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Woodworking Industry News

SCM Honors Top Dealers

DULUTH, GA – SCM Group USA honored its top dealers at its annual dealer meeting held on Mach 28. Southeastern Machinery Group of Duluth, GA, was recognized as Partner of the Year for outstanding sales performance.

Woodworking Industry News

KI Promotes Ganiard to President

GREEN BAY, WI – Rod Ganiard has been named president of KI. In his new role, Ganiard assumes leadership and management of KI’s United States and Canada Operations. Dick Resch will continue as chairman of the board and CEO, while continuing to oversee the company’s international business, Spacesaver Corp. and global sourcing.

Woodworking Industry News

Haverty Furniture to Hold 1Q Earnings Conference Call May 3

ATLANTA – Haverty Furniture Companies Inc. will release first quarter 2007 earnings results on Wednesday evening, May 2. In conjunction with the release, the company will conduct a conference call with analysts and institutional investors on Thursday, May 3, at 10:00 a.m. EDT. Interested persons can listen to the call at www.streetevents.com or the company’s Web site, www.havertys.com.

Woodworking Industry News

Furniture Brands to Close Plants, Cut 330 Jobs

ST. LOUIS – Furniture Brands Int’l. Inc. said it is eliminating 330 jobs, including 80 executive and administrative positions. According to Earthtimes.org the company plans to cut down on costs in the wake of declining sales. Furniture Brands, which operates such brands as Broyhill, Drexel Heritage, Henredon, Lane, Maitland-Smith and Thomasville, said the plan will create an annual savings of approximately $13 million.

Woodworking Industry News

Premier Machinery Moves Corporate HQ

ROME, OH -- Premier Machinery Inc., an importer of woodworking machinery, as well as a provider of parts, service and tooling, is moving their corporate headquarters to South Carolina, effective May 1. The move will consolidate the parts and service department and sales department.

Woodworking Industry News

Irwin Seeks the 'Ultimate Tradesman'

HUNTERSVILLE, NC – NASCAR Nextel Cup driver Jamie McMurray is joining forces with Irwin Industrial Tools to conduct a nationwide search for America’s top tradesman. The Irwin Ultimate Tradesman Challenge was launched April 11 in Texas and will follow the NASCAR Nextel Cup Series schedule into 14 U.S. racing markets, plus several non-racing markets around the country.

Woodworking Industry News

Temple-Inland 1Q Net Income Cut in Half

AUSTIN, TX – Temple-Inland Inc. reported first quarter 2007 net income of $38 million, a 52.6% decline from the $79 million in net income it posted for the same period in 2006. the company said lower lumber prices and lower prices and shipments of gypsum significantly impacted its first-quarter profits. Read more.

Woodworking Industry News

Housing Slump Leads to Norbord Q1 Loss

TORONTO – Norbord Inc. said the U.S. housing slump is responsible for a first-quarter loss of $16 million, a reversal from the $58 million profit it posted in the same period a year ago. Sales for the first three months fell from $368 million to $261 million. COO Barry Shineton said, ‘Our company is well-positioned to weather what is going to be a difficult time. He said Norbord plans to cut costs by $45 million this year.

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