing on the distribution and treatment of lumber and fencing materials.
Commitment to Quality and Service
Doman is dedicated to delivering high-quality products and exceptional service across North America. This commitment extends to its U.S. operations, where various brands, such as Doman Tucker Lumber, provide specialized services including treating plants and specialty sawmilling operations with their own trucking fleet to guarantee efficiency along the U.S. east coast.
Sustainability and Environmental Responsibility
In addition to high operational standards, Doman actively engages in sustainable practices. The Company manages private timberlands as part of its commitment to responsible resource management. Through Doman Timber operations, it implements agricultural post-peeling and pressure treating methods that align with the highest environmental standards.
Family of Brands and Strategic Locations
Doman's comprehensive network ensures that products are accessible nationwide. The brands serve distinct markets, including Doman Building Materials USA and Doman Treated Wood USA, which effectively cater to clients on the U.S. West Coast, with multiple distribution points in California and Oregon.
Moreover, the Honsador Building Products Group further extends Doman's reach, servicing 15 locations across Hawaii, providing essential materials for construction and renovation projects.
Future Growth Plans
The recent increase in the credit facility positions Doman optimally for continued expansion. The Company is not only focused on enhancing its existing operations but is also preparing to explore strategic opportunities. With a solid financial foundation, Doman aims to penetrate new markets while consolidating its presence in existing territories.
As a leading distributor, Doman Building Materials Group Ltd. is committed to meeting the evolving needs of the construction industry by providing an extensive range of products and services.
Frequently Asked Questions
What is Doman Building Materials Group Ltd. known for?
Doman is recognized as Canada’s only fully integrated national distributor in the building materials sector, providing a range of related products.
How has Doman's revolving credit facility changed recently?
The Company recently increased its senior revolving credit facility from $500 million to $580 million to facilitate growth and expansion plans.
Who are Doman's primary banking partners?
Doman's main banking partner is Wells Fargo Capital Finance Corporation (Canada), alongside syndicate members like CIBC and TD Bank.
Where does Doman operate in the United States?
Doman operates several branches across nine states, including major facilities in Dallas, Texas, and others focusing on the east and west coasts.
What sustainability efforts does Doman pursue?
Doman engages in responsible resource management through its private timberlands and adopts sustainable methods in its production processes.
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