Newberry Yard Reopens

We’re almost at the end of the first Quarter in 2010, and we seem to have come a long way from where our industry was positioned one year ago. The hardwood market has seen the beginning signs of improvement and there appears to be a more positive outlook for the economy. With these factors in mind we have two important announcements that we’d like to share with you.

It is with great pleasure that we wish to announce the reopening of our dry kiln concentration yard in Newberry, Michigan. We are going to progressively ramp up production at that facility, and are excited about the opportunities that the additional production will afford our vendors and customers in the coming months. We are also very pleased to bring back those valued employees at Newberry who will be instrumental in reestablishing our operations in Newberry and ensuring the level of quality and service expected by our customers.

Coinciding with our announcement of the reopening of our Newberry facility, we want to personally inform our vendors, customers and contacts that Banks Hardwoods Inc. will not be exhibiting at the International Woodworking Fair (IWF) this summer. Throughout the past decade the bi-annual IWF has played a role in developing our customer base. For this year, however, we feel that we need to focus our resources on developing our supply base to meet the expanding needs of our customers.

For our 25th anniversary year, we are optimistic about the future of our company and our industry. We hope that these new developments will enhance our ability to serve our vendors and customers this year and in the years to come.

Sincerely,

Spencer Lutz – President