LONDON — Fastmarkets, a price reporting agency for global commodities, announced the acquisition of Hardwood Market Report, a price reporting agency for hardwood lumber. 

Hardwood Market Report provides price assessments and market data to customers including sawmills, wholesalers and manufacturers of furniture, flooring, panels and pallets. The sale was announced July 28. 

Fastmarkets announced that the acquisition will allow it to support trade and investment decisions across forest products, including softwood, hardwood, wood products and biomass. 

"I am excited to welcome the customers and team from Hardwood Market Report to Fastmarkets," Raju Daswani, CEO of Fastmarkets 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."

"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,” Judd Johnson, the managing director of Hardwood Market Report said. “The possibilities from this union are exciting for both new and existing Fastmarkets customers and will be transformative."

For more information on Fastmarkets, visit https://www.fastmarkets.com/