Babb Lumber company will soon have new owners and a new name, but will continue to remain a fixture in the Vincennes Community. Members of the Vincennes Revolving Loan Fund Committee on Monday agreed to lend Roger Babb 400-thousand dollars in operating capitol as part of a deal to keep the business open. The loan will be for a period of 15-months.
Roger Babb is seeking to acquire ownership of the Vincennes lumber yard from other family members. In order to so, Babb initially sought the 400-thousand dollars from the Revolving Loan Fund to help with the purchase of the local company. Since then, Babb has acquired investors to assist with the purchase price. He says the name will change from Babb Lumber to Wabash Valley Wood Protection, Inc.
In addition to retaining the current 10 exising workers, Babb says he has his eye on future expansion including the sale of fire treated timber
