Group Acquires Large Share Of Shermag

March 6, 2007   by in UnCategorized   

By Home Furnishings Business in Case Goods on March 2007 Clarke Inc., an “activist” investor group based in Halifax, Nova Scotia, announced Tuesday that it has acquired more than one-sixth of the outstanding shares of Shermag, which recently announced a sharp drop in sales.

In a news release, Clarke officials described the firm as an “activist catalyst investor” with a diversified portfolio of strategic and opportunistic investments. The announcement said Clark now holds 2.37 million shares of Shermag, or about 17.82 percent of the company’s outstanding shares. Clarke officials said the purchase was made for investment purposes and the firm may acquire additional shares. A company description included in the announcement said Clarke invests in “undervalued businesses and participates actively where necessary to enhance performance and increase returns.” The statement also said Clarke delivered a 33 percent return on shareholder’s investments in 2006, including dividends.

In mid-February, Shermag, Canada’s largest publicly traded furniture manufacturer, announced a loss of $7.7 million in its third quarter as revenues fell 17.3 percent. It said it would idle 283 workers by closing two factories in Quebec and shifting production to Asia.

Mattress Firm Approaching Number One Mark With Purchase

March 6, 2007   by in UnCategorized   

By Home Furnishings Business in Bedding on March 2007 Rapidly expanding Mattress Firm, Houston, could become the nation’s largest bedding retailer—at least in terms of the number of stores it operates—by completing the acquisition of the 140-store Mattress Discounters chain, which has a large presence in five Northeastern states and Washington, D.C.

With the purchase—and a recently announced acquisition of another chains—Mattress Firm will grow to 500 locations in 25 states. Select Comfort, Minneapolis, currently ranks as the nation’s largest bedding retailer with more than 440 stores.

Terms of the purchase of Mattress Discounters, Upper Marlboro, Md., were not disclosed in an announcement Tuesday. The deal is in the due diligence phase.

In a news release, Mattress Firm CEO Gary Fazio said “This acquisition allows Mattress Firm to enter several new fast-growing markets and is another step in our overall expansion strategy that includes both organic and acquisition growth.”

Since being acquired by Boston-based investment firm J.W. Childs in January, Mattress firm has also announced the acquisition of Bedtime Mattress, a 15-store chain in Las Vegas, and opened the first of three stores in Orlando, Fla. Officials have said the moves are part of a plan to grow the company into a nationwide chain.

DOC Names Chinese Bedroom Makers for Second Administrative Review

March 6, 2007   by in UnCategorized   

By Home Furnishings Business in Bedroom on March 2007 The U.S. Department of Commerce has identified 196 Chinese manufacturers of wood bedroom furniture for its administrative review of goods imported during the calendar year 2006.

DOC announced initiation of the review Feb. 28, and currently is scheduled to announce its ruling by Jan. 31, 2008. DOC already has a review underway on goods imported during the second half of 2004 and the full year 2005.

According to today’s Federal Register notice, DOC is requiring all firms listed that wish to qualify for separate-rate status in this administrative review to complete, as appropriate, either a separate-rate status application or certification, as described below.

For this administrative review, in order to demonstrate separate-rate eligibility, the Department requires entities for whom a review was requested that were assigned a separate rate in the less than fair value investigation of this proceeding to certify that they continue to meet the criteria for obtaining a separate rate. The certification form is available on the Department’s Web site at http://ia.ita.doc.gov/ today. In responding to the certification, please follow the ``Instructions for Filing the Certification’’ in the Separate Rate Certification.

Certifications are due to the Department no later than March 21, 2007.

For entities that have not previously been assigned a separate rate, to demonstrate eligibility for such, the Department requires a separate-rate status application. The separate-rate status application is available on the Department’s Web site at http://ia.ita.doc.gov. In responding to the separate-rate status application, refer to the instructions contained in the application. Separate-rate status applications are due to the Department no later than May 7, 2007.

In addition, DOC named Golden Well International and its supplier Zhangzhou XYM Furniture Product Co.; and Mei Jia Ju Furniture Industrial Co. for reviews of new Chinese shippers of wood bedroom furniture.

The following manufacturing entities are listed for the administrative review for wood bedroom furniture imported from China during 2006:

Alexandre International Corp., Southern Art Development Ltd., Alexandre Furniture (Shenzhen) Co. Ltd., Southern Art Furniture Factory.

Art Heritage International Ltd., Super Art Furniture Co. Ltd., Artwork Metal & Plastic Co., Ltd., Jibson Industries Ltd., Always Loyal International.

Baigou Crafts Factory of Fengkai.

Beijing MingYaFeng Furniture Co., Ltd.

Best King International Limited, Best King International Ltd., Bouvrie International Ltd.

Billy Wood Industrial (Dong Guan), Great Union Industrial (Dongguan) Co., Ltd., Time Faith Ltd.

BNBM Co., Ltd.

Changshu HTC Import & Export Co. Ltd.

Chen Meng Furniture (PTE) Co., Ltd., Cheng Meng Decoration & Furniture (Suzhou) Co., Ltd.

Chuan Fa Furniture Factory.

Classic Furniture Global Co., Ltd.

Clearwise Co., Ltd.

COE, Ltd.

Conghua J.L. George Timber & Co., Ltd.

Dalian Guangming Furniture Co., Ltd.

Dalian Huafeng Furniture Co., Ltd.

Dalian Pretty Home Furniture Co., Ltd.

Decca Furniture Ltd.

Deqing Ace Furniture & Crafts Ltd.

Der Cheng Furniture Co., Ltd.

Dong Guan Golden Fortune Houseware Co., Ltd.

Dong Guan Hua Ban Furniture Co., Ltd.

Dongguan Cambridge Furniture Co., Ltd., Glory Oceanic Co., Ltd.

Dongguan Chunsan Wood Products Co., Ltd., Trendex Industries Ltd.

Dongguan Creation Furniture Co., Ltd., Creation Industries Co., Ltd.

Dongguan Dihao Furniture Co., Ltd.

Dongguan Grand Style Furniture Co., Ltd., Hong Kong DaZhi Furniture Company Ltd.

Dongguan Great Reputation Furniture Co., Ltd.

Dongguan Hero Way Woodwork Co., Ltd., Hero Way Enterprises, Ltd., Dongguan Da Zhong Woodwork Co., Ltd., Well Earth International Ltd.

Dongguan Hung Sheng Artware Products Co., Ltd.,Coronal Enterprise Co., Ltd.

Dongguan Kin Feng Furniture Co., Ltd.

Dongguan Kingstone Furniture Co., Ltd., Kingstone Furniture Co., Ltd.

Dongguan Landmark Furniture Products Ltd.

Dongguan Liaobushangdun Huada Furniture Factory, Great Rich (HK) Enterprises Co., Ltd.

Dongguan Lung Dong Furniture Co., Ltd., Dongguan Dong He Furniture Co., Ltd.

Dongguan Mingsheng Furniture Co., Ltd.

Dongguan New Technology Import & Export Co., Ltd.

Dongguan Qingxi Xinyi Craft Furniture Factory (Joyce Art Factory)

Dongguan Sea Eagle Furniture Co., Ltd., Kalanter (Hong Kong) Furniture Company Ltd.

Dongguan Singways Furniture Co., Ltd.

Dongguan Sunpower Enterprise Co., Ltd.

Dongguan Sunrise Furniture Co., Taicang Sunrise Wood Industry Co., Ltd., Shanghai Sunrise Furniture Co., Ltd., Fairmont Designs.

Dongguan Yihaiwei Furniture Ltd.

Dongying Huanghekou Furniture Industry Co., Ltd.

Dorbest Ltd., Rui Feng Woodwork Co., Ltd., Rui Feng Lumber Development Co., Ltd., aka, Dorbest Ltd., Rui Feng Woodwork (Dongguan) Co., Ltd., Rui Feng Lumber Development (Shenzhen) Co. Ltd.

Dream Rooms Furniture (Shanghai) Co., Ltd.

Engmost Investments Ltd.

Eurosa (Kunshan) Co., Ltd., Eurosa Furniture Co., (PTE) Ltd.

Ever Spring Furniture Co., Ltd., S.Y.C. Family Enterprise Co., Ltd.

Fine Furniture (Shanghai) Ltd.

Fortune Furniture Ltd. and its affiliate, Dongguan Fortune Furniture Ltd.

Foshan Guanqiu Furniture Co., Ltd.

Fujian Lianfu Forestry Co., Ltd., aka Fujian Wonder Pacific Inc.

Fuzhou Huan Mei Furniture Co. Ltd.

Gaomi Yatai Wooden Ware Co., Ltd., Team Prospect International Ltd., Money Gain International Co.

Garri Furniture (Dong Guan) Co., Ltd., Molabile International, Inc. Weei Geo Enterprise Co., Ltd.

Golden Well International (HK), Ltd.

Green River Wood (Dongguan) Ltd.

Guangdong New Four Seas Furniture Manufacturing, Ltd., Four Seas Furniture Manufacturing Ltd.

Guangming Group Wumahe Furniture Co., Ltd.

Guangzhou Lucky Furniture Co., Ltd.

Guangzhou Maria Yee Furnishings, Ltd., Pyla HK Ltd.

Hainan Jong Bao Lumber Co., Ltd., Jibbon Enterprise Co., Ltd.

Hainan Rulai Furniture Co., Ltd.

Hamilton & Spill Ltd.

Hang Hai Woodcrafts Art Factory.

Hong Kong Boliya Industry Development Co., Ltd.

Hong Yu Furniture (Shenzhen) Co., Ltd.

Hualing Furniture (China) Co., Ltd., Tony House Manufacture (China) Co., Ltd., Buysell

Investments Ltd., Tony House Industries Co., Ltd.

Huizhou Jadom Furniture Co., Ltd., Jadom Furniture Co., Ltd.

Hung Fai Wood Products Factory Ltd.

Hwangho New Century Furniture (Dongguan) Corp. Ltd., Trade Rich Furniture (Dongguan) Corp., Ltd., Hwang Ho International Holdings Limited

Inni Furniture.

Jardine Enterprise, Ltd.

Jiangmen Kinwai Furniture Decoration Co., Ltd.

Jiangmen Kinwai International Furniture Co., Ltd.

Jiangsu Dare Furniture Co., Ltd.

Jiangsu Weifu Group Company Fullhouse Furniture Manufacturing Corp.

Jiangsu Xiangsheng Bedtime Furniture Co., Ltd.

Jiangsu Yuexing Furniture Group Co., Ltd.

Jiedong Lehouse Furniture Co., Ltd.

King Kei Trading Co. Ltd., King Kei Furniture Factory, Jiu Ching Trading Co., Ltd.

King Wood Furniture Co., Ltd.

King’s Way Furniture Industries Co., Ltd., Kingsyear, Ltd.

Kong Fong Furniture, Kong Fong Mao Iek Hong

Kuan Lin Furniture (Dong Guan) Co., Ltd., Kuan Lin Furniture Factory, Kuan Lin Furniture Co., Ltd.

Kunshan Junsen Furniture Co., Ltd.

Kunshan Lee Wood Product Co., Ltd.

Kunshan Summit Furniture Co. Ltd.

Kunwa Enterprises Company/

Langfang TianCheng Furniture Co., Ltd.

Wood (Dongguan) Co., Ltd., King Rich International, Ltd.

Link Silver Ltd. (V.I.B.), Forward Win Enterprises Co. Ltd., Dongguan Haoshun Furniture Ltd.

Locke Furniture Factory, Kai Chan Furniture Co. Ltd., Kai Chan (Hong Kong) Enterprise Ltd., Taiwan Kai Chan Co. Ltd.

Longrange Furniture Co. Ltd.

Maria Yee, Inc.

Mei Jia Ju Furniture Industrial Shenzhen Co., Ltd.

Meikangchi (Nantong) Furniture Company Ltd.

Nanjing Nanmu Furniture Co., Ltd.

Nan Tong YangZi Furniture Co., Ltd.

Nanhai Baiyi Woodwork Co. Ltd.

Nanhai Jiantai Woodwork Co. Ltd., Fortune Glory Industrial, Ltd. (HK Ltd.)

Nantong Dongfang Orient Furniture Co., Ltd.

Nantong Yushi Furniture Co., Ltd.

Nathan China Group

Nathan International Ltd., Nathan Rattan Factory*

Ningbo Furniture Industries Limited, Techniwood Industries Ltd., Ningbo Hengrun Furniture Co., Ltd.

Orient International Holding Shanghai Foreign Trading Co., Ltd.

Passwell Corporation, Pleasant Wave Ltd.

Perfect Line Furniture Co., Ltd.

Po Ying Industrial Co.

Primewood International Co., Ltd., Prime Best International Co., Ltd., Prime Best Factory, Liang Huang (Jiaxing) Enterprise Co., Ltd.

Profit Force Ltd.

PuTian JingGong Furniture Co., Ltd.

Putian Ou Dian Furniture Co., Ltd.

Qingdao Beiyuan-Shengli Furniture Co., Ltd.,

Qingdao Beiyuan Industry Trading Co. Ltd.

Qingdao Liangmu Co., Ltd.

Qingdao Shengchang Wooden Co., Ltd.

Restonic (Dongguan) Furniture Ltd., Restonic Far East (Samoa) Ltd.

RiZhao SanMu Woodworking Co., Ltd.

Season Furniture Manufacturing Co., Season Industrial Development Co.

Sen Yeong International Co. Ltd., Sheh Hau International Trading Ltd.

Shanghai Aosen Furniture Co., Ltd.

Shanghai Jian Pu Export & Import Co., Ltd.

Shanghai Maoji Imp. & Exp. Co. Ltd.

Shanghai Star Furniture Co., Ltd.

Shanghai XingDing Furniture Industrial Co., Ltd.

Sheng Jing Wood Products (Beijing) Co., Ltd., Telstar Enterprises Ltd.

Shenyang Kunyu Wood Industry Co., Ltd.

Shenyang Shining Dongxing Furniture Co., Ltd.

Shenzhen Dafuhao Industrial Development Co., Ltd.

Shenzhen Forest Furniture Co., Ltd.

Shenzhen Jiafa High Grade Furniture Co., Ltd., Golden Lion International Trading Ltd. Shenzhen New Fudu Furniture Co., Ltd.

Shenzhen Shen Long Hang Industry Co., Ltd.

Shenzhen Tiancheng Furniture Co., Ltd., Winbuild Industrial Ltd., Red Apple Furniture Co., Ltd. and Red Apple Trading Co., Ltd.

Shenzhen Wonderful Furniture Co., Ltd.

Shenzhen Xiande Furniture Factory

Shenzhen Xingli Furniture Co., Ltd.

Shing Mark Enterprise Co., Ltd., Carven Industries Ltd. (BVI), Carven I Industries Limited (HK), Dongguan Zhenxin Furniture Co., Ltd., Dongguan Yongpeng Furniture Co., Ltd.

Shun Feng Furniture Co., Ltd.

Sino Concord (Zhangzhou) Furniture Co., Ltd., Sino Concord International Corporation Songgang Jasonwood Furniture Factory, Jasonwood Industrial Co., Ltd. S.A.

Speedy International Ltd.

Starcorp Furniture (Shanghai) Co., Ltd., Orin Furniture (Shanghai) Co., Ltd., Shanghai Starcorp Furniture Co., Ltd.

Starwood Furniture Manufacturing Co., Ltd.

Starwood Industries Ltd.

Strongson Furniture (Shenzhen) Co., Ltd., Strongson Furniture Co., Ltd., Strongson (HK) Co.

Sunforce Furniture (Hui-Yang) Co., Ltd., Sun Fung Wooden Factory, Sun Fung Co., Shin Feng Furniture Co. Ltd., Stupendous International Co. Ltd.

Superwood Co. Ltd., Lianjiang Zongyu Art Products Co., Ltd.

T.J. Maxx International Co., Ltd.

Tarzan Furniture Industries, Ltd., Samso Industries Ltd.

Teamway Furniture (Dong Guan) Co. Ltd., Brittomart Inc.

Tianjin First Wood Co., Ltd.

Tianjin Fortune Furniture Co. Ltd.

Tianjin Master Home Furniture.

Tianjin Phu Shing Woodwork Enterprise Co., Ltd.

Tianjin Sande Fairwood Furniture Co., Ltd.

Time Crown (U.K.) International Ltd., China United International Co.

Top Art Furniture, Ngai Kun Trading.

Top Goal Development Co., Top Goal Furniture Co., Ltd. (Shenzhen).

Tradewinds Furniture Ltd.

Tradewinds International Enterprise Ltd.

Transworld (Zhangzhou) Furniture Co., Ltd.

Trendex Industries Limited (BVI).

Triple J Furntiure Enterprises Co., Mandarin Furniture (Shenzhen) Co., Ltd.

Tube-Smith Enterprises (ZhangZhou) Co., Ltd., Tube-Smith Enterprise (Haimen) Co., Ltd., Billionworth Enterprise, Ltd.

Union Friend International Trade Co., Ltd.

U-Rich Furniture (ZhangZhou) Co., Ltd., U-Rich Furniture, Ltd.

Wan Bao Cheng Group Hong Kong Co., Ltd.

Wanhengtong Nueevder (Furniture) Manufacture Co., Ltd., Dongguan Wanhengtong Industry Co., Ltd.

Winmost Enterprises Ltd.

Winny Universal, Ltd., Zhongshan Winny Furniture Ltd., Winny Overseas, Ltd.

Woodworth Wooden Industries (Dong Guan) Co., Ltd.

Xiamen Yongquan Sci-Tech Development Co., Ltd.

Xilinmen Group Co., Ltd.

Xingli Arts & Crafts Factory of Yangchun.

Yangchun Hengli Co., Ltd.

Yeh Brothers World Trade Inc.

Yichun Guangming Furniture Co., Ltd.

Yida Co. Ltd., Yitai Worldwide Ltd., Yili Co., Ltd., Yetbuild Co., Ltd.

Yihua Timber Industry Co., Ltd., aka Guangdong Yihua Timber Industry Co., Ltd.

Yongxin Industrial (Holdings) Ltd.

ZhangZhou Sanlong Wood Product Co., Ltd.

Zhangjiagang Daye Hotel Furniture Co., Ltd.

Zhangjiagang Zheng Yan Decoration Co. Ltd.

Zhangzhou Guohui Industrial & Trade Co. Ltd.

Zhanjiang Sunwin Arts & Crafts Co., Ltd.

Zhejiang NiannianHong Industrial Co., Ltd.

Zhong Cheng Furniture Co., Ltd.

Zhong Shan Fullwin Furniture Co., Ltd.

Zhongshan Fookyik Furniture Co., Ltd.

Zhongshan Gainwell Furniture Co., Ltd.

Zhongshan Golden King Furniture Industrial Co., Ltd.

Zhongshan Youcheng Wooden Arts & Crafts Co., Ltd.

Zhoushan For-Strong Wood Co., Ltd.

Harden Launches “Living Canopy” Project

March 6, 2007   by in UnCategorized   

By Home Furnishings Business in on March 2007 Harden Furniture is leading the charge in a fundraising and awareness movement to create opportunities for youth education and environmental cleanup in upstate New York.

As part of the Living Canopy Project, Harden has commissioned Greensboro, N.C., artist Brian Hibbard to create a symbol for the project to raise industry awareness and generate funds for a New York State-based land and water restoration effort.

The project is planned in conjunction with Camden High School Science Department in Camden, N.Y., and State University of New York, College of Environmental Science and Forestry in Syracuse. Harden kicks off its fundraising efforts during the spring High Point Market on Tuesday, March 27, with an afternoon event honoring the company’s 163 years in business.

Raffle tickets will be on sale in Harden’s showroom at 200 N. Hamilton throughout the week and are available to anyone attending the market. Proceeds from the sale will be matched by Harden Furniture and be donated to the school program. The holder of the winning ticket, which will be announced at the close of the market, can choose to have the 30-pound steel tree sculpture delivered to the location of their choice, courtesy of Harden, or they may donate the Living Canopy Project to Camden High School as a record of the students’ work. Former New York Governor George Pataki appointed Greg Harden, president, Harden Furniture, to the New York State Environmental Board in December 2006. Harden’s company has a long-held commitment to sustainable forestry practices and the protection of the environment.

“Our goal at Harden has always been to be good stewards of the environment, and an important part of that effort is giving students the opportunity for hands-on experience with environmental issues,” Harden said. “Likewise, we have also been on the forefront of raising awareness regarding sound environmental practices within the furniture industry. The Living Canopy Project is just one way to bring communities and industry together to make things better for everyone. And, the creation of a symbolic work of art is a beautiful reminder for all.”

Ikea Sets Utah Store Opening

March 5, 2007   by in UnCategorized   

By Home Furnishings Business in Furniture Retailing on March 2007 Ikea has set a May 23 opening date for its new store in Draper, Utah, the Swedish home furnishings retail giant’s 30th U.S. location and its first in the Mountain West region.

“Due to the progress made during the fall and the snowy winter, we are confident the remaining construction milestones and interior build-up process will be complete by late May,” said Paul Janzen, store manager of the future Ikea Draper in a release. “Now our primary objective is to continue hiring and training the nearly 350 Utahns who will be joining the Ikea coworker family before we open.”

In addition to 10,000 exclusively-designed items, the 310,000-square-foot Ikea Draper will present 50 different room settings, three complete model homes, a supervised children’s play area, and a 300-seat restaurant serving Swedish specialties such as meatballs with lingonberries or salmon plates, as well as American dishes. Other family-friendly features include a “Children’s IKEA” area in the showroom, baby care rooms, preferred parking and play areas throughout the store.