La-Z-Boy announced it will close its Hudson, NC, plant, moving all casegoods production overseas as part of its restructuring efforts. The furniture company also said it will sell its Lea furniture brand.
MasterBrand Cabinets was most-viewed reported this week. Surfing the home building and remodeling recovery, it will spend $8 million expanding Indiana operations. Also popular: horses hate walnut board-shavings.
Amid roaring wood manufacturing improvement is another trend: European investment in the U.S. woodworking industries. A Belgium furniture factory opening in High Point, NC is among this week's most vewed wood industry reports.
La-Z-Boy Inc. will sell upholstered furniture maker Bauhaus USA Inc. to an investor group led by Britt Allred, president of Bauhaus. The sale is expected to close in the fourth quarter. La-Z-Boy acquired Bauhaus for $60 million in 1999.
La-Z-Boy sales rose 13.7% to $366 million in the second quarter, Lean manufacturing and good marketing have put the upholstered furniture maker on a solid footing for continued growth, says CEO Kurt Darrow.