Wolseley, Reading, UK, parent of Newport News, VA-based Ferguson, announced it is in the process of disposing of or exiting its U.S. Materials Building business, Stock Building Supply, by August 1, 2009.

The board’s preference is to identify a joint venture partner for the business. This was announced as part of a comprehensive package of measures to strengthen the company’s balance sheet and was released simultaneously with its unaudited half-year financial results.

Source: Home Channel News


Read here for the full press release from Wolseley.