Woodworking Industry News

Housing Starts Edge Up, While Permits Drop

WASHINGTON, DC — Housing starts bumped up slightly in April, while new building permits dropped to the slowest pace since June 1997, according to figures released by the U.S. Commerce Department. Starts of new single-family homes were up 1.6% in April, but the pace was 18.9% below April 2006. Multi-family housing construction increased 6.3%, a 2.6% decrease from a year ago.

Woodworking Industry News

Acimall Reports Positive Outlook for 2007

MILANO, ITALY – Acimall, the Italian woodworking machinery and tools manufacturers’ association, said orders of Italian woodworking machinery and tools grew 5.9% in the first quarter of 2007 as compared to the first quarter of 2006. A quarterly survey conducted by the Studies Office of Acimall was based on the figures collected from a sample that represented the entire industry in terms of dimensions and production categories.

Woodworking Industry News

Fletcher Building Ltd. Buys Formica Corp.

CINCINNATI – Formica Corp. announced that it is being purchased by Auckland, New Zealand-based Fletcher Building Ltd., a publicly traded material and construction company with annual revenues of $4 billion. Formica was purchased for $700 million, with additional deferred payments of up to $50 million from private equity investors Cerberus Capital Management LP and Oaktree Capital Management LLC.

Woodworking Industry News

Interzum Rebounds

COLOGNE, GERMANY – Interzum, the international furniture supply show held May 9-12, experienced rises in exhibitors and attendees, reversing downward trends that have prevailed in recent years. Utilizing the Cologne Fairground’s northern halls for the first time, exhibit space increased by 10%; 1,381 companies exhibited. More than 50,000 visitors attended from 127 countries.

Woodworking Industry News

Berkline Recalls Heated Massage Recliner

WASHINGTON – Berkline Benchcraft LLC of Morristown, TN, has recalled about 1,700 heated massage recliners due to a burn hazard, according to the Consumer Products Safety Commission. The recliners were made in China and sold exclusively at Value City Furniture and American Signature Furniture stores for about $400 between December 2006 and February 2007. The CPSC said Berkline received three reports of the control device overheating. No injuries have been reported.

Woodworking Industry News

Canada's Biggest Woodworking Show Incorporates New Closets Event

TORONTO - The Woodworking Machinery & Supply Expo (WMS), Canada's premiere biennial woodworking event, will feature a new Closets & Home Organization Conference and a Closets Pavilion. Booth space is nearly sold out for the three-day show, scheduled for Oct. 26-28 at the International Centre in Toronto. The new Closets Pavilion will feature hardware, systems and accessories specifically geared for closet, garage and other home storage products.

Woodworking Industry News

BIFMA"s Updated Outlook Shows More "Realistic’ Growth

GRAND RAPIDS, MI –According to Michigan Live, the Business and Institutional Furniture Manufacturer’s Assn.’s updated quarterly outlook forecasts growth of 6% in industry-wide shipments for 2007, to $11.5 billion. Reportedly, a slower growth in the U.S. economy in recent months led to a modest downgrade in the latest outlook for the office furniture industry. BIFMA’s previous quarterly outlook in February projected shipments to grow 7.3% in 2007 and 7.1% in 2008.

Woodworking Industry News

New-Home Sales Up 16.2% in April

WASHINGTON -- Sales of new single-family homes increased 16.2% in April to a seasonally adjusted annual rate of 981,000 units, according to figures released by the U.S. Commerce Department on May 24. The April sales pace was 10.6% below a year earlier.

Woodworking Industry News

U.S. Plywood Makers Testify Against China

MEDFORD, OR – U.S. manufacturers of hardwood plywood used in kitchen cabinets and furniture testified they are in danger of being driven out of business by Chinese panels that are cheaper, and often made with toxic glue and timber that is harvested illegally.