Fastmarkets expands by acquiring Hardwood Market Report

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Jul 28, 2023, 03:00 ET

LONDON, July 28, 2023 /PRNewswire/ -- Fastmarkets announces the acquisition of Hardwood Market Report, a 101-year-old price reporting agency offering prices and news on sawn North American and tropical hardwoods. Hardwood Market Report serves customers including sawmills, wholesalers and manufacturers of furniture, flooring, panels and pallets.

The acquisition of Hardwood Market Report allows Fastmarkets to accelerate plans to support trade and investment decisions across forest products, including softwood, hardwood, wood products and biomass.

Fastmarkets is an industry-leading price reporting agency (PRA) serving the forest products, agriculture, and metals, mining and minerals industries. Fastmarkets is a trusted source for pricing, news, analytics and events. It also aims to continuously enhance the value delivered to customers by advancements in its content, products and global operations. As a part of Fastmarkets, Hardwood Market Report will have access to world-class price reporting infrastructure that will strengthen its position in its markets.

"I am excited to welcome the customers and team from Hardwood Market Report to Fastmarkets," Fastmarkets CEO Raju Daswani said. "Hardwood Market Report is a business built on trust and credibility in providing transparency for the markets it serves. At Fastmarkets, we have built our business on these pillars, and we believe this will be an exciting opportunity to provide the hardwood industry with new products and services."

"This acquisition builds on the successful integration of leading providers of forest products intelligence such as RISI and Random Lengths. By uniting the expertise, networks and resources of renowned brands under Fastmarkets, we empower all our forest products customers with unparalleled advantages," Fastmarkets Chief Strategy and Product Officer Steve D'Souza said.

Hardwood Market Report managing director Judd Johnson said: "Fastmarkets' expansive human and data-collection resources in global forest products markets instantly add deeper and richer information than Hardwood Market Report could have gained on its own. The possibilities from this union are exciting for both new and existing Fastmarkets customers and will be transformative."

ABOUT FASTMARKETS

Fastmarkets is an industry-leading price reporting agency (PRA) and information provider for global commodities, providing price data, news, analytics and events for the agriculture, forest products, metals and mining, and new generation energy markets. Fastmarkets' data is critical for customers seeking to understand and predict dynamic, sometimes opaque markets, enabling trading and risk management. Fastmarkets is a global business with a history dating back to 1865 and is built on trust and deep market knowledge. It has more than 500 employees spread across global locations in the UK, US, China, Singapore, Brazil, Belgium and Finland. Fastmarkets is an Astorg portfolio company.

ABOUT HARDWOOD MARKET REPORT

Hardwood Market Report, a 101-year-old Tennessee based PRA, provides hardwood lumber price assessments and market data, including coverage of more than 400 prices for North American hardwood lumber, oak strip flooring, industrial timbers (pallets, rail ties) and selective tropical hardwoods.

SOURCE Fastmarkets