UFP Industries (UFPI) announced that its UFP Retail Solutions business segment acquired the equity of Fire Retardant Chemical Technologies, LLC (FRCT).
Founded in 2014 and based in Matthews, North Carolina, FRCT’s business includes a research and development laboratory specializing in developing and testing a wide range of high-performance chemicals, including fire retardants and water repellants. The company had approximately $6.4 million in sales in 2019. Dr. Futong Cui, FRCT’s founder, president and chief technology officer, will continue to lead the company.
Allen Peters, president of UFP Retail Solutions, said: “These technologies will join our growing portfolio of products and reinforce our commitment to innovation. We expect FRCT’s fire-retardant products to be among the fastest growing in the wood preservation market, as they present a compelling value compared to other fire-resistant materials in the market.”
UFP Industries is a holding company whose subsidiaries supply wood, wood composite and other products to three robust markets: retail, construction and industrial.
