A
new centre that gives the building trade, including merchants, direct
and year-round access to thousands of people undertaking self build
or renovation projects opened in Swindon last Friday.
The National Self Build and Renovation Centre will be a focal point
for those looking to build and renovate homes. By bringing together
all the products, services and advice required for self build or renovation
under one roof for the first time, the Centre will be a magnet for the
potential customer. The Centre is the brainchild of BuildStore, the
pioneering self build and renovation experts.
In
case you are wondering, TV refurbishment expert Tommy Walsh is very
tall, and the kitchens and bathrooms on show at the Buildstore are normal
size
Products
and services involved at every phase of the self-build or renovation
process will be on permanent display at the Centre all year round. This
gives trade specialists involved in every aspect of home building and
renovation easy and direct access to consumers. The Centre also provides
great networking opportunities for those in the building trade, giving
them a regular place to meet and discuss current issues and trends within
the industry.
Seminars and a product demonstration zone allow companies to showcase
their products and services in a unique environment, giving consumers
the opportunity to better understand how to use their products and see
how they work in action.
Raymond Connor, chief executive of BuildStore said: 'This is a fantastic
opportunity for the building trade to access a booming market. Thousands
of customers will be drawn to the Centre where they will find everything
they need to complete their project, making the Centre the ideal place
for the trade to exhibit the products and services needed at every stage
of the building process.'
With an estimated 20,000 people building their own new homes in Britain
each year, self builders are now the country's leading developer, outstripping
even the biggest commercial house builders and creating an estimated
£6.6bn worth of new homes.
Renovation projects are also on the rise with 42% of homeowners looking
to renovate or extend their properties. Last year alone over 300,000
applications for residential planning permission were submitted.
Among the 200 or so companies represented at Buildstore are:
• Ideal Standard (UK) Ltd
• Astracast Plc
• Saint Gobain Tiles
• Rangemaster
• Intatec Ltd
• William Ball
• Abode Home Products Ltd
• Acova Radiators (UK) Ltd
• Showerlux UK
• Aga-Rayburn
• Aqualisa Products Ltd
• Everhot Cookers
• Neff UK Ltd
• The Radiator Company
• Dimplex
• Polypipe Building Products
• Roca Limited
• Coram Showers Ltd
• Hansgrohe
• Heritage Bathrooms
• Miele Company
• Zip Heaters (UK) Ltd
• Kermi
The 67,000 sqft National Centre will help visitors through every step
of the self build or renovation journey, from finding a plot right through
to completing their project and moving into their dream home. Key features
will include:
• A 'trade village' with products from over 250 suppliers, including
merchants, a bar code system allowing visitors to easily order brochures
and further information
• A massive array of fixtures, finishes and material choices allowing
visitors to make informed choices for their home interiors.
• An Educational Zone allowing visitors to see for themselves how
a house is built - key features will include life sized exhibits such
as plant, groundworks, walls and roof structures
• Interactive demonstrations offering the opportunity to learn
key skills such as bricklaying, tiling and laying floors and landscaping.
• The Design Centre, featuring the UK's biggest range of designs
and house styles, including how to design a kitchen and bathroom.
• Renovation Zone showing how a wreck can be turned into a new
home
• A full-size Potton Show House
• Face-to-face advice from a specialist Finance Centre dedicated
to self build and renovation finance.
• Plotsearch Theatre, showing what to look out for when searching
for land and property via a specialist UK database giving access to
over 6,000 plots and
properties.
• Details of how to save thousands on building materials with BuildStore's
Trade Card.
The Centre will also include a 200 seat lecture theatre which will host
seminars, themed events on a wide range of topics from finding to designing
a home and decorating and a dedicated area for product demonstrations
such as installing guttering or laying different types of flooring.
The National Centre will be open all year round from 10am to 6pm. Admission
will cost £10 at weekends and £8 during the week if booked
advance on-line, or £2 extra if arriving at the door.
Those interested in displaying products and services at the Centre should
contact Debbie Buggins on 01506 409450.
http://www.buildstore.co.uk/mykindofhome/
Burlington
Graces Main Showpiece at Buildstore
Natural
slate roofing and natural stone flooring from the UK producer, Cumbria-based
Burlington, adorns both the exterior and interior of the Potton Show
House – one of the main showpieces at the recently opened National
Self Build and Renovation Centre in Swindon. Created by BuildStore and
standing as the UK’s first centre of its kind, the three bedroomed
timber frame Potton Show House featured within The Centre is not only
roofed in Burlington Blue/Grey natural slate, the company’s stone
floor tiles have been installed within the hall, dining kitchen and
utility room.
As a key trade and industry partner supporting The Centre, Burlington
has supplied some 12 tonnes of Blue/Grey natural slate roofing as 18”
sized product to create a uniform roofline appearance that was installed
by Stirling & Johnson. A widely specified roofing material across
both prestigious new build and renovation projects, Burlington’s
natural slate roofing – also available in Westmorland Green - is
a high quality building material that exhibits excellent aesthetic and
technical properties. Indeed it continues to adorn many prominent roofscapes
within the UK and overseas.
The three bedroomed timber frame Potton Show House
featured within The Centre is not only roofed in Burlington Blue/Grey
natural slate, the company’s stone floor tiles have been installed
within the hall, dining kitchen and utility room
Internally
within the Show House, visitors are greeted by a hallway that is finished
in Burlington’s 400mm X 400mm X 12mm honed, blue/grey Kirkby natural
stone and which is complemented by a border and thresholds finished
in Caulfield - one of the company’s recently launched natural limestones,
which has a rich tone that is accentuated with mottled markings.
For added continuity, Burlington’s blue/grey Kirkby stone - installed
by Bristol Marble - also features as the floor covering to the kitchen/dining
room and utility area. Here the natural stone flooring has been laid
in random lengths with fixed widths of 200, 300 and 400mm.
Commenting on Burlington’s involvement with the project, founder
and chief executive, Raymond Connor said: 'The Centre has attracted
the interests of many leading suppliers to the self build and renovation
market, and we are obviously delighted to have Burlington, the UK’s
leading natural stone producer, supporting this initiative in such a
prominent way. Their products look excellent both on the roof of the
Potton Show House and within its interior, and as such we feel confident
that their products will definitely be one of the talking points amongst
those who visit The Centre.'
On behalf of Burlington, Joint Managing Director, Malcolm Hatch added:
'We are extremely excited to be supporting The National Self Build and
Renovation Centre by featuring our products both on and within one of
the main showpieces, particularly given the fact that the Potton Show
House is a stunning example of what can be achieved by self building.'
Web: http://www.burlingtonstone.co.uk
Masco
Expects Bad First Quarter, and Uncertain 2007
In
its full year and Q4 financial statement, Masco reported rationalisation
of its Plumbing Products segment. The Company originally estimated that
costs and charges for profit improvement programs related to its Plumbing
Products segment would approximate $70m compared with the actual charges
of $39 million. The reduced amount reflects the fourth quarter sale
of a manufacturing facility in the Plumbing Products segment which was
originally planned for closure.
Full-Year 2006
* Net sales from continuing operations for 2006 increased two percent
to $12.8 billion compared with $12.6 billion for 2005. North American
sales increased one percent and International sales increased five percent.
In local currencies, International sales increased four percent.
* For the full-year 2006, key retailer sales from continuing operations
were flat compared with 2005.
* Sales changes by segment for 2006 versus 2005 were:
* Cabinets and Related Products sales declined one percent;
* Plumbing Products sales increased four percent;
* Installation and Other Services sales increased three percent;
* Decorative Architectural Products sales increased six percent; and
* Other Specialty Products sales declined five percent
Fourth
Quarter 2006
Net sales from continuing operations for the quarter declined six percent
to $2.9 billion, with North American sales declining 10 percent and
International sales increasing 17 percent. In local currencies, International
sales increased seven percent compared with the fourth quarter of 2005.
Sales of cabinets, windows and doors and the installation of insulation
were particularly weak when compared with the fourth quarter of 2005,
primarily due to the accelerating decline in the new home construction
market in the last six months of 2006. Sales of major faucet brands
combined and architectural coatings increased in the low-single and
mid-single digits, respectively.
Key retailer sales from continuing operations declined seven percent
in the 2006 fourth quarter, were flat in the third quarter, and increased
one percent and seven percent in the second and first quarters of 2006,
respectively. The Company believes that retail sales in the last six
months of 2006 were negatively impacted by a moderation in consumer
spending for certain ‘big ticket’ home improvement items,
such as cabinets.
* Sales changes by segment in the 2006 fourth quarter versus the 2005
fourth quarter were:
* Cabinets and Related Products sales declined 12 percent;
* Plumbing Products sales increased three percent;
* Installation and Other Services sales declined nine percent;
* Decorative Architectural Products sales increased four percent; and
* Other Speciality Products sales declined 14 percent.
2007 Outlook
New home construction has declined dramatically in the last 12 months
due to previous excessive speculative buying, rapidly rising home prices
in recent years reducing affordability and less attractive mortgage
terms. Even with the recent decline in single-family housing starts,
the inventory of unsold new homes has increased to unprecedented levels.
The uncertainty that home builders may cut production even further to
reduce this inventory, and given the large percentage of Masco sales
that go to the new home construction market, combined with the unpredictability
of commodity costs, makes it very difficult for the Company to provide
earnings per common share guidance for 2007.
Also negatively impacting the Company's earnings outlook for 2007 are
plant and system implementation start-up costs, costs and charges related
to additional profit improvement programs, including severance costs
from headcount reductions, higher interest expense, a moderation at
retail of the sale of certain "big ticket" home improvement
items, such as cabinets, and as yet unrecovered commodity cost increases.
Housing starts declined by approximately 13 percent in 2006 compared
with 2005 to 1.8 million units. Late in 2006, the housing starts run
rate was between approximately 1.5 to 1.6 million units, which is more
than 20 percent below the 2005 levels. If housing starts improve from
these levels, commodity costs moderate, and home improvement retail
sales improve, then the Company's earnings per common share could be
$1.80 or even higher for 2007. On the other hand, if housing starts
decline even further than current depressed levels, as some observers
predict, and commodity costs escalate, the Company's earnings per common
share for 2007 could decline to $1.50 or less.
With housing starts currently running nearly 20 percent below year ago
levels, the Company currently expects first quarter 2007 sales to decline
low double digits from last year's strong quarter and full-year sales
to decline mid single digits.
The Company expects the low point in its earnings for the year to be
in the first quarter, seasonally its lowest quarter, when earnings may
decline 50 percent or more from last year's first quarter earnings of
$.50 per common share when housing starts were strong
Electrolux Year-End 2006 Report
'Our
strategy is working', says Electrolux CEO and President Hans Stråberg.
'The Electrolux strategy of developing new, innovative products, building
a strong brand and creating a competitive cost foundation is beginning
to yield results.'
The year 2006 is the year Husqvarna was separated from Electrolux and
we focused our business on indoor products for consumers and professional
users. Electrolux sales last year reached SEK 104 billion, the highest
sales turnover ever. At the same time, operating income for the fourth
quarter reached a record level. In 2006, we decreased the gap to our
competitors and we have come closer to our first profitability target
- margins on a par with the industry average.
All business areas in Electrolux increased their results compared with
the previous year and new, exciting products made a crucial contribution.
Europe, which went through a difficult time at the beginning of the
year due to the strike in Nuremberg, Germany, improved its operating
margin from 5.9% to 6.1%. In spite of an economic flattening in the
end of the year and increasing costs for raw materials, North America
achieved a somewhat better result than in 2005, and in Latin America,
Electrolux reached an operating margin of 4.4%, the highest in 10 years.
In addition, Electrolux Professional products reported its best quarter
in 5 years, and floor care operations demonstrated that they are nearly
back to the profitability levels they had before the dramatic decrease
of 2003.
In 2006, we implemented a number of direct value-creating measures for
our shareholders. In addition to the distribution of Husqvarna shares,
we also distributed capital to our shareholders via ordinary dividends,
buy-back of shares and an extra distribution of capital. In total, we
distributed capital to our shareholders equivalent to 46% of our equity.
After all of these measures, Electrolux will still have the flexibility
to implement its strategy with investments in developing innovative
products, brand building, structural measures and growth through possible
acquisitions.
I am also happy that Electrolux has been given the prestigious Sustainability
Energy Award by the EU Commission in honour of our work to decrease
energy consumption in our products, our production facilities and our
service. I am convinced that our development of energy efficient products
will be an increasingly important competitive advantage.
Thanks to a strong effort by all of our employees around the world,
we have succeeded in meeting the high expectations that are being placed
on our organisation. Indications are that 2007 will develop as 2006,
that is, with a weak seasonal introduction and with a strong conclusion.
We will continue to deliver on our strategy in 2007 and we expect the
results to be somewhat higher than 2006.
Hans Stråberg
President and CEO
Aqualux
has proved a little extra goes long way as sales of its recently launched
Aqualux Xtra range have already exceeded sales targets.
The
UK manufacturer of bath screens and shower enclosures launched its Xtra
range at the beginning of January and the collection has proved exceptionally
popular with the new build and refurbishment markets.
Aqualux Xtra is an extension of the company's popular Elite Classic
and Aquarius ranges and provides specifies and installers with a range
of enclosures that have been designed with additional extras to make
installation quick and easy. Clever features such as adjustable profiles
allow for up to 54mm of adjustment for increased flexibility.
Commenting on the success of the Aqualux Xtra range, Mike Jones, sales
and marketing director said: ‘We designed the new range specifically
with installers and specifiers in mind and our sales have proved that
the Xtra range has filled a gap in the market.’
The Aqualux Xtra range is divided into two collections - Elite Xtra
and Aquarius Xtra. The Elite Xtra range includes a frameless pivot door,
framed pivot door, Bi-fold door, sliding door, corner entry and a side
panel. In the Aquarius Xtra range the pivot door, bi-fold door and side
panel is available.
All the enclosures are available in a polished silver effect or white
and Elite Xtra comes with added-value extras such as integral towel
rail and stylish easy grip handle on the frameless pivot door. The Aquarius
Xtra benefits from increased glass thickness and all enclosures in the
Aqualux Xtra range have reversible doors for left or right hand fit.
To mark the launch of the new range, Aqualux is giving 75% off all Xtra
display doors and a free fleece with any enclosure purchased from the
Elite Xtra collection and a free beanie hat and flask with any enclosure
for the Aquarius Xtra range.
Tel: 0870 241 6131
Email: enquiries@aqualux.co.uk
Web: http://www.aqualux.co.uk
Premium
Appliance Brands Shortlisted for Product Manufacturer of the Year
Premium
Appliance Brands was yesterday unveiled as one of four finalists in
the Product Manufacturer of the Year category at the Fast Growth Business
Awards 2007.
This
is the latest in a line of accolades for the Warrington-based company,
having recently been named in the Sunday Times Fast Track 100 as one
the 100 fastest growing private UK companies, and also shortlisted for
Young Business of the Year at the Growing Business Awards last November.
Guy Weaver, Managing Director of Premium Appliance Brands, comments,
'2007 is set to be a fantastic year for us and we hope that this is
just the beginning. In the past three months our growth and success
has been recognised amongst our trade audience, but also within the
wider business field, where we are competing amongst some of the UK’s
most reputable and respected companies. Our goal this year is to keep
expanding and improving, with the aim of becoming one of the UK’s
leading appliance suppliers.'
The short-listing judges were overwhelmed by the quality and quantity
of entries. Ian Wallis, editor of Growing Business magazine and Growingbusiness.co.uk
comments, 'With almost 350 entries across 14 categories, the competition
was fierce. The four finalists for Product Manufacturer of the Year
demonstrated great plans for future development as well as a substantial
year on year turnover and profit, growing market share and a strong
brand.'
Winners of the awards will be announced at a prestigious black tie awards
ceremony at the London Marriott on 29th March 2007.
Web: http://www.pabl.co.uk
Planit
Fusion System Includes Bosch Appliance Catalogue
Planit
International has extended the capabilities of its Fusion design and
visualisation system to provide instant access to Bosch's household
appliance catalogues, from a single source.
To assist customers with their purchasing decisions - everything from
built-in Bosch cooker hoods, hobs, combi ovens and dishwashers, to refrigeration
units, coffee makers and washer dryers - are now available as photo-realistic,
3D CAD images that can be incorporated into kitchen designs.
With an acknowledged reputation for quality and durability, the availability
of Bosch's appliance catalogue alongside its existing kitchen products
on the Fusion system, provides users with a much greater opportunity
to enhance design capabilities and sales potential.
‘The addition of the appliance catalogue builds on the strong relationship
we have already built up with the BSH Group,’ says managing director
Alastair McPheat. ‘We work closely with leading brands such as
Bosch to include authentic images of their product ranges within the
Fusion system.’
Regular updates of the Bosch data file can be downloaded by Fusion users
directly from the Planit website using 'live' online technology. Planit's
database holds detailed measurements, codes and pricing structures from
hundreds of product catalogues, providing the reassurance that designs
are based on accurate information supplied by manufacturers.
‘Introducing Bosch appliances as realistic photographic images
into a kitchen layout allows complete visualisation of a finished room,’
says Ken Humphrey, brand manager at Bosch. ‘We see this as a major
benefit for customers and feel confident that more of them will specify
our appliances at the design stage in order to achieve a fully coordinated
look.’
Planit's Total Support package includes a full range of training courses
and a team of customer specialists who work closely with users to help
them derive maximum benefit from their investment.
About Planit International
Based at Ashford in Kent, Planit International is a developer of advanced
design and visualisation software for the kitchen, bedroom, bathroom
and home improvement markets. The company is a principal member of the
Planit Group and is the sector's only certified Microsoft Partner.
Tel: +44 (0)1233 649700
Web: http://www.planitsoftware.com
Symphony
Scoops National Group Supplier of the Year Award from David Wilson Homes
Symphony has scooped top honours at the David Wilson Homes Construction
Supplier Awards, being named National Group Supplier of the Year 2006.
The
award was presented to Symphony’s Sales Director, Paul Kettlewell,
by Greg Locke, Chief Executive of David Wilson Homes, at the Hilton
Birmingham Metropole Hotel on Friday 26 January in recognition of Symphony’s
outstanding performance as a supplier to David Wilson Homes, a subsidiary
of Wilson Bowden Plc.
Regional representatives from the David Wilson Homes team were invited
to nominate the supplier in their area who they felt consistently delivered
the highest standards of quality and service.
Greg Locke, Chief Executive of David Wilson Homes, explained: 'Last
year Symphony’s performance was exceptional from quotation right
through to delivery. A high quality product range, an efficient management
information system and stringent delivery procedures, helped to put
Symphony head and shoulders above the competition this year.
'Not only does Symphony strive to satisfy our needs as the customer
but it also values the importance of the homeowner and aims to resolve
any issues that the homeowner has without hesitation.'
Paul Kettlewell added: 'We are delighted to have received this recognition
from David Wilson Homes. It is encouraging to have such positive feedback
from one of the UK’s leading housing developers and is a great
achievement for the whole team from our regional business managers to
in-house designers, warehouse staff to delivery drivers.'
Symphony supplies high quality kitchens to David Wilson Homes for a
wide portfolio of housing developments from inner city apartments to
townhouses and new build communities.
David Wilson Homes is recognised as one of the country's leading house
builders, operating in 12 regions plus retirement homes from Scotland
to Wales and down to the South East of England.
Further information is available through Symphony’s Marketing Department
on 0870 120 8000 or visit www.symphony-group.co.uk.
National
Sales Manager Appointed at Althea
Italian
bathroom products supplier, Althea UK Ltd, has announced the appointment
of Barbara Holmes to the position of National Sales Manager.
Barbara will be based at the company's new office, showroom and bathroom
furniture manufacturing premises in Dewsbury, West Yorkshire and will
be responsible for spearheading Althea's nationwide sales strategy.
Barbara joins Althea from Westbridge Homes, where she was Sales &
Marketing Manager. She brings many years experience to her new role,
having also worked in senior management positions for a number of the
north's premier construction companies since 1997.
Althea UK Ltd specialises in sourcing and distributing the best in Italian
bathroom design to a constantly growing customer base, including new
home builders and developers, hotels, restaurants, hospitals and the
prison service.
Barbara lives in Harrogate and when not promoting Italian bathrooms
enjoys socialising and visiting the town's wide choice of bistros and
restaurants.
Tel:
01924 43952
Email: barbara@altheauk.com
Lance
Gillett is Bristan Group's new Finance Director
With
financial experience earned via a wide range of companies from around
the globe - including Rhodia, Royal Worcester, Seiko and US GAAP - the
Bristan Group says that its newest recruit is perfectly poised to ensure
its secure future moving forwards.
Acting as part of the Bristan Executive team, which has recently completed
the successful centralisation of a number of brands under The Bristan
Group umbrella, Lance Gillett is responsible for securing the profitable
position of this £140m per annum turnover business.
‘The Bristan Group is filled with an impressive number of thoroughly
energised and motivated teams that have placed us in a really strong
profitable position. Looking behind figures and processes is something
that I have been very used to in previous roles, and I hope to help
maximise our position in the market and become part of the continued
success of the group,’ comments Lance.
For more information/stockists call Bristan on 0870 4425555.
Web: http://www.bristan.com
As
part of its ongoing commitment to training and development, kitchen
and bathroom distributor, the PJH Group, has kicked off 2007 with a
national sales conference for its retail and builder sales team divisions.
Held
at Wroxall Abbey Hotel in Warwickshire, PJH Group invited its full team
of regional and national sales development managers to an intensive
two-day training course, themed around ‘Making A Difference’.
Combining sales training with practical group exercises, the conference
was not just an update on PJH Group's latest initiatives, but an enjoyable
opportunity for the expanding sales team to meet up with colleagues
and get to know new faces.
Led by the management team, including presentations from the CEO, directors
and product managers, the programme's aims were to focus the team for
the year ahead, introduce new bathroom, kitchen and appliance product
ranges, and highlight the latest company goals intended on ‘Making
A Difference’ to PJH customer success. In addition one of PJH's
key appliance suppliers, Electrolux, attended the conference to host
specialist product training and an advance preview of a new global design
product range.
Sales director, Steve Johnstone said, ‘In such a dynamic industry
it's important for us to have regular training and communication with
all our people, ensuring everyone is kept updated with the latest industry
and company activity. Regular customer service and product training
updates are obviously key to ensuring we deliver the highest standards
of service to all our customers.
‘Feedback on the conference has been positive - both enjoyable
and informative - and we also had an invaluable opportunity to receive
feedback from our sales managers on their side of the business.’
For further information on the PJH Group visit http://www.pjhgroup.com
or telephone: 01204 707070.
Fantastic
Opening Event at In-toto
Kitchen
specialist In-toto kitchens recently opened a new showroom in Portsmouth,
with a two-day opening event.
The
Lord Mayor and Lady Mayoress of Portsmouth, Councillor Fred Charlton
and Mrs Margaret Charlton officially opened the showroom, which is situated
at 30 Landport Terrace, Southsea.
There was also a cooking demonstration carried out by A.E.G during the
opening, which attracted a lot of attention and was of particular interest
to potential customers.
The new showroom has been fitted with seven new displays that illustrate
the quality, craftsmanship and style of In-toto kitchens and the new
designer range of Geba kitchens is also now on display. This exclusive
range is ultra modern and offers dramatic new ideas for luxurious kitchens.
In-toto produces high quality kitchens of both contemporary and traditional
styles. Portsmouth is one of a nationwide network of almost fifty In-toto
showrooms.
To find your nearest In-toto retailer or to order a brochure please
call 08700 433 737 or visit http://www.intoto.co.uk.
New
Year Appointments at Rearo Laminates
Rearo
Laminates Limited has announced a number of new appointments designed
to boost the expansion of its operations throughout the UK.
Scotland's
leading laminate manufacturer, Rearo last year opened a new 37,000 sq
ft production facility at Govan, Glasgow, to cope with increased demand
for its products.
The company currently has distribution centres in Lerwick, Shetland,
Dunfermline in Fife, Washington in Tyne and Wear and at Caldicot in
Monmouthshire.
Bruce Venter has been named as the company's new operations manager
based in Glasgow. He recently sold his share in a security CCTV company
to join Rearo.
Laurence Wells joins as the new South West branch manager based a Caldicot.
He formerly held a senior management position with a major stationery
company.
Spearheading a new sales operation based in Manchester will be Martyn
Randall, the former managing director of UK laminate distributer L S
Randall. Irene Campbell has also joined as marketing assistant in the
Glasgow office.
Rearo's managing director, Graham Mercer, said: ‘These significant
new appointments show our firm intention to continue to expand and become
market leaders in every sector in which we operate.’
Web: http://www.rearo.co.uk
Wolseley
plc - Acquisitions Update
Wolseley
plc, the world's largest specialist trade distributor of plumbing and
heating products to professional contractors and a leading supplier
of building materials, announced on February 13th four further bolt
on acquisitions for an aggregate consideration of £13 million.
In a full year, these bolt on acquisitions are expected to add approximately
£29 million to total revenue.
Since the beginning of the financial year on 1 August 2006, a total
of 33 bolt on acquisitions in Europe and North America have been completed
for an aggregate consideration of approximately £342 million.
These 33 acquisitions are expected to add approximately £590 million
to Group revenue in a full year. Goodwill and intangible assets related
to these acquisitions is estimated to be around £225 million.
In addition, on 25th September 2006, Wolseley plc completed the acquisition
of DT Group (formerly known as Danske Traelast) for an estimated consideration
of £1,353 million, which brings aggregate acquisition spend for
the year to £1,695 million.
North America
On 5th February 2007, Ferguson acquired the assets of Grif-Fab Corporation
('Grif-Fab') from members of the McVey family. Grif-Fab is a distributor
and fabricator of fire protection systems with three locations in Colorado,
Arizona and New Mexico. In the year ended 30 November 2006, Grif-Fab
had revenue of $28.3 million (£14.5 million) and gross assets
of $6.9 million (£3.6 million) at that date.
Europe
On 15th January 2007, DT Group acquired the outstanding 60% of Superbyg
Kalaallit Nunaat A/S ('SKN'), which it did not previously own, from
Pisiffik A/S. SKN is a builders' merchant with locations in five cities
in Greenland. In the year ended 30th June 2006, SKN had total revenue
of DKK106.2 million (£9.4 million) and gross assets of DKK60.1
million (£5.3 million) at that date.
On 1st February 2007, DT Group acquired the assets of Jarn och Tra Orust
AB ('JTO') from Animonhus AB. JTO is a Swedish builders' merchant based
in Orust, the second largest island in the west coast archipelago. In
the year ended 31st December 2005, JTO had revenue of SEK40.2 million
(£2.9 million) and gross assets of SEK8.8 million (£0.6
million) at that date.
On 1st February 2007, Wolseley France acquired SA Escaffre & Fils
and Eurl Espace Carrelages ('Escaffre') from Escaffre Developpment.
Escaffre is a generalist builders' merchant and ceramic tiles specialist
based in Albi, south of France. In the year ended 31st December 2005,
Escaffre had revenue of Euro9.1 million (£6.0 million) and gross
assets of Euro3.5 million (£2.3 million) at that date.
Chip Hornsby, Group Chief Executive of Wolseley said:
'Our aim is to continue to grow the business through organic means and
from good
quality acquisitions. These four deals support that aim.'
Winners
of the 2006/07 NKBA Student Design Competition
The
National Kitchen & Bath Association (NKBA) has announced the winners
of the 2006/2007 NKBA Student Design Competition.
The NKBA would like to thank the sponsors of the 2006/2007 NKBA Student
Design Competition, American Woodmark Corp. and Sub-Zero Freezer Company/Wolf
Appliance Company for their continued support and generosity. Winners
will be officially recognised at a special awards ceremony to be held
in May at the Kitchen/Bath Industry Show & Conference (K/BIS) in
Las Vegas, Nevada.
Open only to NKBA Student Members, this annual competition challenges
young designers to create functional, efficient and attractive spaces
that meet the requirements presented. The NKBA received 150 kitchen
entries and 124 bathroom entries, more than double the number of bathroom
entries received last year.
In the kitchen category, three place winners and two honourable mentions
were awarded:
1st Place: Suchin Coutre, College of Dupage, Glen Ellyn, Ill.
2nd Place: Michelle Wilcher, University of Georgia, Athens, Ga.
3rd Place: Allison Marie Bradshaw, Lakeland College, Vermilion, Alberta
Honourable Mention: Alan Gilmer, University of Georgia, Athens, Ga.
Honourable Mention: Antonina Kennedy, Seminole Community College, Sanford,
Fla.
In the bathroom category, three place winners and two honourable
mentions were awarded:
1st Place: J. Robert Call, Weber State University, Ogden, Utah
2nd Place: Kara Lynn Eastham, Weber State University, Ogden, Utah
3rd Place: Allison Marie Bradshaw, Lakeland College, Vermilion, Alberta
Honourable Mention: Coleby Joyner, University of Georgia, Athens, Ga.
Honourable Mention: Brittany Gardner, East Carolina University, Greenville,
N.C.
For more information, please contact Sherylin Doyle, AKBD, Manager of
Academic Relations at the NKBA at 908-813-3793 or sdoyle@nkba.org
Web: http://www.nkba.org
Court
Hearing Sanctions Scheme of Arrangement 15th Feb-2007
The
Steinhoff Board has announced that the Court sanctioned the Scheme to
implement the recommended acquisition by Steinhoff International Holdings
Limited and Steinhoff Europe AG (together, 'Steinhoff') of the minority
shareholdings in Homestyle, at the Court Hearing held on 15th February.
The Court also confirmed the associated reduction of Homestyle's share
capital. It is expected that the Scheme will become effective on 19th
February 2007 following the delivery of an office copy of the Court
Order and minute to the Registrar of Companies and (in relation to the
capital reduction) the registration by her of such Court Order and minute.
All other conditions of the Scheme have been satisfied, save for the
admission of the New Steinhoff Shares to trading on the JSE. It is expected
that such admission will become effective on 19th February 2007.
In accordance with the terms of the Scheme, the Scheme Shares will be
reclassified into A Shares or B Shares. Each A Share will confer upon
the holder the right to receive 100p in cash and each B Share will confer
upon the holder the right to receive New Steinhoff Shares in accordance
with the Ratio set out in the Scheme Document, the result of which is
set out below. Currently in issue are 101,409,623 Scheme Shares, which
will be reclassified as 3,000,939 A Shares and 98,408,684 B Shares.
Based on the £/R exchange rate as at 11.00am on 15th February
of £1:R 14.0443 (being on the nearest hour following conclusion
of the Court Hearing), and applying the Ratio set out in the Scheme
Circular, the number of New Steinhoff Shares to be issued to each holder
of Scheme Shares who has elected for the Share Election will be 0.749
New Steinhoff Shares for each Scheme Share.
Following the Scheme becoming effective as described above, the Homestyle
Shares will be delisted. This is anticipated to be with effect from
8.00 a.m. on 20th February 2007.
Terms defined in the Scheme Circular issued on 22th December 2006 have
the same meanings when used in this announcement.
Perfect
Pancakes with Whirlpool
Millions
of homes across the country will be heating up their frying pans and
keeping the lemon and sugar at hand to enjoy Shrove Tuesday on 20th
February. Follow the tips from Whirlpool below to indulge in a great
British tradition and create perfect pancakes:
Chill and set your batter – It’s important to let your
batter 'rest' for 30 minutes, enabling the starches in the mixture to
soften and expand in the liquid, forming a lighter pancake. The batter
will be best, and most hygienically, rested in a Microban antibacterial
filtered fridge such as Whirlpool’s ARC 6706; and getting the mixture
below room temperature will help create a perfectly sealed pancake in
the hot pan.
Perfect pan temperature – Use the precise technology of
an induction hob with touch control, for example the AKM995, to get
your pan piping hot, then tip the batter around the pan to get the base
evenly coated. It should only take half a minute or so to cook, so lift
the edge with a palette knife to check it’s a tempting golden colour.
Save leftovers – If you can’t face another pancake
but you’ve got leftover batter, make up pancakes with the remains
and save them for another day. Stack the cooked pancakes between greaseproof
paper, place in an air-tight container and store in the fridge of your
Whirlpool ARC7550 fridge freezer for up to three days, or freeze for
up to two months.
Web: http://www.whirlpool.co.uk