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New chief executive Paul Hylbert at lumberyard giant Lanoga Corp. is looking to realize efficiencies across his company's four divisions. just half a year after his arrival, Hylbert is finding ways to transfer expertise among divisions to generate new revenues.
Redmond-based Lanoga-which locally operates the Lumbermen's Building Centers chain-had a solid but unexceptional year in 2000. It was the last year under the helm of longtime CEO Daryl Nagel, who retired at the end of the year but remains on the company's board.
Sales were $1.29 billion, up slightly from $1.25 billion the year before, but short of the company's projection for 2000 of $1.4 billion.
The slower sales growth may have been due in part to record low prices for lumber and other wood products, Hylbert says, which cuts into sales dollar volumes and profits. Another factor may have been the slower pace of acquisitions.
In 1999, 17 new locations joined Lanoga, including massive Home Lumber, in Denver. With $100 million in sales, Home became Lanoga's fourth division.
In 2000, acquisitions were more mod-' est. For instance, the company entered Utah with the acquisition of Butterfield Lumber, in Salt Lake City, an operation with perhaps...