Wood industry stores about IKEA's pique over fake-IKEA copycat stories in China, and Fortune's poison pill for MasterBrand Cabinets et.al, were among the most viewed. Wood also showed its ability to heal, as over 400 swamp white oaks gathered from a 500 mile radius of New York City were planted to form a centerpiece of the new 911 Memorial.
In a poignant touch, the oaks surround a solitary pear tree, nursed back into a healthy tree from a smoking stump found amid the rubble of the collapsed Twin Towers.
Here are most viewed stories wood industry stories this week:
Fortune Brands adopts poison pill
DEERFIELD, IL — Fortune Brands Inc.'s Home & Security unit adopted a poison pill Tuesday to avoid a hostile takeover in anticipation of its spinoff Oct. 3. The brands in this unit include: the MasterBrand Cabinets lines of Aristokraft, Omega, Diamond and Kitchen Craft; Moen faucets; Therma-Tru door systems; Simonton windows; Master Lock security products; and Waterloo storage and organization products.
Jeld-Wen faces financial challenges
PORTLAND, OR — Window and door manufacturer Jeld-Wen faces potential bankruptcy after failing to raise $575 million in bond sales, reports the Oregonian. Jeld-Wen funding from an investor was contingent on the bond sales, reports claim. Jeld-Wen denies this is the case and says its funding is on track. Last month Jeld-Wen named Philip Orsino, former Masonite CEO, as president. Rod Wendt, JELD-WEN’s CEO and President since 1992, will remain as CEO.
China hardwood demand falls, Mexico rises
U.S. hardwood lumber exports fell to a 4-month low of 99 million board feet (MMBF) in June. Shipments were 15 MMBF below May, with China accounting for almost two-thirds of the one-month decline. Despite the June slowdown, exports of hardwood are still on pace to reach 1.21 billion board feet in 2011, which would be a 5-year high and the 6th best total on record.
DELFT, NETHERLANDS -- IKEA, the world's largest wood furniture retailer, is mulling its legal options concerning a Chinese company that has launched a near mint rreplica of one of its stores."11 Furniture" is the name of the 1,000 square meter, four-story store in southwest China, but its bright blue and yellow motif smacks of IKEA's iconic brand colors.
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RPM Wood Finishes acquires Fuhr Industrial
Wood in Gibson Guitar raid wasn't certified, says FSC.
German power shifts to biomass, much of it from U.S. wood pellets.
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