DMG
World Media Expands Kitchens And Bathrooms Portfolio
On the first day of BK EXPO dmg world media announced the acquisition
of the Bathrooms & Kitchens portfolio from Quantum Business Media
Ltd. This portfolio includes, the biennial Bathrooms & Kitchens Expo
(May 8-10, 2005 at ExCeL); the prestigious annual Bathrooms & Kitchens
Industry Awards, Bathrooms & Kitchens magazine; the annual Bathrooms
& Kitchens Directory and the Bathrooms and Kitchens website, www.bathroomskitchens.co.uk.
Management of the new business will move to dmg world media's offices
in Harrow and the portfolio will report to Milton Barratt, Group Publishing
Director and become part of the Consumer UK division.
Amongst other titles, dmg world media publishes the market-leading consumer
magazine, Kitchens Bedrooms & Bathrooms and the industry 'bible,'
the trade magazine kbb review. This acquisition offers dmg world media
the opportunity to expand its kitchen and bathroom portfolio and exploit
the synergy between the new products and its existing portfolio.
Milton Barratt, Group Publishing Director commented, 'We are very excited
about this opportunity and are looking forward to working with the talented
staff who will be joining us in Harrow. Our portfolio already offers customers
a wealth of expertise, and over 20 years of being a partner to the kitchens
and bathrooms industry. Our commitment is already clear to our customers
and we believe this new expanded division will benefit them even further.'
'The acquisition of the Bathrooms & Kitchens EXPO brings a new and
welcome dimension to our business,' says Milton Barratt. 'Our purchase
of the annual Bathrooms & Kitchens Industry Awards means we can continue
to recognise and reward excellence in design and retailing.'
'With regard to Bathrooms and Kitchens magazine, we have taken the strategic
decision to incorporate this publication within kbb review. This means
we can combine the strengths that we recognise the Bathrooms and Kitchens
magazine brought to the market, with those of our own title, kbb review.
This will allow us to expand our markets offering more support to our
clients in the Kitchens, Bedrooms and Bathrooms sector. Our track record
of commitment to this industry speaks for itself - we have a passion for
it and now we will be able to provide an even better targeted reach for
all our customers.'
Bathrooms & Kitchens Expo, a biennial event held at ExCeL in London,
was launched in 2001. The show in May will be its third edition, attracting
a high-spending influential audience of buyers, specifiers and retailers.
Now in their 11th year the Bathrooms & Kitchens Industry Awards recognise
and reward excellence in design and retailing.
Listing 2,500 entries, the Bathrooms & Kitchens Directory is published
annually, offering high street retailers the opportunity to keep up-to-date
with suppliers.
For more information contact:
Milton Barratt, Group Publishing Director, dmg world media. 020 8515 2069
miltonbarratt@uk.dmgworldmedia.com
Jacuzzi
Brands Announces Q2 2005 Financial Results - and Sells Rexair
Jacuzzi
Brands, Inc., announced on 10th May earnings for the second quarter ended
April 2nd, 2005. Net sales for the second quarter of fiscal 2005 increased
1.4% to $337.6 million from net sales of $332.9 million for the second
quarter of fiscal 2004. Operating income for the fiscal 2005 second quarter
increased 18.3% to $21.3 million from operating income of $18.0 million
for the second quarter of fiscal 2004. Net earnings for the second quarter
of fiscal 2005 increased 27.1% to $7.5 million, or $0.10 per share, from
$5.9 million, or $0.08 per share, in the second quarter of fiscal 2004.
Higher consolidated net sales in the second quarter of fiscal 2005 were
driven primarily by the 15.0% increase in Plumbing Products sales. The
Plumbing Products and Bath Products segments each reported increases in
operating income, which offset a slight decline in operating income at
Rexair. Net income for the second quarter of fiscal 2005 included restructuring
charges of $1.2 million, or $0.01 per diluted share, as compared to restructuring
charges of $3.0 million, or $0.03 per diluted share, in the same period
one year ago. Net income for the fiscal 2005 second quarter was favourably
impacted by a reduced effective tax rate resulting from a $2.9 million
tax benefit recognised upon completion of a Federal tax audit. The operating
results at each of the Company's three business segments are discussed
more fully below.
Bath Products
Sales in the Bath Products segment decreased 1.9% in the second quarter
of fiscal 2005 from the same period in fiscal 2004. A $3.6 million foreign
currency benefit was offset by lower sales in the U.K. Bath and Sink businesses
caused by a decline in the U.K. market, lower domestic spa sales and a
$1.7 million decline in Eljer® branded sales attributable to the previously
announced product rationalisations. Bath and Sink sales in the U.K. declined
as the market abruptly slowed in the second half of the quarter and retailers
reduced orders to address higher inventory levels. Domestic spa sales
decreased primarily because of a sluggish market resulting from an unusually
wet winter in a number of regions and higher energy costs. Service disruptions
experienced when consolidating the customer service functions into the
Dallas, TX shared services centre also contributed to the lower spa sales.
Changes are being implemented to address the customer service issues.
Operating income increased to $5.0 million in the second quarter of fiscal
2005 from $2.5 million in the second quarter of fiscal 2004. Earnings
were impacted by $1.2 million of restructuring charges, which was a $2.1
million reduction from the $3.3 million in restructuring charges in the
year ago quarter. In addition, the Company settled a dispute with the
previous owners of the Sundance Spas business regarding the payment of
pre-acquisition warranty costs for $3.5 million, resulting in a $2.2 million
reduction in warranty costs in the second quarter of fiscal 2005. Results
for the second quarter of fiscal 2004 included a $4.1 million increase
in bad debt reserves associated with financial difficulties encountered
by several Brazilian distributors.
Operating income in the second quarter of fiscal 2005 was negatively impacted
by the year over year decline in sales and higher SG&A costs associated
with the Company's global branding, marketing and product development
initiatives. Operating results also included costs for the expansion of
the Malta stainless steel sink plant, the separation of the President
of the Company's Jacuzzi business unit, and the opening of the Zhuhai,
China Engineering and Sourcing Centre. Product price increases benefited
the quarter and offset higher commodity prices.
Capital expenditures increased during the second quarter of fiscal 2005
as the Company continued to invest in new products and upgrades in point-of-sale
materials and merchandising.
Donald C. Devine, President and Chief Operating Officer of Jacuzzi Brands,
stated, ‘While we did benefit from higher product pricing that offset
higher commodity costs, we are disappointed in our second quarter Bath
Products segment results. We expect the U.K. markets to slowly improve
throughout the remainder of the year. In early April, we realigned the
management of the Jacuzzi Bath business to report directly to me, promoting
a sharpened focus on sales growth, cost reduction and margin expansion.
We have reduced personnel in our U.K. Bath operations in Bradford to match
the lower volume levels. The opening of our new Zhuhai Engineering and
Sourcing Center will help to accelerate our margin expansion efforts and
offset commodity price inflation, by broadening access to low cost suppliers
of components for our products.’
Plumbing Products
Sales in the Plumbing Products segment increased 15.0% to $82.1 million
in the second quarter of fiscal 2005 compared to the same period last
year. The higher sales were driven by the continued growth in all of the
Company's principal markets, the market's increasing conversion from copper
pipe to PEX tubing in plumbing applications, and the full realisation
of price increases implemented during the latter half of fiscal 2004 to
offset higher raw material costs.
Operating income for the second quarter of fiscal 2005 increased 26.4%
to $15.3 million (18.6% of sales) from $12.1 million (16.9% of sales)
in the same period last year. Strong sales volume and favorable pricing
continue to offset higher scrap iron and steel costs leading to the improved
margins.
Rexair
Rexair's sales decreased 5.5% or $1.6 million in the second quarter of
fiscal 2005 compared to the same quarter of fiscal 2004. Domestic sales
continue to be challenged by the ‘Do Not Call’ legislation,
which restricts the calling of referred customers without first obtaining
permission. Rexair has launched alternative strategies to replace appointments
lost due to this legislation, such as setting up referral appointments
while still in the home, registering people at trade shows, and door-to-door
registrations.
Rexair's second quarter fiscal 2005 operating income remained relatively
stable at 21.7% of sales versus 22.9% of sales in the same period last
year, despite lower sales.
David H. Clarke, Chairman and Chief Executive Officer of Jacuzzi Brands,
stated, ‘Although we continue to be pleased with our Plumbing Products
segment results, we are disappointed in the Bath Products segment. As
the expected increase in sales has not materialised, we have put cost
reduction plans in place to improve profitability in the second half of
fiscal 2005. We, like the rest of our industry, continue to monitor both
commodity prices and recent consumer spending trends. We are taking the
necessary steps to mitigate their impact on our operating results.’
Outlook
The Company expects to report net earnings from continuing operations
of $0.84 to $0.88 per share for fiscal 2005. Included in this amount is
the after tax gain on the sale of Rexair, net of related debt retirement
costs, of approximately $24 million or $0.31 per share, the $2.9 million
tax benefit ($0.04 per share) and restructuring charges of $5.8 million
($0.05 per share). Excluding these amounts, net earnings from continuing
operations for fiscal 2005 is expected to be in the range of $0.54 to
$0.58 per share which is below prior estimates largely as a result of
the sale of Rexair, the decline in the U.K. bath market and the sluggishness
in the spa market.
As previously announced, the Company entered into an agreement to sell
70% of its investment in Rexair in a transaction valued at $170 million.
The Company expects net cash proceeds at closing to total approximately
$145 million, a portion of which will be used to pay off its term loan
and the outstanding balances under its credit agreement, which together
amounted to approximately $86 million at March 31st, 2005. The after tax
gain, net of debt retirement costs, of approximately $24 million is expected
to be included in the Company's financial results in the third quarter
of fiscal 2005. The Company expects to begin accounting for its remaining
investment in Rexair under the equity method of accounting in the fourth
quarter. The loss of Rexair earnings for the remainder of the year, net
of lower debt cost and a higher tax rate, will reduce forecasted fiscal
2005 EPS by $0.04 per share. The transaction is subject to the receipt
of debt financing by the acquirer, antitrust approval and other customary
closing conditions, and is expected to close by the end of Jacuzzi Brands
fiscal 2005 third quarter ending July 2nd, 2005.
Jacuzzi Brands, Inc., through its subsidiaries, is a global manufacturer
and distributor of branded bath and plumbing products for the residential,
commercial and institutional markets. These include whirlpool baths, spas,
showers, sanitary ware and bathtubs, as well as professional grade drainage,
water control, commercial faucets and other plumbing products. We also
manufacture premium vacuum cleaner systems. Our products are marketed
under our portfolio of brand names, including JACUZZI®, SUNDANCE®,
ELJER®, ZURN®, ASTRACAST® and RAINBOW®. Learn more at
http://www.jacuzzibrands.com.’
Jacuzzi
Brands Announces Sale of Rexair
Jacuzzi
Brands, Inc. announced on 9th May that it has entered into an agreement
to sell Rexair, Inc. to Rhone Capital LLC in a transaction valued at $170
million.
Jacuzzi Brands will retain a 30% interest in Rexair after consummation
of the transaction. The transaction is subject to the receipt of debt
financing by the acquirer, antitrust approval and other customary closing
conditions, and is expected to close by the end of Jacuzzi Brand's fiscal
2005 third quarter ending July 2nd, 2005.
Rexair manufactures the Rainbow® e2™ premium vacuum cleaner system
for the global direct sales market. Rexair markets the Rainbow vacuum
cleaner system to an exclusive network of independent distributors in
more than 70 countries who in turn sell it directly to consumers through
in-home demonstrations. Rexair generated sales of approximately $104.8
million and operating income of approximately $27.3 million in the fiscal
year ended October 2nd, 2004.
Rhone Capital LLC, a closely-held firm, specialises in mid-market leveraged
buyouts, recapitalisations and partnerships. The investment in Rexair
will come from Rhone Partners II, LP, Rhone's second private equity fund,
and Rexair senior management. The transaction will be financed with a
credit facility arranged by Credit Suisse First Boston.
The Company expects net cash proceeds at closing to total approximately
$145 million, a portion of which will be used to pay off its term loan
and the outstanding balances under its revolving credit facility, which
together amounted to approximately $86 million at March 31st, 2005.
David H. Clarke, Chairman and CEO of Jacuzzi Brands, said, 'This is an
excellent transaction for us. It is at a favourable price and also provides,
together with Rhone and Rexair management, a continuing participation
in the future upside of the business. We have said that Rexair is non-essential
to our bath and plumbing focus and that we would sell it at the appropriate
time. While that time has now arrived, the sale provides a significant
amount of excess cash which, at least temporarily, cannot be used to pay
down our bond debt. The result is that we will have a certain amount of
negative interest arbitrage and also our earnings per share will be reduced.
For this reason, our board of directors is reevaluating our current course
to determine if there are alternative strategies for our Company which
might create additional value for our shareholders. To this end, we have
retained Lazard Freres & Co. LLC to assist us in our evaluations.'
Web: http://www.jacuzzibrands.com
Maytag
UK Announces New Sales Director
Maytag
UK, the American appliance specialist has announced the appointment of
a new member to the management team, Julie Blaylock, Sales Director.
Julie
joins from Whirlpool, where she spent fifteen years in various positions,
the latter as Channel Manager, Retail Sales. Beginning her career in retail
sales, Julie brings a wealth of sales experience gained through both the
independent and multiple retail sales sectors. Richard Thompson, Managing
Director, says of her appointment, ‘Our strategy is to deliver excellent
support and service to our trade partners while working with them to deliver
business growth and profitability. Julie will spearhead this strategy
and is an excellent addition to our leadership team with her proven sales
skills, wealth of knowledge and experience. She will be a huge asset in
continuing the communication of the Maytag brands to the market place
and progressing the development of new and future opportunities.’
Julie’s focus will be to support and direct the established sales
team providing the best and most professional business advice with added
value for Maytag’s trade partners. ‘I am delighted to be joining
the Maytag team and am looking forward to the challenges facing the business
and using my experience to help strengthen an already strong sales and
marketing function. Our fantastic new range of appliances, launched recently
to the trade, is great timing and maximises opportunities for distribution.
We shall be seeking to continue to build and increase Maytag’s dominance
in the market and fulfil the Maytag promise to our trade partners and
the consumer. Maytag is at the leading edge of appliance design and has
been for the last 100 years. We are the genuine American appliance company
that exists to serve customers and exceed expectations for stylish, durable
and dependable products. Our future lies in continuing to provide exceptional
service in all areas of the operation and with our experience that is
an area we can excel,’ explains Julie.
Tel: 01737 231000
Villeroy
& Boch Sales up 1.2% in 2004
When
compared with prior-year figures of Euro 948.6 mill., Group sales recorded
an absolute rise of 1.2% to Euro 959.9 mill.. Following structural adjustment,
consolidated sales rose 3.7%. The Villeroy & Boch Group recorded sales
increases in virtually all foreign markets. Again accounting for roughly
70% of total sales, the share of foreign sales remained stable and was
thus able to compensate for the slightly reduced domestic sales. Against
the background of persistently weak domestic demand and declining levels
of capital spending on new construction, when compared with prior-year
figures, domestic sales in the Villeroy & Boch Group fell by a minimal
0.6% to a total of Euro 285. 7 mill..
Strong Improvement in Result
A clear improvement was recorded in the Villeroy & Boch Group operating
result (EBIT), which rose from Euro -17.7 mill. to Euro 33.8 mill. This
positive trend is strengthened even more by the increased financial results,
allowing the result from ordinary operations (EBT) to rise Euro 54.5 mill.
from Euro -30.8 mill. in 2003 to Euro 23.6 mill. The Euro 16.7 mill. results
for the year after taxes are clearly higher than those of Euro -25.4 mill.
in the previous year.This increased result is to be attributed above all
to the rise in contribution margins and the cuts made in production costs
per unit. Effects can be seen here essentially from the production conversions
initiated at the tableware factories in Merzig and Luxembourg in the previous
year, and also from the improved utilisation and specialisation of factory
capacity in the Bathroom and Wellness Division.
Increased Dividend Proposal
As the result in 2004 improved greatly in comparison with prior-year figures,
the Management Board and Supervisory Board propose a dividend which is
higher than that of the previous year, namely Euro 0.42 per individual
preference-share certificate and Euro 0.37 per individual ordinary-share
certificate. This constitutes a dividend increase of 40% per individual
preference-share certificate and 48% per individual ordinary-share certificate.
Trend in the Divisions
Sales in the Bathroom and Wellness Division rose from Euro 410.6 mill.
to Euro 421.0 mill. Compared with prior-year figures, the operating result
(EBIT) increased Euro 14.7 mill. to total Euro 26.0 mill. A contribution
was made towards this improved performance by both the Wellness and the
Bathroom and Kitchen Business Segments.Tableware Division sales rose 11.0%
in 2004, bringing the total to Euro 317.1 mill. In addition to the slight,
1.3% increase in domestic sales, it was primarily the 15.2% sales increase
secured in foreign markets which helped the Division achieve its record
sales level. The result (EBIT) improved considerably from Euro 1.4 mill.
to Euro 20.2 mill.. Wendelin von Boch commented on this improvement as
follows: 'The capital expended to automate our tableware factories is
beginning to show its effects. The technological quantum leap has brought
about a higher degree of efficiency and a clear rise in productivity.
A considerable contribution towards this result was also made by the internationally-strong
demand for innovative tableware design.'
Compared with prior-year figures Tile Division sales fell 3.2% from Euro
229.1 mill. to Euro 221.8 mill., after structural adjustments to exclude
the effect of divestments. The operating result (EBIT) rose Euro 18.0
mill. to total Euro -12.4 mill.. Consideration must be given here, however,
to the special expenses of Euro 17.4 mill. incurred in the previous year
for restructuring measures.
Slight Decrease in Number of Persons
Employed After adjustments have been made for part-time workers, the number
of persons employed in the Villeroy & Boch Group, decreased 11.5%,
from 10,254 to 9,074.
Outlook for the Year 2005
As the economic outlook remains strained, an easy 2005 business year is
not expected for Villeroy & Boch, who still, however, aims to improve
its consolidated result. Owing to the divestments carried out in the Tile
Division in 2004, it is not expected that consolidated sales in the 2005
business year will exceed those of the prior year.
1st Quarter of 2005
Compared with the prior-year period, sales experienced a decline of 6.5%
in the first quarter of 2005, the greatest contribution being made towards
this decline by the Tile Division and Wellness Business Segment. Tableware
Division sales and sales in the Bathroom and Kitchen Business Segment,
however, were only slightly below the prior-year level.
Despite this sales decline, the Villeroy & Boch Group expects the
result in the first quarter of 2005 to be only slightly lower than that
of the previous year.
Free
Top of the Range Cookware from De Dietrich
De
Dietrich, the premium appliance brand is offering a free six piece pan
set with every induction hob purchased until 30th June 2005.
Pioneers
of this technology, which is double the speed of gas, De Dietrich says
that it has the biggest range of induction hobs on the market. These range
from 30cm domino hobs to supersized 90cm five zone induction hobs.
All come with seven separate safety features including anti overheat,
anti overflow, automatic stop, a residual heat indicator for each zone,
child lock, automatic pan detection and small object detection.
Induction is economical as there is virtually no energy loss as it is
the pan that heats and not the hob, and the flat glass surface is also
very easy to clean.
The six pans come in fashionable stainless steel with safety glass lids.
The collection includes milk pan, saucepans, double handle casserole dishes
and a large flat bottomed frying pan.
All pans are suitable for induction cooking.
For application forms for the freesaucepan promotion, please contact your
local De Dietrich Area Sales Manager. Email: mailto:marketinguk@elcobrandt.com
or visit http://www.dedietrich.co.uk.
BMA
Launches Dedicated Training Micro Web Site
The
Bathroom Manufacturers Association (BMA), the trade association which
represents 87% of bathroom manufacturers trading in the UK, has announced
that its dedicated training micro web site has gone live.
The site aims to be recognised as the 'hub' for information on training
within the Bathroom Industry and offers the visitor a host of information
including advice on career paths within the bathroom industry, manufacturers
training courses, useful links to relevant bodies and bathroom manufacturers
to a set of Industry Generic Guides covering the broad spectrum of bathroom
products.
Included in the Guides are Sanitaryware and Fittings, Baths, Shower Controls,
Enclosures Screens and Trays, Brassware, Furniture, Wet Rooms, Special
Needs and Health and Safety. The Guides offer essential information which
allows all sectors of the supply chain to sell the right product for the
end user needs and is ideal support material to existing NVQ courses.
The BMA working alongside the education system and lead training and development
bodies across the UK, wants to actively encourage the right people to
undertake careers within the Bathroom Industry and therefore the career
paths section of the micro site contains valuable information about modern
apprenticeships, NVQ, lifelong learning, work based learning and university
foundation and degree courses.
The training micro website forms part of the BMA's ongoing commitment
to help the Bathroom Industry meet modern business demands and endorses
the BMA as not only the 'Voice for the Industry' but also the 'eyes and
ears'.
Tel: 01782 747123
Email: mailto:info@bathroom-association.org.uk
Clearshield
- The Clear Option on Aqata Shower Enclosures
The
difference is clear for customers of Aqata Shower Enclosures opting for
Ritec’s award-winning ClearShield™ protection system on their
shower glass.
Aqata
is established as one of the UK’s leading shower enclosure manufacturers
providing an extensive range of luxury products at affordable prices.
Aqata has been applying ClearShield™ Shower Glass Protect to its
bespoke shower doors and screens at its factory in Leicester with excellent
results.
ClearShield™, manufactured in the UK by Ritec International, features
a proven polymer formulation that bonds chemically to glass, leaving a
transparent, non-stick surface. Resisting build-up stains from limescale,
grease, dirt and body fats, this protection system also possesses hygienic
properties that hinder the adherence of bacteria. Glass treated with ClearShield™
is always much easier to clean without the need for harsh abrasive materials.
This saves time and effort and the glass remains visually attractive for
longer.
Available as an optional extra on Aqata shower enclosures, ClearShield™
is proving to be a popular choice amongst customers, and approximately
70% of all Aqata shower enclosures have this system applied to them. The
company has been so successful promoting the benefits of ClearShield™
on their shower screens that it has allocated a large area of floorspace
at its premises for its application.
With a particular focus on customer satisfaction, Aqata also offers a
simple AfterCare programme for ClearShield-treated shower enclosures to
keep them looking like new for longer. Customers simply register their
shower enclosure details with Ritec by post, phone or on the website to
activate the warranty. ClearShield™ is available on Aqata’s
Minimalist and Exclusive Solutions range of enclosures.
Jayne Barnes, Aqata’s Sales Director, explains, ‘Aqata was the
first shower enclosure manufacturer to launch ClearShield™ in the
UK. We were impressed with the benefits that ClearShield added to our
shower glass and it’s a perfect complement to our existing products.
‘Our customers are really pleased with ClearShield’s performance.
The easy cleaning and simple low maintenance AfterCare program are a real
advantage for today’s busy lifestyles,’ says Jayne.
With over 20 years of proven track records, the application of ClearShield
is versatile. It has been successfully applied to all kinds of glass,
such as architectural glazing, decorative glass, residential windows,
conservatories and marine glass in addition to shower enclosures.
Tel: 020 8344 8210
Web: http://www.ritec.co.uk
Rayburn
Meets 2005 Building Regs
Rayburn
says that its central heating range cookers are fully compliant with new
Building Regulations ADL1.
The Entire collection of Rayburn central heating range cookers are not
affected by amendments to the Building Regulations Part L which came into
force in April.
Aga-Rayburn and trade bodies including the society of British Gas Industries
(SBGI) and the Oil Firing Technical Association (OFTEC) have led the way
in liaison with the Government over improving the efficiency standard
of 75 per cent or above on range cookers has been agreed.
For new-build properties, a new website provides data to enable Standard
Assessment Procedure (SAP) assessors, such as architects and consultants,
to find the exact figure needed for their SAP calculations to ensure the
new-build meets the approved energy rating levels set down by the Government.
Rayburn is declaring the efficiency of its product range on this website.
For more information visit - http://www.rangeefficiency.org.uk
– which is fully endorsed by SBGI and OFTEC.
Architects
and Designers Demand Style when it Comes to DDA
Bathroom
brand Waterbury says that it works hard to ensure that the company has
a stylish range to suit every scenario and its Proteus range is testament
to this.
The
Proteus range has been designed to include all the essential items needed
to cover the recent Disability Discrimination Act (DDA) for bathrooms
and washroom facilities. Both functional and robust, Proteus' stylish
items ensure they add the finishing touch to a project rather than being
specified as an afterthought to ensure the DDA guidelines are met.
Says John Armstrong, Director of Waterbury: ‘New laws with regards
to disability need to be at the forefront of any refurbishment project,
which is why we have developed the Proteus range. Our emphasis is always
on quality and design and this has not been overlooked.’
The Proteus range incorporates folding rails that can be discreetly stored
when not in use. Waterbury also offers its customers a bespoke, made-to-measure
service to ensure that every detail and requirement can be taken into
consideration.
In an industry where high quality is essential, Waterbury makes sure that
all of its hand-assembled, British-made products are put through an extensive
programme of rigorous quality procedures. This ensures they meet the exacting
standards of architects and interior designers.
Tel: 0121 333 6062
Web: http://www.waterbury.co.uk
New
Jet System Technology Brings More Consumer Benefits
The
biggest news on the technology front for Zanussi-Electrolux is the major
development and enhancement of the ‘Unique and Patented Jet System'
which will now be available across the whole Zanussi-Electrolux washing
machine range.
Andy
Mackay, UK Brand and Marketing Director, Electrolux explains:
‘The technological improvements in Jet System bring major user benefits:
washing times are cut by up to 23%, wash performance and rinse results
have improved dramatically across all wash programmes, as the amount of
water passing through the clothes has been increased by 14% without increasing
water consumption. Last, and by no means least, clothes care gets a big
boost, as the improved water distribution and outstanding rinse results
mean clothes are subject to less friction which means less pilling and
bobbling.’
The Technology:
Zanussi-Electrolux has summed up the benefits of the new technology in
a consumer friendly caption, ‘Washes More Like a Powershower and
less like a Soak in the bath’ and this is the key message in the
current £1 million consumer advertising campaign promoting Jet System.
The two key areas of improvement are the spray action - the Jet area has
been redesigned - and the distribution of water in the drum. This has
been achieved by patented technology which minimises the amount of water
pooling at the bottom of the drum - resulting in an increase of water
in the laundry from 34% to 56.25%, achieved without using any more water.
* Speed Without Compromise: Better water distribution and more
even heating allows a better interface between the wash solution and the
dirty laundry - so better wash and rinse results in a shorter time. Zanussi-Electrolux
Progress and Timeline washing machines with the new Jet System still give
A wash performance, even with cycle time reduction of up to 45%
* Better Wash And Rinse Results: Increased power of the Jet drives
the wash solution through the clothes more thoroughly, cleaning and rinsing
more effectively.
* Energy And Water Savings: Jet System only takes the water required
for the load size, saving water and energy.
* Fabric Care: Jet Design wets the laundry even quicker, reducing
fabric friction, so helping to prevent pilling and bobbing. These improved
rinse results ensure that more detergent zeolites are removed from clean
clothes - which in turn keeps clothes looking newer for longer (zeolites
trapped in fibres cause friction which damages fabric).
Electrolux Major Appliances Trade Sales Line:
Freestanding: Tel: 08705 650 650
Built-In: Tel: 08705 822 886
DuPont
Announces Availability of PFOA Emissions Reduction Technologies
DuPont
announced on 6th May that it will provide critical technologies to reduce
emissions of PFOA royalty-free to others in the fluoropolymer industry,
which is used in the cookware industry.
PFOA is an essential processing aid used to produce fluoropolymer high-performance
materials. Fluoropolymers are used in architectural fabrics; chemical
processing piping and vessels; automotive fuel systems; telecommunications
and electronic wiring insulation; and computer chip processing equipment
and systems, as well as consumer products such as cookware and apparel.
The aerospace, transportation and electronics industries rely on these
products because of their purity, reliability and durability in critical
applications.
DuPont, in cooperation with The Fluoropolymer Manufacturers Group (FMG),
a part of the Society of the Plastics Industry (SPI), has committed to
reduce emissions from fluoropolymer manufacturing sites worldwide and
also will reduce APFO content in aqueous fluoropolymer dispersions used
for coatings applications. The FMG is made up of the U.S. fluoropolymer
producers, including DuPont, Dyneon (3M), Daikin America, and Asahi Glass
Chemicals Americas. This action will reduce the potential for emissions
at processors who use aqueous fluoropolymer dispersions by more than 90
percent. APFO is the form of PFOA used as a fluoropolymer processing aid.
'DuPont is offering our technology as a royalty-free cross license to
help ensure the success of the FMG commitment,' said David Boothe of DuPont
Fluoropolymer Solutions. 'Since all still need to use APFO to make fluoropolymers,
this programme is not designed to replace this essential processing aid.
DuPont will instead add a step to our process that removes nearly all
APFO from our aqueous dispersions to accomplish the goal. We expect to
announce availability of these next-generation aqueous dispersion products
soon.'
In addition to source reduction technology for APFO in dispersion, DuPont
also is offering royalty-free access to its patents and technology for
PFOA emissions abatement, water treatment and recovery for reuse.
DuPont is a science company. Founded in 1802, DuPont puts science to work
by creating sustainable solutions essential to a better, safer, healthier
life for people everywhere. Operating in more than 70 countries, DuPont
offers a wide range of innovative products and services for markets including
agriculture, nutrition, electronics, communications, safety and protection,
home and construction, transportation and apparel.
One of The Candy Tile Co's recently launched ranges of UK designed wall tiles - Satins, has won the prestigious Tile Association 'Wall Tile of the Year' award.
'The Satins range is a collection of monotones, that when combined with
the silver-highlighted Oriental strip, would create a dramatic, sophisticated
statement in any bathroom.' says the company. The Satins white field is
available in 198x248 and 248x331 formats, the Oriental strips in 248x80
and 198x50 and the Satins black field in 198x248. An eye-catching gloss
198x248 Lacquer Red tile has also recently been added to the range.
The award was presented at the 2005 TTA Awards Ceremony in April.
Apollo
Chemicals' Tacky Approach to Innovation Wins Award
Apollo
Chemicals Ltd, the adhesives company based in Tamworth, Staffordshire,
joined the elite recently when it scooped the prestigious ‘Queen's
Award for Innovation’ for its Fastack adhesive. A specialist supplier
to the furnishing industry, Apollo manufactures a range of adhesive products
used in the production of high performance foam bonding systems.
Fastack is a revolutionary two-part polyurethane adhesive that has a quick
tack - fast cure quality enabling customers to accelerate production time
and reduce costs.
The Queen's Awards are the UK's greatest business honour and Apollo is
one of less than fifty companies to receive such an accolade in 2005.
Managing Director Alan Jones said after the announcement ‘I am absolutely
delighted. This is testament to all the hard work that everyone at Apollo
has put into the development of Fastack - and indeed its forerunners -
which has led us to this point. To receive a Queen's Award is a great
honour.’
The award does not just recognise a new idea or concept. Any company seeking
the award must demonstrate the commercial success of the product along
with their credentials as a professional, well-run responsible business.
Apollo is one of the largest suppliers of polyurethane adhesives in the
UK - placing it amongst the largest independent players in the UK adhesive
market which is worth about £330M pa. Fastack is the latest instalment
of this success story.
Fastack affords the hard-pressed British manufacturer increased productivity
and efficiency and further investment from Apollo has ensured the continued
development of the system and application methods.
The company's products are utilised in a wide range of industries, from
construction to vehicle manufacture, packaging, foam and furniture.
Property
Ladder of Success for Venetian
Venetian
Bathrooms has received a surge of inquiries following a brief appearance
on popular Channel 4 series 'Property Ladder'.
'It was a fleeting glimpse of some Venetian branded point of sale in the
showroom, but that's all it took to get the phones ringing and an increase
in hits on the Venetian pages of our website,' said Megan Esmond, Brand
Manager for Venetian. 'Such is the power of TV, particularly with programmes
as popular as Property Ladder.'
Venetian‚s TV debut happened when one of the programme‚s featured
property owners, visited Walthamstow retailer Bathroom First, where she
selected Sargasso White fitted furniture with Neptune counter tops.
Venetian is part of The Symphony Group and is available to the public
through a network of independent retailers across the UK. Symphony is
an independent supplier of fitted furniture in the UK and has more than
30 years‚ experience producing fitted furniture for kitchens and
bedrooms as well as bathrooms. Further information on the Venetian Bathrooms
range is available through the Marketing Department on 0870 120 8000.
Groupe
SEB Finalises Lagostina Acquisition
Groupe
SEB confirms that it has signed the final agreement to acquire Lagostina,
the leading Italian producer of stainless-steel cookware. Negotiations
for the agreement were announced last 24th February.
Lagostina reported 2004 revenues of around €59 million, primarily
from sales through speciality retailers. Around one-third of revenues
came from export sales, mainly to France, the Benelux countries, Canada
and Taiwan, all countries in which the brand holds forefront market positions.
The acquisition, which will be financed by debt, will have only a limited
impact on Groupe SEB’s financial situation.
In commenting the acquisition, Thierry de La Tour d'Artaise, Groupe SEB
Chairman and Chief Executive Officer, noted that, 'After All-Clad, the
acquisition of Lagostina gives us another important strategic advantage
in premium cookware. It has enhanced our product line-up and strengthened
our position in certain selective distribution channels, mainly in Europe,
but also in other markets farther away.'
Closing is expected sometime this month.
Nobia's
2005 Annual General Meeting
The
Meeting established that the dividend for 2004 would be SEK 3.00 per share.
The record date for the right to receive the dividend is 2nd May 2005
and payment is expected via the Swedish Securities Register Centre (VPC)
on 6th May 2005.
Election of Board members
The following Board members were re-elected: Fredrik Cappelen, Stefan
Dahlbo, Bodil Eriksson, Hans Larsson, Wilhelm Laurén, Harald Mix,
Thomas Nilsson and Ingrid Osmundsen.
Election of Chairman
The Meeting elected Hans Larsson as Chairman of the Board.
Options scheme
The Meeting decided to introduce a performance-related staff options scheme
for around 100 leading decision-makers within the Group. The options entitle
the holder to acquire shares in the company during the period 31st May
2008 to 1st March 2009. The options may only be exercised fully if the
average annual increase in the earnings per share over the three years
from 2005 to 2007 is a minimum of 15 per cent. To secure the company's
commitment in accordance with the scheme, promissory notes have been issued
containing options for the new subscription of shares. Full utilisation
of the proposed options will dilute the share capital and voting rights
by around 1.0 per cent.
Nominations committee
The Meeting decided that by the end of the third quarter at the latest,
the Chairman of the Board shall call together the four largest shareholders
in the company who will appoint one member each, who should not be a Board
member, to the committee, The Chairman of the Board shall call the first
meeting of the nominations committee. A representative of the owners should
be chosen as chairman of the nominations committee. The composition of
the nominations committee shall be announced no later than the publication
date of the Q3 interim report. The purpose of the committee is to propose
to the Annual General Meeting the nominations for Chairman of the Board,
other Board members, auditors and deputy auditors (as necessary) and the
fees for Board members and the auditors. The committee shall also propose
to the AGM the principles to be observed for the appointment of the nominations
committee and for the appointment of a chairman for the AGM.
The presentation made by the President and CEO, Fredrik Cappelen, at the
AGM is available at http://www.nobia.se
Decisions
of the Snaige AB AGM
The
annual general meeting of Snaige AB shareholders held on April 27th, 2005
passed the following decisions:
1. To approve the Report of the board of Snaige AB on the operation of
the company in 2004.
2. To approve the audited financial statements for 2004, prepared in compliance
with the Lithuanian Business Accounting Standards and International Reporting
Standards, as well as the consolidated Annual Report for 2004.
3. To approve the 2004 profit appropriation:
The share of profit allocated to the reserve for the acquisition of own
shares - LTL 10.000.000;
the share of profit allocated to investment and other reserves - LTL 16.588.000;
the share of profit for the payment of dividends - LTL 1.384.224;
and the share of profit for the payment of annual bonuses - LTL 1.200.000.
To pay the dividends in the amount of LTL 0.06 per share in accordance
with the procedure prescribed by law at the pay office or according to
the request transfer the dividend to the personal account.
The shareholders who own the shares at the end of this day will be entitled
to dividends.
4. To adopt a decision to buy out own shares.
To buy out ordinary registered shares of Snaige AB worth LTL 1 by nominal
value (ISIN code LT 0000109274) by means of a voluntary tender offer in
accordance with the procedure prescribed by legal acts regulating securities
market and execute the said tender offer on the Vilnius Stock Exchange;
The purpose for the acquisition of the shares is to maintain and increase
the price of the company's shares;
To buy out up to 10 percent of the company's shares in the national securities
market for LTL 10 000 000 (ten million), i.e. this is the share of profit
allocated to the reserve for the acquisition of own shares;
The Company will buy shares till October 27th, 2006;
The maximum and minimum acquisition price: the minimum buying price of
the shares is LTL 14, the maximum buying price of the shares is LTL 22;
The minimum selling price of own shares is LTL 14 per share.
To ensure equal opportunities for all shareholders to buy the shares of
the company. The company's own shares bought by the company will be traded
only on the Vilnius Stock Exchange.
To authorise the Board of the company to establish and decide on the specific
conditions and terms of the voluntary tender offer, the volumes and prices
of the shares to be acquired, and the selling prices and conditions of
the shares.
All other issues, which are not provided for in this decision shall be
delegated to the Board of the Company.