Wolseley (Reading, UK), plans to dispose of or exit its U.S. Materials Building business, Stock Building Supply, by Aug. 1, 2009, but would prefer to identify a joint venture partner for the business. Also, Ferguson (Newport News, VA) will close about 74 locations in the second half of its fiscal year, most in markets where the wholesaler has other locations. These were among the measures Wolseley announced upon release of its unaudited half-year financial results. Ferguson continues to outperform the market and benefit from its business diversification, Wolseley said.
April 1, 2009