News @ The GL@ZINE

At a ceremony last week His Royal Highness, the Duke of York, officially opened Guardian Industries UK Ltd's float glass factory in Goole, East Riding of Yorkshire. Since 2001 the Duke has been active working as the UK's Special Representative for International Trade and Investment, the government body which supports UK companies trading internationally and encourages foreign inward investment.

(Left) The new Guardian Glass plant in Goole, (right) HRH The Duke of York shares a joke with William Davidson, CEO and owner of Guardian

The Duke was formally welcomed to the £97m green-field investment by William Davidson, CEO and owner of Guardian Industries Corp., and Julian Proffitt, Plant Manager of Guardian lndustries UK Ltd. The factory, which employs over 200 people, manufactures float glass destined for the insulated glazing, interior fitting, furniture and domestic appliance markets. During an extensive factory tour the Duke was able to experience first-hand the various stages ofthe float glass production process and meet the dedicated employees who contribute to the safe, efficient operation of this continuous process.

Prior to the unveiling of a glass plaque commemorating the official opening of the factory, Guardian's customers and employees had the opportunity to be presented to His Royal Highness. Customers were subsequently invited to freely visit 'their' factory, the existence of which is the realisation of Guardian Industries' commitment to the continued growth of independent UK and Irish customers.

Commenting on the opening, Juiian Proffitt said:
'The presence of the Duke of York at this celebration underlines the significance of this occasion for Guardian's customers and employees. We are delighted to be able to reinforce the strength of our relationship with both our customers and our employees and confim our commitment to a long and mutually profitable future.'

Attending for its 14th consecutive year at Glassex, Masterframe Windows, manufacturer of high-quality PVC-U sliding sash windows is offering visitors to its stand the opportunity to win 2 VIP tickets for the first England friendly in the new Wembley stadium right next to the Royal Box.

If football’s not your passion there are lots of other reasons to visit the Masterframe stand, not least free seminars with top speakers from around the country giving practical advice on increasing turnover and profitability for installers.

This is also your last chance to register for the Glassex Challenge sponsored by Masterframe Windows. Why not prove your fitting skills by installing a door, flat, bay and sliding sash windows and conservatory roof. Contact Sonia Smith on 01376 510410 to book a place on one of the free seminars or to enter the Glassex Challenge.

Make a visit to stand D070 your top priority, and you could be taking home more than one winning ticket!

Tel: 01376 510410
Web: http://www.masterframe.co.uk

Mark Lyons Appointed Managing Director Of Pikington Building Products Europe

Mark Lyons, currently Chief Financial Officer, Pilkington Building Products Worldwide has been named as the new Managing Director, Pilkington Building Products, Europe.

The position was held previously by Stuart Chambers, in addition to his role as Group Chief Executive, Pilkington plc.

Mark joined Pilkington in 1990 as Financial Controller of Pilkington Microelectronics.

Since then he has held a number of positions within the Company, including a period as European Accountant in Brussels; Finance Director of Primary Products Europe; Head of Group Accounting and Treasury, and since 2003, his last position as Chief Financial Officer, Pilkington Building Products Worldwide.

Darby Glass has introduced soft-coat glass production at its Scunthorpe site. The company already successfully produces soft-coat at two of its other regional operations, Glengarnock near Glasgow and Gloucester.

With this latest expansion Darby Glass can now offer a reliable nationwide supply service for both domestic and commercial applications. The upgrade of the North Lincolnshire plant required a £1.25m investment in state-of-the-art toughening and processing machinery, including a new pro-convection furnace, together with an extensive staff training programme.

Darby Glass is one of the country’s leading independent IGU manufacturers and specialist glass processors and tougheners. Darby Scunthorpe is the company’s largest manufacturing site, covering an area of 121,000 sq ft, and also accommodates the Group Head Office. The introduction of soft-coat glass at Scunthorpe is part of a major growth and development strategy by the new management team and reflects a commitment to keeping the company at the forefront of glass technology and market demand. Sales and Marketing Director Chris Roberts comments: ‘Hard-coated glass in its current form has peaked in terms of performance. Soft-coat already offers a clearer option with better insulating properties, and that’s what our customers are asking for.’

Darby Glass believes increasing its soft-coat glass production will optimise opportunities in the commercial market, particularly the aluminium sector, where it can make a significant contribution to the overall U value. It will also play a key role in the company’s conservatory market strategy to be announced this year, by providing conservatory manufacturers with a means of differentiating their product with an advanced and innovative glazing solution.

Darby Glass will be sourcing glass for its soft-coat range from St-Gobain Glass. ‘As an independent we’re not restricted to one manufacturer which enables us to meet our customers’ varied and changing needs and at present we feel that St-Gobain’s Total best suits our domestic requirements,’ explains Chris. The company also uses St-Gobain Planitherm and Futur N as part of a comprehensive selection of soft-coated glass that covers toughened, annealed, laminated and curved toughened units, plus look-alike coloured panels. New products will be introduced in line with customer demand and technological advancements.

Being more fragile and susceptible to finger marks than hard-coat, soft-coat glass requires careful handling during processing and Darby Glass has engaged in a number of training courses alongside the major glass companies. ‘We’ve arranged specialist training courses for our production staff in association our glass suppliers to highlight the stringent processing procedures and disciplines required to meet our exacting standards,’ continues Chris. The lead time for soft-coated glass is around five working days, although Darby Glass will try to accommodate specific customer delivery requirements where possible.

Although the market for soft-coated glass is restricted to the huge high-performance IGU sector, Chris believes the future could hold even more exciting opportunities for Darby Glass which plans to be a major player. ‘While still in its infancy, soft-coat has exceptional clarity and insulating properties and already outperforms hard-coat. The next generation will be dual purpose and offer solar control as well as insulation. And who knows what the third generation will offer, but our customers can be assured that Darby Glass will strive continuously to bring them the very latest developments to help them maintain a real competitive edge.’

Tel: 01724 280044
Web: http://www.darbyglass.co.uk

A substantial increase in both market penetration and share for Beaufort Secure Design over the past two years has led to the strengthening of its Board of Directors. The company recognises that this success and subsequent expansion of the workforce requires focused management and direction to ensure the company is more than able to keep pace with its continued growth strategy.

Changes to Beaufort’s new board include the appointment of Sales Director Nigel Yates as Managing Director, while Operations Director Gwyneth Jones takes on the role of Commercial Director. The new Operations Director is Peter Burke, formerly Projects Manager, while Andy Parker continues as Financial Director.

From left to right; Andy Parker, Financial Director, Peter Burke, the new Operations Director, Gwyneth Jones, Commercial Director and Nigel Yates, Managing Director.

The overall direction of Beaufort will be the responsibility of Nigel Yates and Gwyneth Jones. Nigel will look after the company’s future goals and aspirations, including the sales and marketing functions, and will work with the rest of the Board to satisfy the requirements of all shareholders.

Purchasing, stock control, HR and overseeing administration will be handled by Gwyneth. As Finance Director, Andy will be responsible for financial planning, reporting and control as well as day to day accounting procedures.

Peter, who joined Beaufort nearly a year ago, will now co-ordinate the functions of all departments to ensure deadlines are met on time. He will also oversee the implementation of all new projects from product designs to stock control systems, supervise quality control and liaise with suppliers to ensure Beaufort’s high standards are met each and every time.

Nigel says, ‘Our significant expansion and development into the commercial specification sector has meant we have had to strengthen many areas of the business to satisfy the increased demand for information as well as sales and technical support from some of the most professional people working in our industry.

‘Strengthening our Board of Directors is essential for Beaufort to continue on its growth path. We believe we now have an even stronger senior management team, each a professional in their own area of expertise and who together will ensure that the company continues to exceed the expectations of its customers and aspirations of its shareholders.

Tel: 01633 29 40 40
Web: http://www.beaufortsecure.co.uk

Häfele goes to Town

Although better known in furniture assembly fittings, Häfele’s more recent expansion into the fast growing architectural ironmongery sector for building and construction has led to the opening of a dedicated new sales office to serve the Greater London area.

Newly appointed London area sales manager Harry Hendry says: ‘architectural ironmongery sales have taken off for Häfele nationwide, but busy and expanding construction areas like London are growing out of all proportion to the traditional core business. The company overall has grown at a fairly steady 10% annually in recent years, which is good performance by any standards, but architectural ironmongery sales are set to exceed that figure for the foreseeable future.’

Harry Hendry (back, centre) with Häfele’s new London sales team: Jeremy Klein (left) and John Finch plus Kate Ansell (left) and Kay Mason.

Häfele’s Architectural Ironmongery sales began in Greater London in December 2003 and sales hit £2.5M in the first year. Harry Hendry has now assembled a team of five at Häfele’s existing furniture fittings sales outlet at Bourne Court in Woodford, Essex, and for 2005 AI now has its own ground floor suite of offices, limited but increasing product displays and its own entrance.

Harry’s team comprises Jeremy Klein, product manager on sliding door gear; John Finch, estimator, who had worked with Harry for several years previously at a south London competitor; and Kay Mason and Kate Ansell on in-house sales. The latter are both on Guilds training courses for Dip GAI certificates to match those of other team members and to build ‘structured career paths’ for themselves.

‘I‘ve worked in architectural ironmongery since I left college in 1971,’ says Harry, ‘and I made the board in my last two posts. Häfele’s range of products is superb and growing all the time and it’s also the slickest run company that I’ve worked with !’

Tel: 01788 542020
Email: mailto:rod.flanagan@hafele.co.uk

Aztec Conservatory Roof Systems has invested in a software package that enables its technical support team to create three-dimensional drawings of components and assembly methods, add annotations and animation, and email it to its customers.

'When you're trying to explain a problem, it can be difficult in just words. It helps to see the actual parts and how a particular element is fabricated, assembled. The technology was developed for the engineering industry, but we saw its potential for helping our customers resolve any technical issues, in a way that is significantly faster and more accurate than trying to explain verbally or organising a site visit,' explains Aztec Conservatory Roof Systems IT Manager Andrew Lang.

Using the programme, Aztec can capture and email to the customer a particular detailing in a slideshow that demonstrates how components fit together, with annotations, that the customer can open on their computer and manipulate as required- rotating the drawing to see different views.

Additionally, Aztec is using the software to further enhance its own presentation and sales aids. Three-dimensional graphics are being included on its new wall chart, and future sales brochures.

Kerry Connon, Aztec marketing and business development manager, adds, 'The conservatory market- fabrication and retail- is becoming increasingly sophisticated, and requires highly professional sales aids. Our investment in computer graphics will help our customers differentiate themselves and continue to win profitable business.'

Tel: 01942 720044
Email: mailto:enquiries@aztecsystems.co.uk

A new marketing business is now formed in the UK which covers all aspects of marketing for external building product manufacturers who wish to promote their products to specifiers, contractors and clients. Having wide ranging disciplines from Architectural Photography to Public Relations, all services are now available from one company. ‘image’, the name of this company, specialises in exactly that – raising company image and awareness in the eyes of potential specifiers. A higher quality business perception results in better quality and a greater number of enquiries.

Formed by Adrian Toon who successfully took a European Systems Company operating in the UK to being one of the top three suppliers of aluminium fenestration systems, the secrets of this business success are now available to other companies.

Use of the latest state of the art software and hardware enables ‘image' to produce a high quality output of work undertaken, easily transmitted to clients.

For further information on ‘image’ services contact Linda Hadfield who will be pleased to discuss your requirements. Email Linda on mailto:linda@a2n.co.uk

After selling his Trade Counter Business, Masterglaze Ltd, Andrew Scott has launched Purplex Business Solutions, a specialist Business, Marketing and Peak-Performance Consultancy Firm.

Scott is well known in the Window Industry as the architect of several highly successful company strategies, probably best known as sales and marketing director of Cambrian Windows Ltd, which achieved phenomenal growth after reinventing itself from a commercial to a trade fabricator.

‘The Window Industry is facing its own Ice Age – The climate is changing and the landscape transforming. Companies need to evolve or face extinction. The old climate is simply not returning.’ Said Scott.

Purplex works with trade and retail fabricators and installers to develop innovative new business, sales, and marketing strategies that produce results. ‘Many consultants are text-book theorists and out of touch with the day-to-day realities of running a tough business. However, Purplex provides practical, hands-on, and highly creative solutions to give clients a competitive edge.’

For more information contact Andrew Scott at Purplex Business Solutions on 0870 062 5318 or visit online at http://www.purplex.uk.com

Who Moved My Cheese?

What has cheese got to do with business? ‘Who Moved My Cheese?’ is the title of the best selling book which deals with how we react to change. What happens when the cheese store runs low can be directly related to the replacement window industry.

Bob Newall, Market Development Manager for PVC single ply roofing system company Sarnafil Roof Assured, explains why SRA is giving away copies of the book: ‘Diversification is the key in a declining market but finding the right product can be more difficult. SRA is a bolt on business. It uses your existing skills, lead generation, sales and installation and SRA provide the rest with a top quality product backed up with full SRA training and marketing support. SRA is offering a free copy of ‘Who Moved My Cheese?’ and an opportunity to discuss diversification with SRA.’

Contact Bob Newall on 01603 748985 or email:mailto:robert.newall@sarnafil.co.uk
for further information.

Celuform Links with Leading Distributor to Increase Roofline Sales

Asphaltic SIG Roofing Supplies Group is to stock a range of cellular plastic roofline products from Celuform in an effort to grab a significant share of the soffit and fascia market.

'We want to provide a high quality selection of roofline products to complement the rainwater lines for which we are so well known,' said Daniel Glater, Asphaltic's Business Development Manager at SIG.

'By joining forces with Celuform, we have a supplier who understands what builders, installers and developers need from roofline and can supply the appropriate products and components,' Glater added.

'Celuform is the longest established PVC building products manufacturer in the UK and the company's market experience is unrivalled. We want to tap into that and become a leading roofline supplier.'

Asphaltic Roofing Supplies branches in Bristol, Eastbourne, Leeds. Luton, Plymouth and Wigan are stocking the Celuform range initially, followed by a roll-out to other locations.

Celuform says that it was the first UK manufacturer of PVC-ue building products and that today it is an industry leader. The company supplies building product stockists throughout Europe and the UK with cellular plastic cladding, fascia, soffit and windowboards.

For more information about Celuform PVC-ue products call Asphaltic Roofing Supplies on 0870 1622557, or 01480 466777 to locate the nearest stockist, or Celuform on 01622 719199 or go to http://www.celuform.co.uk

Alcoa's AWAC Completes 250,000 MT Alumina Expansion in Suriname

Alcoa announced on 28th February that Suralco, owned by Alcoa World Alumina and Chemicals - a global alliance between Alcoa and Alumina Ltd., with Alcoa holding 60 percent - has completed the 250,000 metric ton per year (mtpy) expansion of its alumina refinery in Paranam, Suriname six months ahead of schedule. The 250,000 mtpy expansion, completed at a total cost of approximately $65 million or approximately $260/ton, brings the facility's total capacity to approximately 2.2 million mtpy.

Suralco and an affiliate of BHP Billiton own 55% and 45%, respectively, of the Paranam facility.

'The expansion has gone well, and we've been ahead of schedule throughout the project, which wasn't slated to be finished mechanically until the third quarter of 2005,' said Warren M. Pedersen, Suralco's managing director.

Alcoa's presence in Suriname extends back to 1916. The business, now known as Suriname Aluminum Company, L.L.C. (Suralco), originally focused on mining bauxite. In 1958, Suralco signed an agreement with the government of Suriname to develop the country's hydropower and bring the aluminium industry to Suriname. The company continues to explore opportunities to grow in the country.

Keylite Finds the Right Angle for Condensation-Free Roof Windows

Due to their very nature, roof windows bring along their own special set of challenges, not least because being at an angle, they are much more prone to condensation compared with vertical windows. As Ireland’s only indigenous roof window manufacturer, Keylite Roof Windows Ltd firmly believes that Edgetech’s Super Spacer® is the best way to counter this.

General Manager Cormac Diamond explains: ‘Having Super Spacer in our units is a huge advantage because of the condensation issue. We’re convinced that Super Spacer makes a superior window – and of course, it’s compliant with the Building Regulations too. The majority of our windows are now equipped with Super Spacer, with McIlhatton our preferred glass unit supplier for nearly two years now.’

Keylite Roof Windows Ltd started up just over three years ago as a business consisting of two people on a mission to design ‘the next generation of roof windows’. Now, the company says that it is Ireland’s leading player in this sector. 16,000 square feet of premises has become 55,000 – along with 50 employees and a weekly capacity of nearly 700 frames per week.

Tel: 02476 705570

Freefoam, manufacturer of lead-free PVC Roofline and Rainwater systems, originally launched its 20 Year Extended guarantee scheme early in 2003.

A web-based initiative, the extended guarantee is available on complete Freefoam installations where no other brand of product was used.

In brief, if the roofline, cladding or rainwater job is completed using only Freefoam products, the property qualifies for the extended cover against warping, cracking, and very importantly, against discolouration (see full terms and conditions online at http://www.freefoam.com)

Registered installations increased in 2004 by 435% compared to 2003.

‘The guarantee scheme is another initiative in our quest to become the stockist and installers' supplier of choice for roofline and rainwater systems’, comments Tony Walsh, Freefoam Managing Director.

For more information, contact Freefoam directly on 01604 759871 in the UK, 021 4911055 in Ireland, or email mailto:marketing@freefoam.com

Web: http://www.freefoam.com

Sometimes installers need door panels in a hurry and normal delivery times are just not quick enough. GAP, Europe's fourth largest door panel manufacturer, has introduced a simple but effective system to cope with these emergencies.

John Harrop, Door Panel Production Manager, explains: ‘Any door panel that needs to go through the system quickly has a 'Red Hand' sticker on it - this lets the entire GAP team know the door panel can't be put alongside the normal production run. One person is responsible for taking it through the whole system. Every time the panel comes out of one process it gets carried to the next station so it's always first in the queue. In an emergency one off we even did it in 40 minutes. The 'Red Hand' system is easy because it's visible - and very effective. It doesn't happen every day, but when it's needed our customers know they can rely on GAP.’

Contact: Mark Simm
Tel: 01254 682888
Email: mailto:simmy@gap.uk.com

Hansen Group Invests in Build-IT

The Hansen Group has awarded a contract worth over £250,000 for new management software to EVision, the company that has developed Build-IT, the construction-specific software system.

Hansen Group is a European-wide family owned business, with a turnover of over £112m. It is regarded as Northern Europe's leading independent fenestration specialist and specialist in curtain wall, commercial windows, metal doors, fire resistant and structural glazing. The initial phase of the implementation is for the UK, commencing in Manchester then rolling out to Enfield, Leeds, Gateshead and Kirby.

Build-IT will play an important part in helping the Danish company to expand its UK operation and work even more effectively with its clients.

'Starting with the implementation in Manchester will permit us to identify how best to develop our use of Build-IT and move forward with an effective training programme before we roll it out across the rest of the UK,' says IT Director Simon Townsend.

'Once fully in place, Build-IT will allow us to coordinate across all our geographical locations and different business areas of the company,' he says. 'We will be able to maintain effective central monitoring on what is happening across the company at any one time, allowing us to make smarter, faster business decisions,' he says.

'Hansen needs a management information system that will allow it to manage a diverse range of operations,' explains Alan Robbie, Director of EVision. 'Build-IT is based on a Microsoft platform, has been selected by the IT giant to deliver key solutions in the construction and property vertical market, and presents information in a Microsoft Windows environment that users find versatile and easy to use.'

SFS intec’s latest delivery performance figures show a near perfect record on meeting customer delivery deadlines, affirming the window fastener and door hinge manufacturer’s commitment to service excellence.

Despite customers often citing delivery let-downs as a major and usually costly headache, the company says that few fastener and hinge manufacturers and distributors have the logistics expertise and technological backing of SFS intec. This has resulted in the Leeds based company delivering its fasteners and hinges when it says it will on an average of 99.5% of occasions - in some months it scores 100%.

‘As far as we know, this is a first – no other fastener manufacturer or supplier openly publishes their delivery statistics,’ says Mick Maddison, customer service manager for SFS intec. ‘For us, timely deliveries are absolutely vital to the success of our customers’ businesses as we understand the huge cost and disruption brought when a supplier lets you down.

‘One of our customers in the construction industry estimates that running out of fasteners would cost their business up to £3,000 per hour. When this sort of money is at stake, why risk buying from a supplier who cannot offer assurances on delivery for the sake of saving a tiny amount on the unit cost?’

With its global manufacturing operation and capacity, Swiss-based SFS intec has invested significantly in the past four years to develop a technologically advanced logistics management system which enables it to deliver these superior standards. In a highly competitive market, this technology is helping to guarantee continuity of supply for window and door makers, in turn providing an added assurance that they can fulfil long term partnering contracts.

Contact: Mick Maddison
Tel: 0113 208 5500

Volkswagen Commercial Vehicles is committed to providing the highest level of service to van operators and is investing heavily in its national network of Van Centres to achieve this.

The latest addition to the network of over 80 dedicated Van Centres is the Volkswagen Van Centre (West Yorkshire), which opened for business at the end of last year, and was officially opened on 24th February by Dr Bernd Wiedemann, Chief Executive Officer of Volkswagen Commercial Vehicles. Situated just off the M62 at junction 26 - the Cleckheaton turn-off - the Volkswagen Van Centre (West Yorkshire) occupies 2.3 acres and is the largest dedicated van centre in the UK.

Costing £2.3 million, the Volkswagen Van Centre (West Yorkshire) offers the region's van users state-of-the-art facilities. The workshop has 12 service bays and is fully equipped with the latest diagnostic and servicing systems. The modern showroom displays three vehicles and has a customer hospitality area where customers can discuss their requirements in comfort over a cup of coffee. Furthermore, there is parking space for over 100 customers' vehicles.

From left to right - Andrew Caygill (Sales Director); Ian Eastwood; Brian Couldwell; Andrew Umpleby; Jason Bradley; Mark Wheelwright.

The Van Centre employs 26 highly experienced members of staff, from qualified technicians carrying out servicing and maintenance, to sales personnel who are able to offer invaluable advice to ensure customers get the vehicle that most suits their needs.

Customers can inspect and test-drive the full range of award-winning Volkswagen vans comprising the Caddy, Transporter and LT. Other products and services available include fleet sales; parts and accessories; Class 4 and 7 MOT; van rental; specialist conversions; courtesy vehicles; and a range of attractive finance options.

Andrew Caygill, Sales Director at the Van Centre, said, 'Since the Van Centre opened there's been a huge amount of interest from both fleet operators and individual owners, and already our order book is looking very healthy.'

The investment Volkswagen Commercial Vehicles has made in recent years is certainly paying dividends, with record UK sales being announced for the fourth consecutive year. The improvement on the 2003 figures represents an increase of 27.2 per cent.

To find out more about Volkswagen Commercial Vehicles' versatile range of vans call the Volkswagen Van Centre (West Yorkshire) on 01274 863777. Alternatively, visit http://www.volkswagen-vans.co.uk.

The OFT welcomes the judgments given recently by the Competition Appeal Tribunal (CAT) on the appeals brought by Apex Asphalt and Paving Co Ltd and Richard W Price (Roofing Contractors) Ltd.

The CAT upheld the OFT's decision that the two roofing contractors had, along with seven others, agreed to fix the prices by collusive tendering of repair, maintenance and improvement services for flat roofing in the West Midlands.

The CAT upheld both the findings in the OFT decision and the fine imposed on Apex (£35,922); it reduced the fine in the case of Richard W Price (from £18,000 to £9,000). It confirms that the parties did engage in collusive tendering.

Welcoming the judgment, John Vickers, OFT Chairman, said:
'Evidence on cartel activity in the construction sector – from leniency applicants and site visits – is mounting. The West Midlands roofing case is likely to be the first in a series of construction cartel cases.

'This cartel rigged bids – so raised prices – on contracts relating to a number of schools, a community library, a shopping centre and a car park. The victims were council tax payers in Dudley and the West Midlands.'

Masco Corporation Business and Financial Highlights

Masco Group net sales from continuing operations for the first quarter increased 10 percent to over $3.0bn, primarily from organic growth, with North American sales increasing eight percent and International sales increasing 17 percent. In local currencies, International sales increased seven percent compared with the fourth quarter of 2003. The Company’s sales growth benefited from market share gains, new products and positive economic conditions impacting the new home construction and home improvement markets.

In accordance with SFAS No. 144, ‘Accounting for the Impairment or Disposal of Long-Lived Assets,’ the Company has accounted for the 2003 dispositions (Baldwin Hardware, Weiser Lock and The Marvel Group), the 2004 dispositions of Jung Pumpen, The Alvic Group, Alma Kuchen, E. Missel and SKS Group and the remaining 2004 planned dispositions of certain other European businesses as discontinued operations.

• Sales of assembled cabinets, installation services, windows and plumbing products were particularly strong in the quarter.

• Income from continuing operations for the quarter was $247 million (excluding a non-cash, after-tax charge of $141 million for goodwill impairment pertaining to certain European operations) compared with $196 million (excluding a non-cash, after-tax charge of $42 million for goodwill impairment pertaining to certain European operations) for the fourth quarter of 2003. Reported income from continuing operations, including the goodwill impairment charges, was $106 million and $154 million for the fourth quarter of 2004 and 2003, respectively.

• Excluding the charges for goodwill impairment in both periods, earnings from continuing operations were $.55 per common share for the fourth quarter of 2004 and $.41 per common share for the fourth quarter of 2003.

• Including the charges for goodwill impairment in both periods, earnings from continuing operations were $.23 per common share for the fourth quarter of 2004 and $.32 per common share for the fourth quarter of 2003.

• Expected results for the fourth quarter of 2004 were adversely impacted by lower than anticipated margins in the installation and other services segment as well as certain other businesses principally resulting from the time lag in implementing price increases related to material cost increases. As previously communicated the Company has experienced substantial cost increases for insulation over the past 16 months and significant cost increases as well for non-insulation products that the Company installs. Historically, the Company has generally been able to increase its selling prices to reflect certain material cost increases. However, the Company has not yet been able to increase selling prices to offset all such cost increases contributing to a decline in operating profit margin. In developing the previous fourth quarter guidance it was anticipated that margins would be in the range of 14.0 to 14.5 percent versus the 12.0 percent actually achieved in this segment.

• Results for the fourth quarter of 2004 benefited from pre-tax gains from the sale of financial investments of $40 million or $.06 per common share after tax partially offset by a pre-tax impairment charge of $21 million or $.03 per common share after tax related to the Company's investment in Furniture Brands International common stock. Results also benefited from a reduction in the Company's tax rate related to the utilisation of foreign tax credits generated in the fourth quarter on distributions of foreign earnings which benefited earnings by $.02 per common share.

• In the fourth quarter of 2004, the Company repatriated cash related to accumulated earnings from certain of its foreign subsidiaries to the United States of approximately $500 million.

• The Company previously announced, in the first quarter of 2004, the planned disposition of several European businesses that are not core to the Company’s long-term growth strategy. During the fourth quarter of 2004, the Company completed the additional sale of three of these businesses: Alma Kuchen, E. Missel and SKS Group.

• Sales to key retail customers in the quarter were comparable to the fourth quarter of 2003, partially reflecting the impact of adverse weather in certain parts of the country, which contributed to relatively slow sales of architectural coatings. The Company's other distribution channels experienced strong growth in the fourth quarter of 2004.

• Sales increases by segment, which were substantially all organic growth, in the 2004 fourth quarter versus the 2003 fourth quarter were:

* Cabinets and Related Products sales increased 12 percent;
* Plumbing Products sales increased 9 percent;
* Installation and Other Services sales increased 12 percent;
* Decorative Architectural Products sales increased 2 percent; and
* Other Specialty Products sales increased 9 percent.

• Gross margins were 29.7 percent in the fourth quarter of 2004 compared with 30.8 percent in the fourth quarter of 2003. Operating profit margins as reported were 7.1 percent in the fourth quarter of 2004 compared with 12.1 percent in the fourth quarter of 2003. Excluding non-cash, pre-tax charges for goodwill impairment of $168 million in the fourth quarter of 2004 and $48 million in the fourth quarter of 2003 and pre-tax income related to the Behr litigation of $1 million in the fourth quarter of 2003, operating profit margins were 12.6 percent in the fourth quarter of 2004 compared with 13.8 percent in the fourth quarter of 2003.

• Results in the fourth quarter of 2004 include the positive impact of higher sales volume, which was offset by the negative effect of previously communicated increases in a number of operating expenses, including such items as certain commodity, freight, energy and other petroleum-based products, as well as costs and expenses associated with complying with the new requirements of the Sarbanes-Oxley Legislation.

Full-Year 2004
• Net sales from continuing operations for 2004 increased 14 percent to $12.1 billion compared with $10.6 billion for 2003. North American sales increased 13 percent and International sales increased 21 percent. In local currencies, International sales increased 10 percent.

• Excluding the charges for goodwill impairment, earnings from continuing operations for 2004 were $2.35 per common share, compared with the Company's most recent guidance of $2.31 to $2.35 per common share, and $1.70 per common share for 2003.

• For the full-year 2004, income from continuing operations was $930 million compared with $790 million in 2003, including non-cash, after-tax charges for goodwill impairment of $141 million and $47 million in 2004 and 2003, respectively. Earnings from continuing operations were $2.04 per common share compared with $1.61 per common share in 2003, including the non-cash, after-tax charges for goodwill impairment.Ý Sales of the Company’s products continued strong in 2004 with low double- digit increases in internal sales growth of assembled cabinets, installation services, faucets, architectural coatings and vinyl and fibreglass windows and doors.

• For the full-year 2004, key retailer sales were $3.7 billion, an increase of approximately 10 percent over $3.4 billion for 2003.

• Sales increases by segment, which were substantially all organic growth, for 2004 versus 2003 were:

* Cabinets and Related Products sales increased 14 percent;
* Plumbing Products sales increased 14 percent;
* Installation and Other Services sales increased 15 percent;
* Decorative Architectural Products sales increased 11 percent; and
* Other Speciality Products sales increased 17 percent.

• Gross margins were 30.8 percent in 2004 compared with 30.7 percent in 2003. Operating profit margins as reported were 13.0 percent in 2004 compared with 14.0 percent in 2003. Excluding non-cash, pre-tax goodwill impairment charges of $168 million in 2004 and $53 million in 2003, income related to the Behr litigation of $30 million in 2004 and $72 million in 2003, accelerated benefit expense of $16 million in 2003 and the European charges of $54 million in 2003, operating profit margins were 14.1 percent in 2004 compared with 14.5 percent in 2003.

• Full-year 2004 gross margins and operating margins include the effect of:

- Increased commodity costs which were not offset due to the delay in implementing selling price increases;
- Increased energy and freight costs;
- Stronger foreign currencies resulting in increased International sales which have lower margins;
- Product mix and relatively higher sales in segments with somewhat lower margins;
- Costs associated with complying with the new requirements of the Sarbanes-Oxley Legislation; and
- Increased expense associated with stock options.

2005 Outlook
• The Company believes that it will achieve further organic sales growth in 2005, and, based on current business trends, believes that it will achieve record sales and earnings for 2005 with full-year earnings from continuing operations expected to be at an all-time record in a range of $2.40 to $2.50 per common share.

• The Company's guidance is based on housing starts declining five percent from 2004 levels, share repurchases of a minimum 12 million common shares, modest margin improvement reflecting selling price increases offsetting rising commodity costs and anticipated income from the sale of financial investments. The guidance also assumes no further significant commodity cost increases.

• The Company experienced greater-than-expected commodity cost increases in late 2004 which reduced expected gross margins in the fourth quarter. These higher costs are continuing in 2005 and will likely have an adverse impact on first half results. The Company is implementing additional price increases on a number of its products and believes by the end of the second quarter that most of these commodity cost increases will be largely offset.

The Company believes that the impact of these recent cost increases and shortages of certain materials will reduce earnings by approximately $.05 to $.10 per common share in the first half of 2005, largely in the first quarter.

Web: http://www.masco.com

Scapa Group plc has completed the buy out of its Chinese joint venture partner Mei Wei Holdings Ltd. for £345,000 (5 million Hong Kong Dollars). The joint venture, Scapa (Hong Kong) Ltd was established in February 2000 with Scapa having a 75% shareholding and Mei Wei 25%. The buy out will enable Scapa to accelerate plans for increased manufacturing capabilities within China to meet the requirements of an increasing broad range of speciality tape end markets in the region.

The consideration was payable in cash in Hong Kong dollars with 20% of the consideration deferred until 30th April 2005 subject to the performance of certain warranties by the vendor.

Commenting on the buy out Tony Watson Chief Executive of Scapa said: 'This is a further important step in expanding Scapa’s presence in China. Over the past 5 years we have created a firm foundation for profitable growth in Asia and have a strong core of customers. This buy out will enable Scapa to establish additional manufacturing capabilities within China to meet the demands of this rapidly growing market for specialist technical tapes and cable compounds.'

Fiscal 2004: Linde Increases Operating Result by 14.9% and Proposes Dividend Increase

On February 28th the Executive Board of Linde AG completed the annual financial statements for the company and the Group. The Supervisory Board is expected to give its approval on March 14th.

The key figures for the group for fiscal year 2004, which have already been verified by the auditors, are as follows: Sales were up 4.8% to 9.421 billion (2003: 8.992 billion). Linde's operating profit (EBITA) also grew by 14.9% to 785 million (2003: 683 million). Earnings before income taxes (EBT) climbed from 287 million to 518 million, with net income totaling to 274 million (2003:108 million). Earnings per share rose accordingly to 2.30 (2003: 0.91).

The performance results for the individual divisions are as follows: Linde Gas boosted its EBITA to 640 million (2003: 598 million). Linde Engineering's EBITA rose to 69 million (2003: 46 million). The figures for Linde Engineering are based on a new allocation method. The Material Handling division increased its EBITA to 191 million (2003: 156 million).

On the basis of these overall positive developments, the Executive Board at Linde AG has submitted a proposal to the Supervisory Board, that dividends are to be increased from 1.13 per share to 1.25 per share, and that this should be presented for resolution at the Shareholders' Meeting.

Linde will present detailed information on fiscal year 2004, and on developments in individual divisions at the results press conference on March 22nd.