profile
Simon Woods
Simon joins the BMBI Expert panel with almost 24 years’ experience of working in the construction products sector and with builders’ merchants. His previous roles include 10 years with the leading adhesives brand Bostik, five years in the bathroom sector working with Twyford & Methan, and five years with roofing manufacturer Icopal.
West Fraser Europe Limited
West Fraser the UK’s number one engineered wood panel manufacturer serving DIY, housebuilding and construction markets. Its extensive panel range, which has now been certified as net carbon negative, includes FSC certified flooring, panelling and roofing products, with well known brands such as SterlingOSB Zero, CaberFloor and CaberWood MDF commonly specified by architects, national housebuilders and specifiers. West Fraser’s European manufacturing operations span three UK plants: Cowie and Inverness in Scotland; and South Molton in Devon as well as Genk, in Belgium
In February 2021 Norbord joined the West Fraser organisation – an international organisation specialising in diversified wood products with more than 60 facilities in Canada, the United States and Europe. From responsibly-sourced and sustainably-managed forest resources, West Fraser produces lumber, engineered wood (OSB, LVL, MDF, plywood, particleboard), and other products including pulp, newsprint, wood chips and renewable energy. Its products are used in construction, repair and remodelling, industrial applications, papers, tissue and box materials.
Visit: www.uk.westfraser.com
LinkedIn: https://www.linkedin.com/company/norbord-europe-ltd/
Twitter: @WestFraserUK
Launched in 2015, the award winning monthly Builders Merchant Building Index (BMBI) report is the only reliable measure of repair, maintenance & improvement (RMI) activity in the UK. Filling an important gap, it can be widely used in construction, and by economists, Government, national media, commentators and influencers outside the industry.
West Fraser Comment: Q4 2023
As we look into the macroeconomic landscape, there’s a palpable sense of optimism brewing as the trajectory appears to be one of improvement for the future. We witness lower inflation rates (from an uncomfortable high), a halting in the upward march of interest rates (again at a medium term high), and a stable unemployment environment. These developments paint an improving picture, hinting at a strengthening economic foundation in the medium term future.
However, amidst these broader positive trends, the construction industry emerges as a curious anomaly, presenting a challenging market landscape. Despite the overarching macroeconomic improvements, the construction sector continues to grapple with its own set of complexities and hurdles.
One notable aspect of the construction industry’s current predicament lies in the dynamics surrounding timber-related products. Importers face increasing costs, at least in the near term, as freight rates impact overall landed prices from a number of exporting regions.
The crux of the issue lies in the soft demand prevalent within the construction market. Despite the broader economic landscape exhibiting future signs of recovery and stability, the construction industry contends with subdued levels of demand, casting a challenge over the prospects of timber-related products. This confluence of factors poses a formidable challenge for manufacturers, compelling them to navigate a delicate balance between cost pressures and market realities…. while attempting to bring the figures from red to black.
In essence, while macroeconomic indicators hint at an overall improving picture, the construction industry serves as a stark reminder of the realities and challenges that persist in specific sectors of the economy. The juxtaposition of lower inflation, stable unemployment, and the struggle within the construction market underscores the many sided nature of economic dynamics, urging stakeholders to adopt a nuanced and adaptable approach in navigating the ever-evolving economic landscape.