Masco Cabinetry moves headquarters
The Masco Cabinetry organization has announced it is moving its headquarters to Ann Arbor, Mich.
“The Ann Arbor area offers our new organization the benefits of a major metropolitan area in a non-urban setting,” said Karen Strauss, president of Masco Cabinetry. “The region is widely recognized as a desirable place to live and work. In addition, locating our headquarters in a new space provides us with a unique opportunity to combine strengths and talents of the two organizations in fresh and creative ways to best meet the needs of customers, our employees and our company.”
Masco Cabinetry is the parent company of cabinetmakers KraftMaid, Merrilat, and Quality Cabinets, several private-label brands and DeNova countertops. The company announced in February that it would be combining its two cabinet companies, Masco Retail Cabinet Group and Masco Builder Cabinet Group into Masco Cabinetry. The two companies are headquartered in Middlefield, Ohio, and Adrian, Mich., respectively.
Wolohan founder passes
Founded in 1964, Wolohan Lumber operated 65 stores in Michigan, Indiana, Ohio, Wisconsin, Illinois and Kentucky at its peak in 1996. The chain was sold to United Building Centers (now a part of ProBuild) in March 2006.
February housing starts slip
Residential construction data released by the Commerce Department Tuesday morning shows housing starts at a seasonally adjusted annual rate of 575,000, down 5.9% from an upwardly revised January figure.
The numbers marked another in a long line of uninspiring, unsurprising residential construction reports. A Thomson Reuters survey of economists and analysts showed a consensus forecast for a SAAR of 570,000.
Single-family housing starts in February were also holding steady at a rate of 499,000, down 0.6% from January.
One positive takeaway is that January wasn’t quite as bad as reported last month. The total housing start figure was revised upward from 591,000 to 611,000, and the single-family stat was revised upward from 484,000 to 502,000. The revised numbers for January are the strongest total since November 2008.
Building permits showed a slight decline in February, decreasing 1.6% to 612,000. Single-family permits were flat at 503,000.
On a regional basis, the Midwest and the South showed relatively strong metrics. In the Midwest, single-unit starts increased 72.2% from a year ago, and 20.8% from a month ago. In the West, single-family starts increased 78.7% compared with last year, and increased 3.8% compared with January’s rate.