Quanex Building Products Corp. is acquiring cabinetry components maker Woodcraft Industries for $248.5 million in cash. The transaction by Quanex, a window and door components manufacturer, is expected to close in the fourth quarter.
SCHWARZACH, AUSTRIA & LUBBECKE, GERMANY - The technology leader for cut to size solutions Schelling acquires the specialist for automated edge processing technology IMA from Adcuram in Munich. Together both companies will lead the way in automation technology for the panel processing and furniture industries.
Stocks of U.S. furniture makers rebounded on Monday, Aug 31 after a dip in late August brought on by the Chinese stock crises, which has roiled global financial markets over the past month. Although continued concerns about the Chinese manufacturing sector sent the market plummeting again on Tuesday.
Closets Magazine has been relaunched, by popular demand. Following a two-year hiatus, the home storage solutions publication has been completely remodeled and re-organized, to better serve the home organization professional.
Ethan Allen Chairman and CEO Farooq Kathwari has responded to a shareholder letter sent August 26 questioning the management of the company. Thomas Sandell, whose group owns 5.5% of Ethan Allen, said "sub-optimal fiscal policies and inefficient allocation of shareholder capital has resulted in the company`s stock trading at a significant discount to its intrinsic value."