May 2010: Downeast Energy Sells Building Supply Division to Hammond Lumber Company


May 4, 2010-Brunswick, Maine – Downeast Energy has announced the sale of its building supply business located at 20 Spring Street in Brunswick, to Hammond Lumber Company, based in Belgrade. Known as Downeast Building Supply the sale includes the store which serves contractors and retail customers, the Downeast Kitchens showroom and the lumberyard. The energy division will continue to be headquartered in its adjacent building at 18 Spring Street.

“Three generations of my family, along with our wonderful employees, have had the privilege of serving this community. This was an extremely difficult decision but we realize it makes good business sense at this time. This will give us additional resources to expand our energy business in Maine and New Hampshire.” said Bill Morrell, vice president. “We are pleased that our 102-year-old business is being passed on to a company like Hammond Lumber that shares our family business values.”

John Peters, president of Downeast Energy added, “This was a tough decision given the family history of our company but a necessary one. We have a strong and growing energy company with nearly 400 employees and 13 locations throughout Maine and New Hampshire. We felt the need to focus our resources on the energy side of the business because it is such an important time in our industry and we need to be able to adapt to market changes. It makes us very comfortable to know that our building supply customers will continue to be well served by another long time Maine family business.”

The building materials operation and kitchen center will remain at the same location and will become Hammond’s 9th location. Peter Bernier, currently vice president and general manager of Downeast Building Supply, will remain at the Brunswick helm for Hammond and will continue to lead the same employees while he was employed by Downeast Building Supply. "Downeast Building Supply has more than 30 long-tenured employees, many of them with 25 years or more at Downeast. We will take good care of their employees, the same way the Morrell family did for many years," said Mike Hammond, vice president and third generation member of Hammond Lumber Company family. "The well being of their employees was of utmost importance to the Morrells."

The store will be closed on Saturday, May 8 and will reopen Monday, May 10 under the new Hammond Lumber Company name.

For Downeast Energy, contact: Angie Helton, Northeast Media Associates (207) 653-0365 nema@maine.rr.com

About Downeast Energy Downeast Energy has 13 offices in southern and central Maine and Dover, NH.)