Eva-Last Composite Building Materials Producer Officially Enters US Market
Today, leading international composite building materials manufacturer, Eva-Last announced its acquisition of Fortress Deck Products, marking the official opening of Eva-Last Americas in Plano, Texas.
PLANO, Texas, August 22, 2023 (Newswire.com) - Today, leading international composite building materials manufacturer, Eva-Last announced its acquisition of Fortress Deck Products, marking the official opening of Eva-Last Americas in Plano, Texas.
Under the leadership of CEO and co-founder Marc Minne, together with the expertise and experience of Fortress management and staff, Eva-Last is poised to grow its market share with its range of advanced composite building materials, including decking, cladding, fencing, screening, and fasteners.
The acquisition, which benefits from seven years of focused effort by Fortress, expands the Eva-Last brand's international footprint and provides direct access to the world's largest composite decking market - the United States - estimated at $7.472,52 billion[i].
The global advanced building materials market - defined as those construction components that are more sustainable with advanced technical properties compared to conventional building materials - was valued at $56.7 billion in 2022 and is projected to top $111.7 billion by 2031 at an estimated 6.8% cumulative annual growth rate (CAGR)[ii].
"The US market represents around 20.7% of the Potential Industry Earnings (PIE)i and is a significant player in helping us achieve our vision of being a global market leader," says Marc Minne, Eva-Last CEO.
Thanks to Fortress's established distribution network and partnerships with several of the largest retailers in the United States, as well as Eva-Last's proven portfolio of sustainable bamboo composite products sold in over 30 countries worldwide, the newly formed entity is well-positioned to make significant strides in the US building materials sector.
Several strategic pricing modifications and innovative incentives will be implemented to drive sales and advance the business immediately. "We anticipate accelerated uptake of our products now that we've localized distribution and overcome some of the barriers to entry," says Minne.
Jeff Schulz, Senior Vice President of Sales & Marketing at Fortress Building Products says, "We're proud of what our team at Fortress Deck Products has built and it's encouraging to see Eva-Last taking advantage of this platform to spur growth. During this period of strategic growth, the sale of our composite decking subsidiary, benefits Fortress employees, Eva-Last employees, our mutual partners, and the industry as a whole."
"We are delighted to welcome the talented team from Fortress Deck Products into the Eva-Last family," says Marc Minne, Eva-Last CEO. "With their expertise and dedication, we are confident that this partnership will advance our organization in the US."
"We're certain that our sustainable and high-tech composite building products and customized business solutions will speak for themselves and we look forward to serving our customers with excellence," enthuses Minne.
[i] Source: Philip M. Parker, INSEAD, copyright 2019, www.icongrouponline.com