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MASCO FACT SHEET
Masco has acquired three independent medium-sized UK-based companies,
all of which participate in the vinyl window industry. The companies are
Cambrian Windows, Duraflex and Premier Manufacturing.
In both the UK and North America, vinyl windows are the fastest growing
segment in the window industry. Masco entered the European vinyl window
industry in 2001 with the acquisition of Griffin Windows in the UK. In
a highly fragmented industry, the additional acquisition of these three
companies allows opportunity to leverage resources of Masco's existing
window companies, along with its England-based hardware supplier, Avocet.
Together, these companies will create a
one-stop shop for UK-based homebuilders. Currently, vinyl windows account
for approximately 65 percent of the $6.3 billion UK total window market.
In addition, Masco owns Milgard, a leading North American manufacturer
of vinyl windows.
Cambrian Windows Ltd
Founded in the early 1990s, Cambrian Windows manufactures vinyl window
frames.
Sales:
Cambrian's customers are small to mid-sized window fabricators in the
UK. The company supplies these fabricators with finished window frames
who insert the glass and install the windows.
Operations/Managment:
Headquartered in Pembroke, South Wales, the company operates a 60,000
square-foot facility and employs 120 people in manufacturing, management
and administration.
The company's executive management team includes:
Peter Morgan, Managing Director, founded the company in 1992 and is responsible
for the company's overall strategic direction and growth.
Michelle Morgan, Finance Director, joined the company at its inception
and is responsible for all financial functions.
Richard Iles, Sales Director, joined the company in 2000 after leaving
Griffin Windows and is responsible for sales and marketing functions.
Duraflex
Ltd
Duraflex was founded as an extruder of window, door and conservatory vinyl
frame components. Today, the company is believed to be the third largest
window frame extruder in the UK.
Sales
Duraflex supplies its extruded shapes to a broad array of customers including
Griffin Windows and Cambrian Windows. Almost all of its extrusions are
sold to window, conservatory and door fabricators who supply small, local
retailers selling the products under private label.
Operations/Management
Headquartered in Cheltenham, Duraflex operates in three facilities, with
a total of 140,000 square feet of manufacturing, distribution, customer
service and administration space. Duraflex employs 150 people in manufacturing,
management and administration.
The company's executive management team includes:
Chris Phillips, Managing Director, joined Duraflex in 1999 and is responsible
for overall company development.
Barry McCarthy, Director of Operations, joined the company in 1997 and
oversees the company's overall operations.
Steve Osborne, Director of Finance, joined Duraflex in 2002 and is responsible
for all accounting, financial reporting and controls.
Dean Lossey, Director of Technical Services, joined Duraflex in 1996 and
is responsible for all design and technical functions.
Neil Roberts, Director of Marketing, joined Duraflex in 1994 and is responsible
for all sales and marketing functions.
Premier Manufacturing Ltd
Founded in 1992, Premier Manufacturing is a fabricator of vinyl window
and door frames in the UK.
Sales
Premier's core customer base includes numerous independent installers
of windows and doors. The principal route to market is via eight distribution
centers in the UK. Delivery is guaranteed within one week of order placement.
The company also supplies the fast growing new construction window and
door market.
Operations/Management
Headquartered in Caerphilly, South Wales, the company operates a 60,000
square-foot facility and employs 91 people in manufacturing, management
and administration.
The company's executive management team includes:
Jacqueline Beynon, Managing Director, acquired Premier in 1998 and is
responsible for overall strategic direction and growth.
Gareth Thomas, Finance Director, joined the company in 1998 and is responsible
for all financial functions.
Paul Trotman, Sales Director, joined the company in 2001 and is responsible
for all sales and marketing functions.
Acquisition Terms
The purchase prices for Duraflex, Premier and Cambrian are consistent
with Masco's financial criteria for acquiring companies.
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