November 14, 2011

KraftMaid, the industry’s largest cabinet manufacturer, has laid off 175 hourly workers at factories in Orwell and Middlefield, Ohio, according to an article in the Warren Tribune Chronicle.

A spokeswoman for parent company Masco told the newspaper that, "Prolonged economic conditions have severely impacted the housing market, whether new construction or remodeling. The current climate remains challenging."

October 24, 2011

Taylor, Mich.-based Masco Corp. reported third-quarter sales of $2 billion, up 3% from the same quarter last year. Masco's net income was $36 million for the quarter, compared with a net loss of $5 million in the third quarter of 2010.

CEO Tim Wadhams said the top line was lifted by "strong sales of plumbing-related products driven by share gains of our Hansgrohe and Delta brands, share gains in our Installation segment and foreign currency translation."

February 14, 2011

For Masco Corp., 2010 was a tale of two very different halves, according to CEO Tim Wadhams. 

The diverse home product company saw sales rise in the first half. Then, as the new home buyer tax credit expired and competition stiffened as costs increased, sales went south. "Our installation and cabinet businesses, which are tied to new-home construction and big-ticket repair and remodel activity, were particularly hard hit," he said.

October 26, 2010

The company behind Behr paint, Liberty Hardware, Arrow Fasteners and Delta Faucets feels the economic...