MUSCATINE, Iowa – HNI Corp. completed the sale of its China and Hong Kong-based Lamex office furniture business. The business was acquired by Kokuyo Co., Ltd. for $75 million, subject to standard post-closing adjustments. Kokuyo is a leading manufacturer and provider of office furniture in Japan and across Asia.

Jeff Lorenger, HNI Chairman, president, and CEO said, “Lamex has been a good business for HNI, and we believe Lamex will continue to be successful under Kokuyo’s ownership. The sale of Lamex will further streamline our business portfolio and allow us to better focus on our core strategies.”

In the most recent listing of the FDMC 300,  a ranking of the top woodworking company in North America, HNI Corp. ranked #12 with an estimated $1.2 billion in sales. The company produces contract/office furniture; desks, credenzas, filing/storage, office systems, office chairs, bookcases, conference tables, home office furniture, glass walls, and more in 11 manufacturing facilities.