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As cabinet factories hum, and furniture factories expand, Wall Street investors are revisiting the wood manufacturing industry as a place to make money.
ITW's divestment of Wilsonart and related Decorative Surfaces divisional properties is the billion dollar example. That initial report of the Wilsonart sale was reported August 20 by Woodworking Network, on the eve of the International Woodworking Fair, so people may have missed that breaking news. This week's report notes that the deal closed for $1 billion. The buyer, investment group Clayton Dubilier.
Another big deal was the sale of Armstrong Industries $135 million cabinet business. That spinoff, funded by investment group American Industrial Partners (they bought Northwest Hardwood last year) known as ACProducts, just scored its first major cabinetry sale one week after the deal closed.
Here are the wood industry's top reports from the past weeks:
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ITW Sells Wilsonart for $1 Billion to Clayton Dubilier
By Karen Koenig | Updated: 11/01/2012 3:04:00 PM
Illinois Tool Works sold control of its Decorative Surfaces segment, including Wilsonart, to Clayton, Dubilier & Rice for $1.05 billion in cash. Read more
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Pine Beetle Killed Log Installation: Sink Stink
By Bill Esler | Updated: 10/26/2012 2:09:00 PM
A wood art installation centered around logs from trees killed by pine beetles, has caused a stir at the Laramie, WY campus of the University of Wyoming. University officials plan to remove it.
Read more
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Brad Pitt, Pollaro Furniture Launch Line
Posted by Karen Koenig | Updated: 11/07/2012 12:14:00 PM
Actor Brad Pitt is collaborating with Frank Pollaro, president and CEO of Pollaro Custom Furniture, to design residential furniture.
Read more
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Armstrong Exits Cabinet Business as AIP Deal Closes
By Bill Esler | Updated: 11/02/2012 3:41:00 PM
Armstrong Cabinet Products is ACProducts as investor group American Industrial Partners, owners of Northwest Hardwoods, buys Armstrong's 750 employee operation. Read more
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Cabinetmakers, Remodelers In Demand for Massive Rebuild
By Bill Esler | Updated: 11/01/2012 11:24:00 AM
For cabinetmakers, furniture repair and home remodelers, Hurricane Sandy is the story of the week, and the year, as it drives thousands of owners to restore, remodel and rebuild homes and businesses. Read more
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Masco Cabinetry Sales Fell; Cabinet Sales Drop; Euro Woes
Updated: 10/31/2012 12:32:00 PM
Masco cabinetry sales fell 5%, hurt by Europe's woes and big box store sales. Overall Masco sales were flat at $2 billion for the third quarter. North American sales rose 4%; international sales fell 12%. Read more
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Airplane Cabinetry Maker King Aerospace Expands
By Karen Koenig | Updated: 11/01/2012 10:27:00 AM
King Aerospace Commercial Corp. will expand its Ardmore, OK, facility to make room for additional cabinetry, upholstery and panel covering capabilities. Read more
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Countertop Maker Pro-Lam, Inc. Expands in Lowe's Deal
By Bill Esler | Updated: 11/03/2012 3:47:00 PM
Countertop fabricator Pro-Lam, Inc. (PLI) has acquired a 40,000-square-foot headquarters and production facility outside Milford, and plans to expand under a new contract with Lowe's. Read more
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Columbia Forest Products Publishes Hardwood Plywood Guide Posted by Bill Esler | Updated: 10/30/2012 1:58:00 PM
New desk reference guide published by Columbia Forest Products provides detailed, practical information and guidance on wood veneer characteristics plus industry-standard grading tables for woodworkers and specifiers. Read more
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Used Belt Sander Has Big Power Needs
By Jared Patchin | Updated: 11/06/2012 1:04:00 PM
A wide belt sander had long been on my wish list. I bought one used, but had to invest heavily in a phase converter to power it. Read more
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