UFP Industries Celebrates 70 Profitable Years, CEO Says Employees, Culture Keys to Success
UFP Industries (NASDAQ:UFPI) marks 70 years in business on February 9, never failing to turn a profit in each of them. Founded in 1955, its leaders say the keys to success in all these years are its ability to recruit and retain high-achieving employees, its down-to-earth company culture and its unique incentive system that aligns employee interests with shareholders.
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Nasdaq celebrated UFP Industries' 70th anniversary at its headquarters in New York City on February 7, 2025. (Photo: Business Wire)
"Our company's motto is, ‘No mission statement; just people on a mission.'™ Every day, our people show up and get to work, demonstrating the determination and grit that drives our company forward. And we want to take this special year to honor their outstanding leadership," said CEO Will Schwartz, who took the helm at UFP in late December. "I'm honored to join five other CEOs who worked their way from the ground up—I'm living proof that UFP is the place for self-made men and women. We measure our people by their hard work and the fire in their belly. The only person who holds you back is yourself."
UFP Industries, founded in 1955 by William "Bill" Grant as Universal Forest Products, started as a small wood-products manufacturer. Over the decades, it expanded its portfolio to include a wide variety of materials and products, focusing on innovative solutions for the construction, retail, and industrial markets. In 2019, the company rebranded as UFP Industries to better reflect its diversified global business operations.
The retail segment houses UFP's flagship treated lumber brand, ProWood—the largest supplier of treated lumber in North America— as well as its luxury composite decking line, Deckorators. The packaging segment powers the modern economy by providing crating and custom packaging solutions for a wide variety of specialty products from food and agriculture to technology, batteries and solar panels. The construction segment, with its concrete forming, site built and factory built business units, has helped build countless homes and neighborhoods and contributed to some of the world's most recognizable skylines and institutions.
"Our 70-year history is a testament to our stability and ability to generate consistent returns. We've consistently pursued excellence and achieved above-market results through economic cycles," said executive chairman and former CEO Matt Missad. "Our proven track record, coupled with our innovative spirit, strategic vision, and willingness to outwork our competition, positions us to realize stronger-than-ever success in the future. Our commitment to employee ownership has been a fundamental driver of our success, fostering a deep sense of personal responsibility and personal reward for the company's performance."
"As UFP Industries celebrates its 70th anniversary, we stand as a testament to American manufacturing ingenuity, transforming from a humble lumber company into a global manufacturing powerhouse. For seven decades, UFP has been at the forefront of innovation, consistently delivering products that support the world's physical infrastructure, keep markets moving, and improve people's lives," said Schwartz.
UFP Industries is a leading global manufacturer of wood and wood-alternative products, with operations in North America, Europe, Asia and Australia. The company provides innovative solutions for the construction, retail, and industrial markets. UFP Industries is committed to providing customers with high-quality, sustainable products while maintaining a strong focus on growth, profitability, and long-term value creation.
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