TimberBase launches global B2B platform for buying and selling lumber and building materials

By: UFP Industries, Inc. via Business Wire

November 14, 2023 at 16:01 PM EST

TimberBase, an affiliate of UFP Industries, Inc. (Nasdaq: UFPI), today announced the launch of TimberBase.com, a B2B digital platform for buying and selling lumber and building materials. Purchased from German tech start-up Timber Base GmbH in February 2023, the platform has been upgraded with a more intuitive interface, supported by UFP’s team of international industry experts, to simplify the buying and selling process for customers and suppliers around the world.

“TimberBase will host a broad portfolio of lumber and building material products,” said Andy Cubeta, vice president of international trading for TimberBase. “This automated, easy-to-use platform provides several modern advances, such as real-time order tracking, a live chat function for immediate assistance and expert guidance, and the ability to quickly and easily create and accept order requests. The world is rapidly changing, and our TimberBase team will be on the forefront of modernizing the trading activities of the global timber industry. Our goal is to be the leading global B2B platform for buying and selling lumber and building materials.”

“A global trading presence strengthens UFP Industries’ sourcing advantage by providing access to valuable wood baskets throughout the world,” said Dick McBride, executive vice president. “TimberBase will enhance this advantage for our manufacturing operations in North America, Europe, Asia, and Australia through new supplier relationships. It also will provide opportunities for us to export our products anywhere in the world and connect suppliers and other manufacturers with each other. Trading in this industry has primarily been via phone and email. Now it will be conducted ultra-efficiently through TimberBase.”

About TimberBase

TimberBase is the industry’s most advanced sales platform, connecting thousands of buyers and sellers worldwide. It’s an online marketplace delivering a wide array of lumber and building materials, all while simplifying transactions. The easy-to-use platform incorporates automation and creates efficiencies throughout the process, bringing the timber industry confidently into a modern platform.

UFP Industries, Inc.

The subsidiaries of UFP Industries – UFP Packaging, UFP Construction and UFP Retail Solutions – manufacture, distribute and sell a wide variety of value-added products used in residential and commercial construction, packaging and other industrial applications worldwide. Founded in 1955, the company is headquartered in Grand Rapids, Mich., with affiliates in North America, Europe, Asia and Australia. UFP Industries is ranked #403 on the Fortune 500 and #149 on Industry Week’s list of America’s Largest Manufacturers. For more about UFP Industries, go to www.ufpi.com.

This press release contains forward-looking statements within the meaning of Section 21E of the Securities Exchange Act, as amended, that are based on management’s beliefs, assumptions, current expectations, estimates and projections about the markets we serve, the economy and the Company itself. Words like “anticipates,” “believes,” “confident,” “estimates,” “expects,” “forecasts,” “likely,” “plans,” “projects,” “should,” variations of such words, and similar expressions identify such forward-looking statements. These statements do not guarantee future performance and involve certain risks, uncertainties and assumptions that are difficult to predict with regard to timing, extent, likelihood and degree of occurrence. The Company does not undertake to update forward-looking statements to reflect facts, circumstances, events, or assumptions that occur after the date the forward-looking statements are made. Actual results could differ materially from those included in such forward-looking statements. Investors are cautioned that all forward-looking statements involve risks and uncertainty. Among the factors that could cause actual results to differ materially from forward-looking statements are the following: fluctuations in the price of lumber; adverse or unusual weather conditions; adverse economic conditions in the markets we serve; government regulations, particularly involving environmental and safety regulations; and our ability to make successful business acquisitions. Certain of these risk factors as well as other risk factors and additional information are included in the Company's reports on Form 10-K and 10-Q on file with the Securities and Exchange Commission.