MUSCATINE, IA - HNI Corp. has acquired BP Ergo Ltd., a large manufacturer of office furniture with headquarters in Mumbai, India. News of the acquisition was announced Aug. 13.
According to a statement from HNI, BP Ergo will continue to operate as a stand-alone business. HNI said the acquisition will "have minimal impact on 2012 earnings."
HNI recenty reported net income of $7 million on sales of $480.4 million for the second quarter of 2012. Sales for the office furniture segment increased 12.3% to $418.6 million.
Founded in 1992, Ergo has more than 300,000-square-feet of manufacturing space, according to its website. Ergo's brands include Element, Connect, Alfa, League, Va Va Voom, Stratum and Ensemble. According to information from the company, it is ISO 9001:2000 certified and its products meet BIFMA and FIRA standards for finished product testing.
"We're excited about the addition of BP Ergo to HNI. BP Ergo's strong brand, significant customer base and solid manufacturing capabilities provide opportunity to drive aggressive growth in India, one of the largest and fastest growing office furniture markets in the world. Our entry into India complements our experience and success in China and supports our international strategy for expansion in fast-growing economies," HNI Chairman, President and CEO Stan Askren said in a statement.
HNI Corp. reportedly is the second largest office furniture manufacturer in the world as well as a leading manufacturer of gas- and wood-burning fireplaces. Its brands include: HON, Allsteel, Gunlocke, Paoli, Maxon, Lamex, HBF , Artco-Bell, Midwest Folding Products, LSI Corp. of America, Heatilator, Heat & Glo, Quadra-Fire and Harman Stove. In November 2011 HNI Corp. also acquired Sagus International, a manufacturer of wood and laminated educational furniture.
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