Currey & Company recalls chandeliers
Currey & Company of Chico, Calif., announced a recall of 10 models of its chandeliers.
Defective wiring can conduct electricity to the Chinese-made chandeliers’ metal parts, posing an electric shock hazard to consumers, according to a release from the U.S. Consumer Product Safety Commission.
About 2,100 of the crystal or metal chandeliers were sold in the United States and 100 in Canada. They were sold in various colors and measure approximately 21 inches wide and 55 inches high. The model name is on the exterior of the shipping carton. Item numbers are printed on a white label on the interior of the chandeliers’ canopy.
No injuries have been reported.
Sold at: Home furnishing stores, lighting centers and by interior decorators nationwide, online at lightingdirect.com and Amazon.com, from January 2010 through February 2013 for about $500 to $3,250.
The manufacturer is YQF Lighting Manufacturer Co. of China.
Valspar Corp. names new director
Minneapolis-based The Valspar Corp. announced that its board of directors elected Shane D. Fleming to serve as a director of the corporation.
Fleming, 54, was also appointed to serve on the board’s compensation committee, effective June 4, 2013. He is currently chairman, CEO and president of Cytec Industries, a global specialty material and chemical technologies company.
“Shane brings to the Board a deep understanding of the resin, polymer and specialty chemicals industries and many of the markets we serve,” said Gary E. Hendrickson, Valspar chairman and CEO. “His international business experience and coatings industry background will be invaluable as we continue to grow our business. It’s a pleasure to welcome Shane to our board.”
Prior to becoming chairman and chief executive officer of Cytec Industries in January 2009, Fleming served as the company’s president and chief operating officer. He began his career with Cytec in 1983 and held a number of senior leadership roles throughout his 30-year tenure.
Electrolux sees improving environment
Electrolux reported that sales in North America were $1.2 billion, a 12% increase from the first quarter of last year.
“We are seeing evidence that the recovery in the housing market is finally generating increased consumption of appliances,” said president and CEO Keith McLoughlin. “As such, our view is that demand for appliances could increase with 3% to 5% in 2013.”
The company had previously forecast a 1% to 2% increase for the year.
Profit increased 3.6 times to $71 million, or an increase of 262%, over the prior year.
The company’s performance was primarily driven by higher sales volume of core appliances, room air conditioners and consumable products. Additionally, consumers are now purchasing more high-end products yielding a positive product mix.