WEST PALM BEACH, Fla. – As many custom woodworkers find out, being great at designing and fabricating cabinets and furniture does not necessarily translate into being adept at managing the business side of things.

The Stop Tip-overs of Unstable, Risky Dressers on Youth Act – known as STURDY – was passed by Congress in December as part of the $1.7 trillion fiscal 2023 omnibus spending bill. It was signed into law when President Biden signed the spending package.

Existing-home sales declined for the tenth month in a row in November, according to the National Association of Realtors. All four major U.S. regions recorded month-over-month and year-over-year declines.

The "Luxury Furniture Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027" report has been added to  ResearchAndMarkets.com's offering.

Peak Toolworks has acquired Expert Die, Inc. in Dalton, Georgia, Details of the acquisition were not released. With the acquisition, Peak has strengthened its presence in Southern USA with this brick-and-mortar sharpening site. the company now has 12 locations across North America.

SAIB, based in Caorso, near Piacenza, has been one of the leading wood-based materials manufacturers in Italy for 60 years, with a strong focus on design and sustainability. For the plant with around 200 employees, the majority shareholding by EGGER opens up further growth and synergies in this globally active group of companies. With this investment, EGGER is confirming its strategy of further growth in its home market of Europe.

BETHLEHEM, Pa. — The NKBA, a trade association for the kitchen and bath industry and owner of the Kitchen and Bath Industry Show (KBIS), announced its 2023 Board of Directors. Jan Heck, President and CEO of Miele USA, was elected NKBA Board Chair, succeeding Basil E. Larkin, Senior Vice President of Sales at Hestan Commercial Corp.  

Genesis Products Inc. has acquired BHK of America based in South Boston, Va. The acquisition will integrate BHK’s 46 years of production innovation in drawer components with Genesis Products’ 20 years of expertise as a leading supplier of laminated panels, wood components and custom molded solutions

Metrie has announced the acquisition of the Hemlock and Alder manufacturing and distribution business of Fred Tebb & Sons, Inc., a solid wood molding manufacturer and distributor based in Oregon.

Marvin’s CEO Paul Marvin announced that more than $12.5 million in profits would be shared among 7,062 employees across all Marvin locations this year.