New president for Delta, Brizo and Peerless
Indianapolis-based Delta Faucet Co., a division of Masco Corp., promoted VP sales Richard O’Reagan to the post of company president.
He replaces Keith Allman, who was promoted to group president for Masco.
O’Reagan will be responsible for leading the development of new products and overseeing manufacturing and marketing for the Delta, Brizo and Peerless brands. In a press release, he said he intended to build on the company’s strong brands, innovations and service, while also promoting advances in water efficiency.
He joined Delta Faucet Co. in 2008.
“Richard’s background in marketing and experience in systems engineering and driving strategic development will support Delta Faucet Co. as it continues to pave the way for innovation in residential and commercial settings,” Allman said.
Jon Dartt has been promoted to O’Reagan’s former position as VP sales at Delta Faucet Co., and Ken Roberts has been promoted to the position of VP trade sales.
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Slipcover maker enters outdoor living category
Sure Fit Inc., a New York-based manufacturer of slipcovers, furniture covers and other home accessories, has acquired the assets of the Patio Armor brand of covers for patio furniture, barbecue grills and other outdoor products from Trilink Global. Financial terms of the transaction were not disclosed.
“This acquisition is an excellent fit with our stated growth strategy to expand our category leadership position through both organic means as well as synergistic, bolt-on acquisitions,” said Hugh Rovit, CEO of Sure Fit.
Tom Atchison, who has served as director of sales of the Trilink business since 2008, has joined Sure Fit as VP sales outdoor division.
Sure Fit’s product line includes ready-made slipcovers for sofas, loveseats, chairs, wing chairs, dining room chairs, recliners, ottomans, futons and folding chairs, as well as furniture throws. Additionally, Sure Fit carries coordinating decorative pillows, curtains, rugs, lamps, furniture, pet solutions and kitchen decor.
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Analyst: New-home data hits bottom, probably
A report from Global Hunter Securities describes the new-home market as "finally forming a bottom."
Based on the number of new homes available for sale, the months required to sell them and the total new homes for sale, there’s some good news, according to Global Hunter Securities: "We believe the new-home market is finally forming a bottom."
In a research paper, GHS analyst Richard Hastings wrote: "The number of new homes sold per month remains quite low by historical comparisons, at about 25,000 units per month on average (not seasonally adjusted). The number of new homes available for sales hit an all-time record low at 162,000 units in October (unadjusted). Based on our interpretation of the Census data, we believe the industry’s ability to move inventory and to balance new project commitments to market demand all point to improvements in the new-home market for sales and construction."
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