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Show " - w m j w 9 w W Colonial builds fhrivinq lumber business -. t f ? j M i ! , ! - , , p i A - M-U ! BOUNTIFUL - When Colonial Building Supply Inc. took over a faltering lumber business in June 1983, the new owners were taking on a risky enterprise. South Davis County, as well as the entire state, had just struggled through a building depression of the early 1980s. Would the building slump continue, or would it improve im-prove and building supply companies com-panies see a turnaround in the building industry? Fred Hale, president of Colonial Building Supply, took a chance and Hale Investment, Inc. bought out the original Colonial Lumber Company, Com-pany, which had been located at the same location at 200 S. 200 W., Bountiful, for the previous 24 years. "Utah and the local area had just been through a home building slump, and there was no way to know if the slump would continue, and we would go under, or if the (building) industry would make a turnaround and things would get I better. Fortunately, Fortunate-ly, the latter happened, and we are on the road to recovery with a bright future ahead," said Hale. He emphasized that the store opened under new management with only five full-time employees, and a lumber supply that needed improvement But now there are 20 full-time employees, 15 at the 200 South location and five at the new door shop, a specialty facility at 730 W. 500 S., Woods Cross, across the street from the Woods Cross Post Office. "When we opened our doors on June 1, 1983, we had first-month revenues of about $46,000 said Hales. 'June the following year the income of the two stores was up to an astronomical figure, and we have been improving in revenues each year." He said this year's sales should be up about 20 percent over 1989, and the prospect for the 1990s is "very bright here and throughout the state. ' "I have faith in Utah and our future," he said, pointing to a sign depicting Utah as a great state. "I also believe in one prominent economist who says that Utah will never boom, but it will never bust ' Hale said he looks to a bright future in the local building industry, but it will take a lot of dedication and hard work for those who are to succeed. "The Olympics, if held in Utah, would be a boom to this state, but regardless of what happens, people need to have a pro-Utah attitude," at-titude," he said. ( "Too many home builders have j left Utah for greener pastures, but they are beginning to come back," said Hale. "There is a good business busi-ness with money to be made for those who will stick it out" He said he has more opportunity to bid on home building projects now than at any other time. ' 'There are jobs to be had out there. It's just a matter of going after them," he said. Hale noted that his business has tried to be a part of, and contribute to, the community since he has been a partner in the firm. Other corporation corpora-tion officers are Rod Gibson, vice president; and J.R. Bangerter, secretary-treasurer. Colonial Building President Fred Hale is ready to assist customers. i . . , . , ' " ' -r-. " I . i ' it - ; , , I j ; - ' I ' i ' ' ! I I 1 J - - J j j Colonial Building Supply has withstood the test of time and economic hardships. 4 L r !ia i y y l .rrv r t 1 |