KraftMaid, Merillat and Quality Cabinets Brands are Combining Under Masco Cabinetry
11 2월 2010 - 6:05AM
PR Newswire (US)
TAYLOR, Mich., Feb. 10 /PRNewswire-FirstCall/ -- Masco Corporation
(NYSE: MAS), the leader in the North American cabinet business, is
combining its two cabinet companies, Masco Retail Cabinet Group and
Masco Builder Cabinet Group, to form a new organization, Masco
Cabinetry. Masco Cabinetry will include the two strongest brand
names in the industry in KraftMaid® and Merillat®, along with
Quality Cabinets(TM) and several private label product lines. In
addition, Masco Cabinetry will further develop the DeNova(TM)
countertop brand representing a major opportunity for growth across
all channels. The new organization will be led by Karen Strauss,
president of the Masco Builder Cabinet Group, and will be staffed
with key leaders from both organizations. Masco Cabinetry will
report to Tim Yaggi, Masco Corporation group president. "Combining
the strengths and talents of the two organizations to generate
significant value for our customers is a very exciting
opportunity," said Karen Strauss, president of Masco Cabinetry. "By
inspiring and creating kitchen and bath solutions with meaningful
innovation and consumer-preferred brands, we will drive
breakthrough growth opportunities for our customers and our
company." Masco Cabinetry will focus on driving growth across all
channels through superior innovation, quality and customer service.
The new organization will have the ability to offer trade partners
and consumers a broad portfolio of cabinets and countertops
spanning a wide range of price points and styles. Over the next few
months, the leadership team will work through strategic and
tactical plans to ensure a seamless transition to the new
organization. "We are excited to bring together the best assets and
capabilities of North America's two leading cabinet companies. The
combination will enable us to invest in industry-leading innovation
and bring to market a complementary portfolio of brands to meet the
needs of our valued customers in an efficient, seamless way," said
Donny DeMarie, chief operating officer, Masco Corporation. Masco
Corporation (NYSE:MAS), is one of the world's largest manufacturers
of brand-name consumer products for the home and family, including
Behr® paint, Delta® and Hansgrohe® faucets, bath and shower
fixtures, KraftMaid, Merillat and Quality cabinets, Milgard®
windows and doors and Verve(TM) lighting systems. Masco is also a
leading provider of services that include the installation of
insulation and other building products through Masco Contractor
Services and Masco Home Services. For more information on the Masco
family of brands, visit http://www.masco.com/. About Masco Builder
Cabinet Group (MBCG). Based in Adrian, Michigan, the Masco Builder
Cabinet Group is the manufacturer of two nationally recognized
cabinetry brands: Merillat and Quality Cabinets; and the DeNova
countertop brand. The company has manufacturing plants and
branches/service center locations throughout the United States.
Offering an unmatched selection of stylish, high-quality products
at a variety of price levels, MBCG brands are favored by builders,
dealers and distributors throughout North America. A leader in
environmental stewardship, MBCG is ISO 14001 certified and has been
granted an Environmental Stewardship Program certificate by the
Kitchen Cabinet Manufacturers Association.
http://www.mascobcg.com/. About Masco Retail Cabinet Group (MRCG)
Based in Middlefield, Ohio, the Masco Retail Cabinet Group is the
manufacturer of KraftMaid brand cabinetry. For more than 40 years,
KraftMaid Cabinetry has been one of the nation's largest
manufacturers of semi-custom cabinetry. Today, KraftMaid continues
to lead the industry in innovation and design with an extensive
product selection featuring more than 100 trend-on door styles and
over 45 furniture-quality finishes. KraftMaid® is the anchor brand
of the Masco Retail Cabinet Group, a division of Masco Corporation
of Taylor, Michigan and one of the world's largest manufacturers of
brand-name consumer products for the home and family. All KraftMaid
Cabinetry is backed by a limited lifetime warranty. For more
information, visit http://www.kraftmaid.com/. Statements contained
herein that reflect the Company's views about its future
performance constitute "forward-looking statements" under the
Private Securities Litigation Reform Act of 1995. These views
involve risks and uncertainties that are difficult to predict and
the Company's results may differ materially from the results
discussed in such forward-looking statements. For further
information, refer to our Annual Report on Form 10-K (particularly
the "Risk Factors," "Management's Discussion and Analysis of
Financial Condition and Results of Operations" and "Outlook for the
Company" sections) and to our Quarterly Reports on Form 10-Q which
we file with the Securities and Exchange Commission. The forward
looking statements are based upon management's current views and
assumptions regarding future events and operating performance. The
Company undertakes no obligation to update any forward-looking
statements, whether as a result of new information, future events
or otherwise. DATASOURCE: Masco Corporation CONTACT: Investor,
Maria Duey, Vice President - Investor Relations, +1-313-792-5500,
or Media, Susan Cross, Communications Manager - Masco Builder
Cabinet Group, +1-517-266-4807, Web Site: http://www.masco.com/
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