Woodworking Industry News

Woodworking Industry News

HNI Corp. Sets Sights on Greater China Market

MUSCATINE, IA – HNI Corp. moved into the Greater China region last year by acquiring Lamex. Now, Lamex is assisting HNI in expanding its business development of the Mainland and Hong Kong markets, according to Media-Newswire. The new flagship showroom, branded under Lamex, displays international award-winning office furniture, including chairs designed by Allsteel.

Woodworking Industry News

Trendway Corp. Appoints New President

HOLLAND, MI – Trendway Corp., a manufacturer of office furniture, has promoted William Bundy to president, according to Michigan Live. Formerly, Bundy served as executive vice president. Bundy replaced Mark Groulx, who resigned as president to pursue other interests, the company said.

Woodworking Industry News

Ethan Allen Q2 Earnings Drop 13%

DANBURY, CT – Ethan Allen Interiors Inc. reported net earnings of $22.8 million on sales of $257.4 million for its second quarter ending Dec. 31, 2006. This compares to $26.8 million in net earnings on $276.0 million in sales for the same quarter in 2005. Despite a 13% decline in net earnings, Farooq Kathwari, Ethan Allen's chairman and CEO, said, "We saw positive trends in comparable written sales during the month of December. We also recognize that the home furnishings retail environment, as a whole, remains uncertain."