Content about Masco

Home products manufacturer Masco Corp. reported net sales of $2.0 billion for its second fiscal quarter, flat compared with $1.99 billion in the same quarter the year before. North American sales increased 3% and international sales decreased 9%, the company reported. In local currencies, international sales were flat compared with the second quarter of 2011.

Net loss for the company for the second quarter, which ended June 30, was $75 million, compared with $8 million in profit during the second quarter of 2011.

Home products manufacturer Masco Corp. has promoted Jai Shah as its new VP human resources, replacing the retiring Charles Greenwood, according to a June 12 filing with the Securities and Exchange Commission (SEC).

Shah, 46, joined Masco in 2003 and most recently served as the company’s VP finance, retail/wholesale platform.

Greenwood will continue with Masco until 2013 to help ensure a smooth transition, the announcement said.

Something is wrong on Wall Street.

The whole financial community is aflutter over Facebook shares, which stumbled out of the blocks as a publicly traded company last month.

But that’s not the problem. The problem is that the company’s market capitalization is completely out of whack with acceptable notions of corporate significance and meaningful contributions to society. The value of Facebook shares multiplied by the number of those shares is — at last tally — an amazing $87.33 billion.

Masco Corp. has reported net sales of $1.87 billion for its first fiscal quarter, an increase of 7% over sales of $1.75 billion in the first quarter of 2011.

North American sales increased 9% and international sales increased 1%. In local currencies, international sales increased 5% compared with the first quarter of 2011.

Net income for the quarter, which ended March 31, was $33 million, compared with a net loss of $46 million a year ago.

Masco Corp. reported net sales of $7.46 billion for fiscal 2011, relatively flat compared with sales of $7.48 billion in 2010. North American sales decreased 3% and international sales increased 8% compared with 2010, the company said. In local currencies, international sales increased 3% compared with 2010.

The Taylor, Mich., corporation posted a net loss of $575 million for its 2011 fiscal year, compared with $1.04 billion during fiscal 2010.

BrassCraft Manufacturing, a division of Masco, has promoted George Werner to the position of VP retail sales. In this position, Werner will direct retail sales strategies and initiatives in support of BrassCraft Manufacturing's business goals and sales targets. In addition to all retail sales, with the exception of The Home Depot, Werner's responsibilities include the retail and wholesale segments of business for BrassCraft service parts and Cobra products.

Masco Corp. has announced the promotion of Keith Allman to group president, responsible for Brasstech, Delta Faucet Co., Hansgrohe, Liberty Hardware, Masco Bath, Masco Canada and Mirolin Industries Corp. Most recently, Allman had been president of Delta Faucet Co., a position he took over in 2007. 

Donald DeMarie Jr., executive VP and chief operating officer of Masco, has left the company “to pursue other opportunities,” according to a Nov. 10 filing with the Securities and Exchange Commission (SEC). DeMarie’s departure was effective Nov. 4.

Masco and DeMarie are working together to ensure a smooth transition, according to the SEC filing.

KraftMaid, the industry’s largest cabinet manufacturer, has laid off 175 hourly workers at factories in Orwell and Middlefield, Ohio, according to an article in the Warren Tribune Chronicle.

A spokeswoman for parent company Masco told the newspaper that, "Prolonged economic conditions have severely impacted the housing market, whether new construction or remodeling. The current climate remains challenging."

Masco Bath, a producer of showers, bathtubs and whirlpools, was given the  “Unsung Hero” award at the Lowe's Fashion Plumbing vendor forum. Masco was honored for the research, design and execution of new merchandising concepts for the bathing aisle and accessible home special order areas. These merchandising concepts have been included in the Lowe's "store of the future" layout, according to the announcement.

Masco Corp. announced that its board of directors declared a quarterly dividend of $.075 per common share, payable on Nov. 7, 2011, to shareholders of record on Oct. 7, 2011.

Headquartered in Taylor, Michigan, Masco Corp. is a leading manufacturer of home improvement and building products -- including Arrow, Delta, Behr and KraftMaid -- as well as a leading provider of services that include the installation of insulation and other building products.

Energy costs and slow job growth are tempering expectations at Taylor, Mich.-based Masco, which posted a loss of $46 million in the first quarter, compared to a loss of $7 million in the same quarter last year.

 Masco saw sales decline 4% to $1.8 billion in its first quarter of 2011. North American sales decreased seven percent and International sales increased four percent.   

"While we still believe that the second half of 2011 will be stronger than the first half, our enthusiasm has been tempered somewhat," said Masco CEO Tim Wadhams.