Discover card embraces home improvement
Discover Financial Services is offering extra cashback for home improvement store purchases.
Discover card members can earn 5% Cashback Bonus on up to $1,500 in purchases at home improvement stores. The deal runs through June 30.
“Spring is the perfect time to start a home improvement project, such as reinvigorating your kitchen or finishing a new stone patio in time for summer,” said Dana Traci, VP rewards at Discover. “This quarter, cardmembers can quickly build their Cashback Bonus rewards while they spruce up their homes for the warmer months ahead.”
After making $1,500 in home improvement purchases, Discover cardmembers will continue to receive their standard cash back on all other purchases.
HIRI Spring Conference set for April 17
The Home Improvement Research Institute (HIRI) will hold its 2013 Spring Conference in Orlando, Fla., April 17.
The theme of the series of research-related presentations is “New approaches for deep insights into home improvement.”
On the agenda are presentations from The Futures Group, National Analysts Worldwide, Decision Analyst, IGH Global Insight, Gigwalk Inc., The Stevenson Co. and Ipsos.
Held at the DoubleTree by Hilton Hotel Orlando Airport, the event runs from 8:30 a.m. to 3:30 p.m.
Spectrum completes Tong Lung acquisition
Madison, Wis.-based Spectrum Brands Holdings says it completed the acquisition of the residential lockset business of Tong Lung Metal Industry Co. (Tong Lung), a Taiwanese manufacturer of residential and commercial locksets and related hardware,
The deal was linked to Spectrum’s cash purchase of the Hardware & Home Improvement Group of Stanley Black & Decker on Dec. 17.
The commercial lockset business of Tong Lung will remain with Stanley Black & Decker.
A total of $100 million of the $1.4 billion HHI purchase price had been held in escrow until the closing of the Tong Lung portion of the HHI acquisition.
The purchase includes the Tong Lung Metal Industry Co. name, a major residential lockset manufacturing plant in Subic Bay, Philippines and sales, R&D and engineering operations for tooling and new product development in Taiwan.
For the 12 months ended Dec. 31, 2011, the Tong Lung residential business had sales of approximately $48 million, excluding sales to HHI. Tong Lung’s residential OEM and branded lockset sales are primarily to customers in North America, Asia and Latin America. Tong Lung-branded products are predominantly sold under its EZSET brand.