Gibson Guitar settled a long-running battle over LACEY-contested wood imports; MasterBrand Cabinet's 335-employee plant closure; and Home Depot's buyout of cabinet refacer U.S. Home Systems - topped wood industry news.
Stories this week included a number of buyouts and mergers, including Glenn Rieder's buy of Quality Cabinets, Tenex acquisition of NAP Gladu, and 20-20 Technologies sale to an investment group, as well as a rejection of Lowe's overture to Canada lumber and hardware retailer RONA.
A recovering wood manufacturing and housing industry is seen in expansion of American Woodmark's West Virginia plant, where $15.2 million will be invested, and an eight-fold increase in earnings at Weyerhaeuser, a result of the residential construction rebound.
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Gibson Guitar Cops Plea on Lacey Violation Charges
By Karen Koenig | Updated: 08/06/2012 11:46:00 AM
Gibson Guitar Corp. will not face prosecution for violating the Lacey Act and has instead entered into a criminal enforcement agreement with the United States. Read more
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MasterBrand Cabinets Closes Martinsville: 335 Jobs Lost
By Karen Koenig | Updated: 08/06/2012 7:41:00 AM
MasterBrand Cabinets told its 335 employees in Martinsville, VA, their plant would close Aug. 10. Supplier LamTech Is 'Shocked'
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Home Depot to Acquire U.S. Home Systems
By Bill Esler | Updated: 08/08/2012 1:23:00 PM
The Home Depot will acquire its cabinetry refacing services supplier U.S. Home Systems, Inc., Irving, TX. Read more
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Masco $75 Million Contractor Settlement Impacts Earnings
By Bill Esler | Updated: 08/04/2012 9:41:00 PM
Cabinetry giant Masco Corp. (NYSE: MAS) lost $75 million on second quarter sales of $2 billion. North American sales rose 3 percent, international fell 9 percent; a $75 million class action court settlement. Read more
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Quality Cabinet and Fixture Acquired by Glenn Rieder Inc.
By Bill Esler | Updated: 08/02/2012 10:57:00 PM
Architectural millwork firm Glenn Rieder, Inc. has acquired Quality Cabinet and Fixture Co. of San Diego, California and its majority owned subsidiary, Quality Cabinets de Mexico S. de R.L. de C.V. Read more
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Airline Interiors Cabinetmaker Wins $1.1M Verdict
By Michaelle Bradford | Updated: 08/03/2012 1:42:00 PM
Cabinetmaker Precision Pattern Interiors, a subsidiary of Goodrich Corp., won a $1.1M breach-of-contract suit against BaySys Technologies, a private jet mannufacturer. Read more
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20-20 Technologies to Be Acquired by Vector Capital
By Rich Christianson | Updated: 08/05/2012 6:38:00 PM
20-20 Technologies Inc., a supplier of CAD/CAM software, including for the wood products and closets industries, is on the verge of being acquired by an affiliate controlled by Vector Capital Corporation. Read more
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Ashley Furniture Completes $10.4M Factory Complex Buy
By Rich Christianson | Updated: 08/06/2012 10:21:00 AM
Ashley Furniture Industries Inc. has completed its $10.4 million acquisition of a 1.4-million-square-foot industrial facility in Advance, NC. Read more
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A Titanic Woodworking Mystery Surfaces at WWN
By Rich Christianson | Updated: 08/03/2012 2:05:00 PM
Last week a most intriguing comment was posted on Woodworking Network by the great grandson of a Wadkin woodworking machinery representative who perished on the Titanic's ill-fated maiden voyage. Read more
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