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Masco Cabinetry history
Masco Cabinetry company history timeline
In January 2000 Masco acquired Danish firm Tvilium-Scanbirk, a leading manufacturer of ready-to-assemble shelving, cabinetry, and other furniture products in Europe, and a major supplier for Staples.
While Masco's profits for 2000 may not have topped the $700 million mark, as it forged ahead into the new century the company could still boast a significant share of the home furnishings market.
2000: Masco sells remaining interest in MascoTech to Heartland Industrial.
While many businesses saw earnings drop as the United States economy slumped in 2001 and 2002, KraftMaid's sales surged upward as people began investing in their homes, spurred on by record-low mortgage interest rates. Its just-in-time manufacturing was so finely tuned that KraftMaid closed the last of eight warehouses it had been using to store raw materials in December 2001.
Over the next several years, the company continued to expand its cabinet options, and by 2001 it offered more than 100 cabinet door styles in seven woods and a number of different laminates.
In the fall of 2001, the company hired 100 new workers, then added 300 more early the following year.
In early 2003, KraftMaid assigned its advertising account to a new agency, W.B. Doner of Detroit.
Following the sudden passing of Ray Kennedy in 2003, Alan Barry becomes Masco’s fourth President.
2004: A $25 million expansion program adds 150,000 square feet to the firm's three plants.
In February 2005, the company announced plans to build its first plant outside of Ohio.
2005: Construction of new plant in Utah begins.
The 700,000-square-foot plant was expected to cost $106 million and would employ 1,300 after it opened in mid-2006.
By 2006, Masco has been reporting a 15 percent compound growth rate in sales, through acquisitions and internal growth, for 50 consecutive years.
Following the retirement of Richard Manoogian and Alan Barry in 2007, Timothy Wadhams becomes Masco’s fifth President.
Masco reaches this milestone in 2009, one of few companies on the NYSE to achieve this.
Innovation continues to be the hallmark of Masco’s success, with 30% of Masco’s 2012 sales attributed to new product innovations introduced in the last three years.
To potentially drive greater shareholder value, in 2019 Masco makes a strategic decision to exit the cabinet and windows businesses.
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Masco Cabinetry competitors
| Company name | Founded date | Revenue | Employee size | Job openings |
|---|---|---|---|---|
| Metropolitan Cabinets | 1984 | $27.7M | 100 | 26 |
| Wellborn Cabinet | 1961 | $320.0M | 1,207 | 1 |
| Serta Simmons Bedding | 1870 | $1.8B | 5,000 | 47 |
| Standard Textile | 1940 | $900.0M | 3,500 | 13 |
| Indiana Furniture | 1905 | $23.0M | 200 | - |
| A.L.P. | 1972 | $240.0M | 750 | - |
| NK Parts Industries | 1953 | $85.0M | 750 | - |
| American Woodmark | 1980 | $1.6B | 10,500 | 65 |
| Uniek | 1988 | $149.0M | 750 | - |
| The Bountiful Company | 1971 | $3.0B | 13,100 | 7 |
Masco Cabinetry history FAQs
Zippia gives an in-depth look into the details of Masco Cabinetry, including salaries, political affiliations, employee data, and more, in order to inform job seekers about Masco Cabinetry. The employee data is based on information from people who have self-reported their past or current employments at Masco Cabinetry. The data on this page is also based on data sources collected from public and open data sources on the Internet and other locations, as well as proprietary data we licensed from other companies. Sources of data may include, but are not limited to, the BLS, company filings, estimates based on those filings, H1B filings, and other public and private datasets. While we have made attempts to ensure that the information displayed are correct, Zippia is not responsible for any errors or omissions or for the results obtained from the use of this information. None of the information on this page has been provided or approved by Masco Cabinetry. The data presented on this page does not represent the view of Masco Cabinetry and its employees or that of Zippia.
Masco Cabinetry may also be known as or be related to Masco Cabinetry and Masco Cabinetry LLC.