Masco Reports Sales Decline Tied to Housing

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					           Industry Update               Noteworthy developments impacting the kitchen and bath market

         Masco Reports Sales                                                                               Electrolux          Bath Design Division
                                                                                                           spokesperson,
         Decline Tied to Housing                                                                           Kelly Ripa,         Launched by NJ Firm
                                                                                                           poses last
         Taylor, MI — Masco Corporation,                                                                                       Linden, NJ — After nearly 100
                                                                                                           month during
         the parent company of several of the                                                              the company’s
                                                                                                                               years as a plumbing and HVAC
         kitchen and bath industry’s leading                                                               launch of its       wholesaler, Linden, NJ-based
         product brands, has reported a 2008                                                               newest color        W. A. Birdsall & Co. has launched a
         decline in sales resulting from what                                                              line ‘Red Hot       new division, Birdsall Bath Design
         the company termed “significantly                                                                  Red,’ held          (BBD), the company announced.
         lower sales volume” to the housing                                                                in the SoHo            Birdsall & Co. officials an-
         market, as well as a continued dip                                                                section of          nounced that the company has
                                                                                                           New York City.
         in consumer spending for home                                                                                         signed a 10-year lease for a newly
         improvement products.                                                                                                 opened 6,500-sq.-ft. luxury bath
            The publicly traded Masco,           2008, Masco closed six manufactur-     fundamentals for the new-home          showroom in North Plainfield, NJ.
         headquarter
				
DOCUMENT INFO
Description: Business conditions "remain difficult," Masco officials said, estimating that 2009 housing starts will decline by about 35%, to a range between 550,000 and 600,000 units. The company said it also anticipates that consumer spending for home improvement products will continue to decline in the near-term.
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