Skip to main content
NewslettersWatchlist

Universal Forest Prd(UFPI-Q)
NASDAQ

Today's Change
Real-Time Last Update Last Sale Cboe BZX Real-Time

UFP Industries acquires controlling equity position in Ficus Pax, marking UFP’s first industrial presence in India

Globe Newswire - Mon Nov 22, 2021

GRAND RAPIDS, Mich., Nov. 22, 2021 (GLOBE NEWSWIRE) -- UFP Industries (Nasdaq: UFPI) today announced that its affiliate, UFP Global Holdings Ltd., has acquired 70 percent of the equity in Ficus Pax Private Limited (Ficus Pax), a leading producer of industrial packaging in India, for approximately $13.5 million USD. Headquartered in Bangalore, India, Ficus Pax manufactures mixed-material cases and crates, nail-less plywood boxes, wooden pallets and other packaging products through 10 facilities located in major industrial markets throughout southern India. Ficus Pax also owns a majority stake in Wadpack, a manufacturer of corrugated fiber board containers, corrugated pallets and display solutions. The company had trailing 12-month sales through August 2021 of approximately $39 million USD. Sandeep Wadhwa, chairman and managing director of Wadpack, will now lead Ficus Pax as managing director over the consolidated group.

Read more at globenewswire.com

Provided Content: Content provided by Globe Newswire. The Globe and Mail was not involved, and material was not reviewed prior to publication.

More from The Globe

investor newsletter
A change in market leadership may be imminent. Plus, an index-beating U.S. dividend portfolio strategy
Traders work on the floor at the New York Stock Exchange in New York, Wednesday, May 1, 2024. (AP Photo/Seth Wenig)
globe investor
Tensions rise in Silicon Valley over sales of startup stocks
SpaceX logo and Elon Musk silhouette are seen in this illustration taken, December 19, 2022.
inside the market
How pro money managers are balancing exposure to Canadian and U.S. stocks
Rob Carrick
market news
At the open: North American stock markets rise as rate-cut hopes linger
Traders work on the floor of the New York Stock Exchange (NYSE) on May 3.
market news
The close: Wall Street sharply higher as nonfarm payrolls report strengthens case for rate cuts in both the U.S. and Canada
A trader works inside a booth on the floor of the New York Stock Exchange on May 1.
market news
The close: Major North American indexes higher, led by Nasdaq, amid plethora of mixed earnings
Traders work on the floor at the New York Stock Exchange in New York, Wednesday, May 1.
international business
Trump awarded 36 million more Trump Media shares worth $1.8-billion after hitting price benchmarks
Former President Donald Trump speaks to reporters as he leaves the courtroom for the day at Manhattan criminal court, in New York, U.S., April 30, 2024. Seth Wenig/Pool via REUTERS
market news
The close: Stocks mixed as Fed leaves investors guessing as to when rate cuts will arrive
NEW YORK, NEW YORK - APRIL 29: Traders work on the floor of the New York Stock Exchange during morning trading on April 29, 2024 in New York City. Stocks opened high Monday morning amid a Federal Reserve rate decision and the monthly jobs report later this week. (Photo by Michael M. Santiago/Getty Images)

All market data (will open in new tab) is provided by Barchart Solutions. Copyright © 2024.

Information is provided 'as is' and solely for informational purposes, not for trading purposes or advice. For exchange delays and terms of use, please read disclaimer (will open in new tab).