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Glasstec 2004: Same Visitor Numbers as 2002 but More Came From Outside Germany

The world's largest international glass exhibition closed its doors last Saturday, with 'excellent results', according to the organisers. Some 1,080 exhibitors took part, of which over 50 were from the UK, plus a further 170 associations, scientific institutions and representatives from the skilled craft trades, on net exhibition space of 65,800 m2. Around 54,000 visitors from 81 countries came to the show: the same as in 2002, but the number of international visitors rose significantly: around 60% of visitors came from outside Germany (2002: 56%).

Exhibitors especially stressed how very well qualified visitors were - more than 70% were top managers with decision-making powers. This was also made clear both by the many deals concluded at the fair itself and by the talks held there paving the way for promising new business relationships.

Commenting on the event President of the glasstec advisory council Siegfried Glaser said: 'A very positive mood prevailed, especially amongst machinery manufacturers, many of whom qualified glasstec 2004 as the best in years. Backing this up they said they had received many positive enquiries and had concluded many deals.'

Approx. 54,000 specialist visitors from 81 countries came to the fair on the Rhine; this meant glasstec was able to match the good results it posted at the previous event in 2002. The number of international visitors once again rose significantly over glasstec 2002: around 60% of visitors came from outside Germany (at glasstec 2002 the figure was 56%). 'We far exceeded our fair objectives on each day of the fair. We are up 50% on the targets we set ourselves,' added Christian Willers from Saint-Gobain also summing up the positive assessment of glasstec by the glass industry.

At glasstec 1,080 exhibitors plus a further 170 associations, scientific institutions and representatives from the skilled craft trades presented innovative solutions and products on net exhibition space of 65,800 m2. The interest of visitors at glasstec was primarily focused on glass processing and finishing (48%), glass production (40%), glass products and applications (37%) as well as on tools, spare and wear parts (30%). 20% of visitors were especially interested in solar technology.

'This is the largest and most comprehensive dedicated glass fair around,' said David Beck, Sales Manager at Grenzebach, confirming Messe Düsseldorf's success. Of particular note was the strong interest (24%) shown in the new fields at this year's glasstec - laser technology and special thin glass (primarily display glass). 'The focus on these new technologies was extremely well received and they should become a fixed part of the range at glasstec,' said Siegfried Glaser.

Also attending the fair with an extended range was the special show 'glass technology live'. In particular, it was the transparent design of the attractive exhibition and its extended range (alongside facades and a unique solar exhibition it also included interior construction using glass) that proved to be magnets for the remarkably high contingent of visitors from architect's and engineer's offices. 'The special exhibition with its accompanying symposium was again received with incredibly great interest. Solar technology is now increasingly being used, particularly in façade construction. We took this trend into account both in the exhibition and the symposium programme. Without a doubt glasstec is a shop window on innovation,' said Prof. Stefan Behling, Head of the Institute for Structural Design at the University of Stuttgart and partner at Sir Norman Foster's architects' bureau in London. 'This year, for the first time, we decided to rent a stand at the fair because glasstec is the ideal meeting place for our target group architects, not purely on the basis of the glass technology live show,' said Albert Müller, architectural consultant at Gartner, one of the largest façade builders worldwide.

For all those involved glasstec 2004 was a complete success. 'Given the economic climate and the rather subdued mood prior to the fair this result is particularly significant. It was pleasing for all those involved to see how good visitor response was both in terms of quality and quantity. With its complete range glasstec was able to provide an international hub for the comprehensive exchange of know-how, thereby confirming its position as a leading fair in this sector,' said Marianne Hohenschutz, Project Coordinator at glasstec 2004, summing up the trade fair.

The next glasstec event will be held in Düsseldorf from 24 to 28 October 2006.

Alcoa Responds to Below-Market 'Mini-Tender' Offer

Alcoa announced yesterday (15th November) that it has received notification of an unsolicited 'mini-tender' offer being made by TRC Capital Corporation, a Toronto-based company, to purchase up to 3.5 million shares of Alcoa common stock, representing approximately 0.402 percent of Alcoa's outstanding shares, for a price of $32.00 per share in cash. The closing price of Alcoa shares on the New York Stock Exchange on November 8th, 2004, the trading day before TRC commenced its offer, was $33.32 per share.

Alcoa does not in any way recommend or endorse TRC's mini-tender offer and expresses no opinion as to whether Alcoa shareowners should tender their shares in the mini-tender offer. Alcoa is not associated with TRC, the offer or the offer documentation.

Alcoa shareowners are cautioned that TRC can extend the period of time during which the offer is open, thereby possibly delaying payment for shares of Alcoa stock tendered in the offer beyond the currently scheduled expiration date of December 9th, 2004.

The TRC offer is also subject to a number of conditions, including TRC obtaining financing. There is no assurance that the conditions to the offer will be satisfied.
Alcoa understands that TRC has made many mini-tender offers for the shares of other companies. Mini-tender offers are offers to buy less than 5 percent of a company's stock. The Securities and Exchange Commission (SEC) has posted on its Web site an investor alert regarding mini-tender offers, cautioning that such offers 'have been increasingly used to catch investors off guard.' Alcoa shareowners should be aware that many of the SEC's tender offer rules do not apply to mini-tender offers.

To read more about the risks of mini-tender offers, please review the alert at: http://www.sec.gov/investor/pubs/minitend.htm.

Alcoa shareowners who may have tendered their shares are advised that, according to TRC's offering documents, they may withdraw their shares by providing written notice to TRC in accordance with the offering documents prior to the expiration of the offer. According to the offering documents, TRC's offer will expire at 12:01 a.m. on December 9th, unless the offer is extended by TRC.

Alcoa advises stockholders to consult their financial advisors concerning this offer and to obtain current market quotations for their shares.

Web: http://www.alcoa.com

New Man at the Top for Bennett Glass and Frames

Phil Williams has been appointed senior director of the Hull-based business Bennett Glass and Frames.

Aged 42, Phil brings a wealth of experience in engineering and manufacturing to the post.

Bennett Glass dates back to the 1860s and is one of the oldest established glazing businesses in the Yorkshire and Humber area.

The business changed its name to Bennett Glass and Frames a year ago after merger with FrameTec – a frame manufacturer which had been operating as a sister company for the previous two years.

'The business has done extremely well for the last 12-18 months and that has increased turnover by about 30 per cent,' said Phil.

'There is certainly the potential for that to continue; it’s a case of doing more of the things we’ve been doing and also moving into some new areas, both geographically and in terms of products.'

The company opened a Grimsby office in March and the early signs are very encouraging. The aim now is to expand towards North and West Yorkshire.

'We don’t need to limit ourselves to the immediate Humber area,' he said.

'We can certainly go as far as York and Leeds and perhaps further along the M62 corridor. I have the contacts and the knowledge of the markets in those areas.'

Contact: Phil Williams
Tel: 01482 820820

Easycare Joins the Window Store Network

Epwin Group has announced the purchase of two successful trade counters, trading as Easycare and based in Brighton and Eastbourne. The acquisition was finalised on September 10th.

Easycare and its seven employees will become part of the existing 13-strong Window Store network across southern England and Wales selling a wide range of plastic building products to trade customers.

'This acquisition allows us to expand our trade counter operations along this part of the south coast and strengthen our already considerable presence in this sector.' commented Jim Rawson.

'I hope you will join me in welcoming Easycare and its customers to the Group and wishing them every success for the future.'

Edgetech Fits the Bill

‘With credentials as a substantial company with an experienced management team, the stage was set for New World Developments’ ambition to manufacture the best ever GRP composite door’. said Sales Manager Alex Moore who describes the process which includes Edgetech’s high performance spacer bar.

‘We knew that fabricators were looking for a more secure, attractive and longer-lasting domestic doorset than any existing product’ says Alex ‘but because we wanted to have the best possible design, it took us three years of extensive development work to get to our launch at Glassex and Interbuild.

‘Working with industrial designers, it was decided that a double-skinned GRP door was the way forward. Designing a double GRP skin was a critical quality decision and although more time consuming and expensive to produce, its advantages have paid off.’

New World wanted the new door to have ‘kerbside appeal’. ‘We examined every aspect of a door and improved it. For example, by using New World’s unique patent pending glazing system, developed with the help of Edgetech, we were able to achieve a triple glazed door which was free from the usual unsightly fixings associated with glazing cassettes. Our triple glazed system allows us to offer an exclusive range of glazing designs where the lead and film are protected from the elements as the decorative work is in the centre of our triple glazed unit. This also makes cleaning much easier’ explains Alex.

‘Apeer is manufactured in seven solid and eight glazed styles and is available in seven colours. All the hardware is incorporated and with a wide range of door and frame sizes, all the fabricator has to do is fit the integral door frame into the opening. A range of sidelight and fanlight designs with an arched head are also available. Here the Edgetech Super Spacer bar fits the bill perfectly!’

Tel: 02476 705570

DuPont Announces Price Increase on Butacite® PVB

DuPont Glass Laminating Solutions has announced a price increase of $0.29 per square metre (Euro 0.24 /m2) on all grades of Butacite® polyvinyl butyral interlayer. The new pricing will be applied to supply agreements effective January 1st, 2005.

‘Our investments in facilities and research have resulted in improved offerings to meet the changing needs of the automotive and construction industries. These offerings create significant value added opportunities and productivity improvements for our customers and the glass industries’ end users.’ stated Luigi Robbiati, Vice President of Glass Laminating Solutions. ‘This price increase is necessary to continue investing in our business. Raw material prices have escalated rapidly at a time when demand for our products is exceeding supply.
Reinvestment economics must be improved to insure our future ability to reliably supply and service our customers in a growing market.’

DuPont Glass Laminating Solutions provides materials, services and innovations for a better, safer world. The business operates within the DuPont Packaging and Industrial Polymers strategic business unit, part of DuPont's $5.3 billion Performance Materials growth platform.

DuPont is a science company. Founded in 1802, DuPont puts science to work by creating sustainable solutions essential to a better, safer, healthier life for people everywhere. Operating in more than 70 countries, DuPont offers a wide range of innovative products and services for markets including agriculture, nutrition, electronics, communications, safety and protection, home and construction, transportation and apparel.

Rhodia Silicones Announces Price Increase for all its Products

Effective October 1st 2004, Rhodia Silicones increased prices for all its products by 8 to 10% to offset continuous rising costs of energy, transport and more recently raw materials.

'Rhodia Silicones has worked pro-actively to improve productivity, reduce manufacturing and operating costs over the past years while operating at the highest industry standards. All these efforts to drive productivity programmes are inadequate to overcome the cost pressure after several years of decreasing prices.' says the company.

'We will work closely with our customers to eliminate all unnecessary costs while supporting their growth with innovation and technical services.'

Rhodia Silicones is an integrated silicone producer with world leading positions in such markets as, moulding applications (in health care, arts and construction), automotive industries, paper release coatings (used in packaging, labels or adhesives) and textile coating (airbags, technical fabrics, lingerie).

Rhodia is a global speciality chemicals company recognised for its strong technology positions in applications chemistry, speciality materials & services and fine chemicals. Partnering with major players in the automotive, electronics, fibres, pharmaceuticals, agrochemicals, consumer care, tyres and paints & coatings markets, Rhodia offers tailor-made solutions combining original molecules and technologies to respond to customers' needs. Rhodia subscribes to the principles of Sustainable Development communicating its commitments and performance openly with stakeholders. Rhodia generated net sales of €5.4 billion in 2003 and employs 23,000 people worldwide. Rhodia is listed on the Paris and New York stock exchanges.

Solutia Implements Price Increase For Saflex® PVB as Capacity Tightens

Solutia Inc., the supplier of films for laminated glass, confirmed on October 11th that the continued growth in demand for polyvinyl butyral (PVB) interlayer has accelerated the need to invest in new capacity in order to meet its customers’ future needs and assure supply reliability. To support those investments, the company is in the process of implementing a 29 cent per square meter price increase for its full range of Saflex® brand PVB products.

At the same time as the need for investment in new capacity, the prices of key raw materials (PVOH, VAM, etc.) used in the production of PVB products have continued to rise while simultaneously supplies of these same materials have become increasingly tight. Saflex PVB is used in the production of high quality laminated glazing for automotive, architectural and specialty applications.

'Solutia remains strongly committed to the announced price increase as a means of maintaining the most reliable service and certainty of supply for our customers. Customers’ demand for PVB products has dramatically increased year on year. The announced price increase allows Solutia to reinvest in capacity to meet these new volume challenges,' said Mitch Pulwer, General Manager, Solutia Laminated Glazing Interlayers.

Mr. Pulwer further commented that: 'raw material costs have dramatically increased. Adding new capacity and keeping up with raw material price increases will continue to be challenges into the foreseeable future. Solutia is very encouraged by the positive response that we have had so far in completing new contracts reflecting the announced increase in price. This illustrates that our customers are sensitive to market and industry needs'.

About Solutia
'Solutia uses world-class skills in applied chemistry to create the highest quality, most reliable value-added solutions for customers, whose products improve the lives of consumers every day. Solutia is a world leader in performance films, producing Saflex® and Vanceva™ brand polyvinyl butyral interlayers for laminated glass in automotive, architectural and residential applications. Solutia is also a leader in process development and scale-up services for pharmaceutical fine chemicals; specialties such as water treatment chemicals, heat transfer fluids and aviation hydraulic fluid and an integrated family of nylon products including high-performance polymers and fibres.'

Email: mailto:gwwils@solutia.com

Wacker Silicones: Price Adjustment for Sealants

Effective November 11th, Wacker Silicones has increased sealant product prices worldwide by an average of 15 percent. Certain segments will experience larger price hikes. Wacker Silicones has commenced negotiations with customers to this effect. The measure enables further worldwide expansion of production capacity and supports Wacker Silicones’ extensive service portfolio in the Residential Sealants segment. Productivity boosts and comprehensive cost-saving measures will be introduced to provide a long-term cushion against ever-rising energy and raw materials prices. These activities will continue to ensure the reliable, unrestricted supply of Wacker Silicones sealants worldwide.

Wacker Silicones is a supplier of silicone-based solutions that combine products, services and conceptual approaches. Wacker Silicones is a leading silicone producer with a portfolio of over 3,000 products. With extensive facilities and expertise as a solutions provider, Wacker Silicones actively assists its customers’ efforts to maximise innovation, fully exploit global markets, boost productivity, and optimise business processes to reduce overall costs. Collaboration involves all customer business processes, including:

• professional innovation management,
• joint development of new products and innovative production methods,
• lab support during the formulation and approval stages that customer products undergo, and during production scale-up, and
• unique supply chain and packaging solutions that simultaneously lower manufacturing costs and accelerate production processes.

Silicones are the basis of materials with highly versatile product properties and almost unlimited uses. Applications include the automotive, construction, chemical, electrical and electronics industries, cosmetics and consumer care, metal processing and mechanical engineering, paper, textiles and pulp.

Roof-Maker - Wonder Glass the Future!

With major polycarbonate suppliers warning of possible resin shortages next year, it's worth conservatory installers considering alternative glazing for their conservatory roofs, according to Roof-Maker Ltd. Glass has always been the traditional choice for the summer house but clear glass invites soaring temperatures in summer and bronze or normal anti-sun glasses can result in poor light transmission, giving the room a dull overcast effect.

'Recently glass manufacturers are starting to offer commercial type performance glass for domestic use but we are still way behind on bringing this technology to the conservatory market. After an initial sampling period on the re-flex glass product a large chunk of our customer base made re-flex standard on all their glass roof options. The product tackles the twin issues of overheating from solar heat in summer and heat loss in winter on those cold frosty nights. We have seen a steady rise of enquiries for glass in our roof kits over the past 18 months'. said Scott Nicholas. Managing Director of Roof-Maker Ltd the Leicester based company.

'Performance glasses which combine both solar and low e ability have been the most popular as home owners realise the improvement in comfort they will experience from choosing the correct product. Noise levels from rain on polycarbonate have driven customers mad this year and an inability to see natural sky clouded or not has meant that polycarbonate never gets a look in on quality installations. If we supply a portal frame swimming pool enclosure, the architect is not going to spec a low cost product for such high budget projects. The company can supply re-flex glass along with global roof kits on a 7 day delivery lead time.'

Email: mailto:roofmaker@btconnect.com

New Planet Appears on Horizon in Exeter

Exeter’s Classic Conservatories & Windows has a new name – Planet Devon. As one of the area’s leading conservatory installers, Classic has now become part of Planet Group Ltd - with a £200,000 investment in a new showroom located on Trade City, Apple Lane in Exeter. Classic’s showroom at Greenfingers Garden Centre on Pound Lane in Exmouth will also become part of Planet.

Planet says it is the UK’s largest installer of conservatories and Martin Smith who has taken his three-year old Classic Conservatories & Windows business into Planet as a franchise says it can only be good news for local people who want the best in conservatories, windows and doors.

‘We built up Classic to be a successful business and have hundreds of delighted customers. In a recent survey by the Insurance Warranties Association (IWA) we achieved a 100 per cent customer satisfaction rating – something that is extremely rare,’ says Martin Smith. ‘By becoming part of Planet we have an even greater competitive edge – we are a local company but with a strong national backing and infrastructure.’

Martin, who has lived in Exmouth all his life - apart from seven years ‘surfing the waves’ in Cornwall - has been in the industry for over 22 years. He believes joining Planet will bring the ‘best of both’ to his business, whilst still protecting his existing client base.

‘Only Planet manufacture Planet conservatories, windows and doors and we can now offer Planet’s revolutionary new roofing system which is the most heat-efficient on the market and has been designed to meet the requirements of the government’s new environmental regulations,’ he adds.

Planet Devon is the 20th showroom in Planet’s network of outlets across the UK and is the fourth new showroom to open in less than five months with three new showrooms having opened at Tipton (near Birmingham), Leamington Spa and Banbury (near Oxford).

The 4,000 sq. ft. new showroom features an impressive display of six fully built, lifestyle themed conservatories along with a window and door gallery.

One of the conservatories has a mural covering the whole of one wall, which has been painted by Martin’s wife Samantha who is also involved in the business. The mural is of a sunset beach scene and Samantha’s work has previously appeared in publications such as Devon Life.

The new showroom also features a new and exclusive range of classical and contemporary furniture.

Commenting on Planet’s latest new showroom opening, chairman Dean St John said: ‘The south coast is another key area for the business and the new showroom demonstrates how committed we are to providing the region’s homeowners with the finest choice of conservatories, doors and windows in the market. We’re delighted to welcome Martin, Samantha and their team to Planet. They have a wealth of experience and expertise to bring to Planet.’

Planet Group Ltd is forecasting a £70 million turnover for 2004/05 and employs over 500 staff at its headquarters and manufacturing facilities at Bamber Bridge and Accrington near Preston in Lancashire.


Customers can contact the Exeter showroom on Tel: 01392 360612. The full address of the showroom is Unit 29B, Trade City, Apple Lane, Exeter EX2 5GL. Customers can contact the Greenfingers showroom on Tel: 01395 276060 and the full address is Greenfingers Garden Centre, Pound Lane, Exmouth EX8 3JT or email: mailto:planetexeter@aol.com.

Vale Windows Expands to Meet Demand

Plastmo customer Vale Windows Co Ltd has undertaken a major initiative to expand its PVCu manufacturing programme to a dedicated new factory in Stockport, Greater Manchester.

The decision comes eight months after the company relocated its manufacturing headquarters to a new 25,000 sq ft facility in its Mansfield, Notts homebase within a £500,000 investment programme.

Vale's expansion to the North West now injects its considerable manufacturing expertise and trading success into the Greater Manchester trade sector.

The full range of Plastmo products,including the new Charisma Vertical Sliding Window and the recently introduced Vogue profile suite will now be produced at Stockport as well as Mansfield.

The new Stockport facility consists of sales offices and factory within a 20,000 sq ft complex at a total investment,including the latest Elumatic production equipment, of £450,000.

The company, which gained Kitemark 7412 certification and ISO 9002 on its range of 62mm Plastmo System Index windows last year, will employ up to 50 operatives within the next 24 months.Two industry experts, John Hesketh and Andrew Lomax have been appointed as Head of Sales and General Manager, to head the new operation.

Vale's MD Brian Hackett comments 'Plastmo's national success,combined with our regional success will ensure that the Plastmo name will become the benchmark of prime product quality and versatility in our new sales area.The combination of Mansfield and Stockport now gives us a base that offers the space and logistics to launch into new product areas'

Synseal Automates Process of Dealing with 1500 Faxes Per Day

With the success of Synseal Extrusions Ltd’s conservatory roofs, the company says it is dealing with in the region of 1500 faxes per day and 750 phone calls.

‘And that’s just incoming!’ explains Nick Dutton, Sales and Marketing Director of Synseal. ‘Dealing with this number of people every day, we wanted to make sure our customer service remained at its usual high standard. That’s why we’ve created and introduced a new fax service. When customers fax our conservatory department now, our server automatically transforms this into an e-mail and directs it to the Office Manager’s desk. From here it is distributed to the relevant person. Not only that, at this point customers will automatically receive a return fax which will acknowledge Synseal has received their fax, give them the name of the person dealing with their enquiry and the direct dial number of that person, and print a reduced version of the fax confirming the reference. This system will keep customers informed on the status of their enquiry, and if they don’t receive a confirmation, they know we have not received their fax.

‘We have also upgraded this system to automatically fax all quotations and order confirmations from the computers in the conservatory department. This benefits customers because it means we can respond much quicker than having to print off the document and send it through to join the fax queue.’

Tel: 01623 443 200
Web: http://www.synseal.com

Safety First as FGI wins Major Awards

A radical rethink of the health and safety culture at Float Glass Industries (FGI) has been rewarded with the company being announced as winners in the three categories it entered at the Glass Charter Health & Safety Awards 2004. At the Awards Presentation at the British Glass Annual Health & Safety Conference in Birmingham last week, the Manchester-based company was presented with awards for Best Safety Improvement, Best Health & Safety Professional and Best Nominated Director for Health & Safety, by Hugh Robertson, Commissioner for the Health & Safety Commission.

The improvement in the health and safety regime at FGI clearly impressed the judges. In 2001, the Directors of Float Glass Industries had recognised that its record was not as good as it should have been, and in less than two years has turned this round so that it has become a shining example of how safety procedures should be implemented in a potentially hazardous industry. In fact, it has been so successful that the Health & Safety Executive is now citing Float Glass Industries as a model for other companies to follow.

 
Operations Director Mike Thompson (left), who won the award for Best Nominated Director for Health & Safety, and Health & Safety Manager Ron Hindle, who won an award as Best Health & Safety Professional

The whole company was involved in the culture change, but two people who have been instrumental in this are Operations Director Mike Thompson, who won the award for Best Nominated Director for Health & Safety, and Health & Safety Manager Ron Hindle, who won an award as Best Health & Safety Professional.

The improvement at FGI involved a complete revamp of virtually every aspect of Health and Safety, starting with a full re-assessment of all activities within the company. Many major changes were made with the help of the Glass Charter in the year 2001/2002. Ron was appointed to the role of Health & Safety Manager and, with Mike, implemented a full and long process of risk assessment for every task on the shop floor and the transport department. It also led to a complete rewrite of the Company Health & Safety Policy, and a root and branch examination of the company’s safety equipment, resulting in completely changing every item of PPE.

Roy Offland, Chairman and Joint Managing Director at Float Glass Industries, commented, 'These awards are a marvellous acknowledgment of the major steps that FGI has taken in the field of health and safety. Ron, Mike and the whole team have worked tirelessly to achieve new standards of health and safety, and we are extremely proud of this. The standards set by FGI are now a model for other companies to follow.'

Glass Charter Health & Safety Awards are organised by the British Glass Manufacturers’ Confederation. The theme of the British Glass Annual Health & Safety Conference 2004, held at Aston Villa FC, Birmingham, on 3 November, was 'Communicating Health & Safety – getting the message across'.

Tel: 0161 946 8000
http://www.floatglass.co.uk

Velux Acquires Thermo-Vu

Velux has signed an agreement to acquire Thermo-Vu Sunlite Industries, a producer of skylights based in Holtsville, USA. 'Thermo-Vu has a well-respected and extensive residential and commercial skylight line,' says Tim Miller, president of Velux America, Inc.

'The company is a strong leader in self-flashed products. Our product lines are complementary, and this acquisition increases our ability to provide the broadest skylight programme in the industry. In addition, it greatly expands our product offering for commercial applications in the Northeast region.

'Velux has long been a leader in the residential market,' Miller continues, 'and the Thermo-Vu acquisition represents another step in broadening its line for commercial, institutional and industrial buildings. 

'Additionally,' he notes, 'Velux has expanded its own lines and acquired Sun Tunnel in 2002. Velux plans to integrate the Thermo-Vu facility in Long Island, NY into its distribution network at the beginning of 2005, creating its sixth U.S. distribution center. With the transaction, dealers currently purchasing Thermo-Vu skylights will have access to the full range of Velux products'. 

Based in Denmark, Velux manufactures skylights and roof windows. Its U.S. operations are headquartered in Greenwood, SC, where it also operates a manufacturing facility.

Masco Corporation Reports Record Third Quarter and Increases Earnings Guidance for 2004

Masco Corporation reported on 2nd November that net sales from continuing operations for the third quarter ended September 30th, 2004 increased 12 percent, primarily from organic growth, to a quarterly record $3.2 billion compared with $2.8 billion for the same period in 2003. The Company's strong third quarter performance benefited from market share gains, new products and positive economic conditions impacting the new home construction and home improvement markets.

Income from continuing operations for the third quarter of 2004 was $289 million compared with $258 million for the same period in 2003. Earnings from continuing operations increased to a third quarter record of $.64 per common share compared with $.53 per common share for the 2003 third quarter.

The Company continues to experience better-than-expected sales performance so far in 2004, and, based on current business trends, believes that it will achieve record sales and earnings for 2004 with full-year earnings from continuing operations in a range of $2.31 to $2.35 per common share. This new guidance represents an increase from the previous guidance of $2.25 to $2.30 per common share. The Company anticipates that fourth quarter 2004 earnings from continuing operations will be in a range of $.50 to $.54 per common share, compared with fourth quarter 2003 earnings of $.32 per common share, which included a non-cash charge for goodwill impairment of $.09 per common share. The fourth quarter is seasonally one of the Company's lowest quarters in terms of sales and earnings.

The new earnings guidance includes the benefit of recent common share repurchases and continues to reflect increases in a number of operating expenses, including such items as certain material, freight, energy and insurance costs, as well as costs and expenses associated with complying with the new requirements of the Sarbanes-Oxley Legislation. The year's guidance also includes income related to the Behr litigation of $.04 per common share in the first nine months of 2004 (principally in the first half), but excludes any fourth quarter Behr litigation income (as such amounts cannot be predicted), any gains or charges for businesses to be divested, other possible unusual items and the impact of share repurchases subsequent to September 30th, 2004.

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 third quarter of 2004, the Company completed the sale of two of these businesses, Jung Pumpen in Germany and The Alvic Group in Spain. Total proceeds from the sale of these businesses were $191 million. The Company recognised a pre-tax, net gain on the disposition of these businesses of $108 million ($93 million or $.21 per common share, after tax).

In addition, the Company recognised an additional pre-tax charge of $31 million related to the remaining businesses held for sale due to lower-than-expected operating results as well as weaker-than-expected demand for the businesses that the Company is divesting (these items are included in discontinued operations). During the third quarter of 2003, the Company recognised a pre-tax gain from the sale of businesses aggregating approximately $91 million and also $6 million from the operating results of those businesses (aggregating $.12 per common share, after tax; these items are included in discontinued operations).

Including discontinued operations, net income for the 2004 third quarter increased to $359 million compared with $319 million for the 2003 third quarter, and earnings increased to $.80 per common share compared with $.65 per common share for the third quarter of 2003.

Headquartered in Taylor, Michigan, Masco Corporation is one of the world's leading manufacturers of home improvement and building products as well as a leading provider of services that include the installation of insulation and other building products.

Web: http://www.masco.com

Hunter Douglas Nine Months - 4.6% Higher Sales and 15.4% Higher Profits

Hunter Douglas, the world market leader in window coverings (Luxaflex®), and a major manufacturer of architectural products (Luxalon®) reports results for the first nine months of 2004.

Sales were EUR 1,306.1 million, 4.6% higher than EUR 1,248.4 million in the first nine months of 2003. The sales increase reflects 6.8% volume increase, 4.7% negative currency impact and 2.5% contribution from acquisitions net of divestments. All geographic regions had organic growth.

Europe accounted for 39% of sales, North America 48%, Latin America 4%, Asia 6% and Australia 3%. Window coverings were 89% and architectural and other products 11% of total sales.

Net profit was EUR 96.9 million, 15.4% higher than EUR 84.0 million in the first nine months last year. This increase was achieved despite EUR 7.6 million negative effect from the lower USD. Profits were higher in all regions.

Net profit per average outstanding common share was EUR 2.33, compared with EUR 1.99 for the first nine months of 2003, adjusted for stock dividends.

Capital expenditures in the first nine months were EUR 38 million compared with EUR 40 million during the same period last year, while depreciation was EUR 39 million.

The investment portfolio had a net market value per September 30th, 2004 of EUR 461 million. The portfolio's return in USD was 5.9%. Net investment income, after deduction of imputed interest, expenses and provisions was EUR 4.9 million. Management of these assets is delegated to a widely diversified group of independent managers.

Shareholder's equity was EUR 918 million, compared with EUR 871 million at the end of 2003.

Hunter Douglas had approximately 16,300 employees at the end of September 2004.

Third quarter 2004
Third quarter sales were EUR 439.3 million, 0.9% lower than EUR 443.2 million in the same period of 2003. The sales decrease reflects 4.2% higher volume, 3.9% negative currency impact and negative 1.2% contribution from acquisitions net of divestments. All geographic regions had organic growth.
Net profit in the third quarter was EUR 39.8 million, 16.0% higher than EUR 34.3 million in the third quarter of 2003. Profits increased in all regions. The increase was achieved despite EUR 1.6 million negative effect from a lower USD.

Sales by Region first nine months 2004

Sales in Europe increased by 2.0% to EUR 505 million, reflecting volume growth.

Sales in North America in USD increased by 14% to USD 765 million (5% in Euros to EUR 634 million), of which 9% volume increase and 5% contribution from acquisitions. Currency negatively impacted sales by 9%.

Sales in Latin America were EUR 48 million, 14% higher than in the same period last year. The sales increase reflects 19% volume increase and 5% negative currency impact.

Sales in Asia were EUR 74 million, 10% higher than in the comparable period last year. The sales increase reflects 16% volume growth and 6% negative currency impact.

Sales in Australia were EUR 45 million, 13% higher than in the same period last year, reflecting 8% volume increase and 5% positive currency impact.

Outlook
Economic conditions improved in most markets, while growth in North America slowed in the third quarter. Hunter Douglas remains optimistic for 2004 in view of the strong position of its products, distribution and finances.

Web: http://www.hunterdouglasgroup.com

Alcan Reports Strong Third Quarter Results

On 4th November Alcan Inc. reported third quarter income from continuing operations of US$176m, up from US$108m a year earlier. Operating earnings, which exclude foreign currency balance sheet translation effects and Other Specified Items, were US$276m, up from US$140m, a year earlier.

Financial Highlights
* Operating earnings for the third quarter of 2004 were US$0.74 per share, up US$0.32 or 76% year-over-year;
* Income from continuing operations was US$0.47 per share, up US$0.15 or 47% year-over- year;
* Cash from continuing operations for the quarter was US$712 million and free cash flow was US$376 million;
* Pechiney integration on track with US$55 million of synergy benefits realised to date.

'Alcan delivered another strong earnings and cash-flow performance, despite rising external costs and normal seasonal slow-downs,' stated Travis Engen, President and Chief Executive Officer. 'We executed well against our operating plans and made excellent progress on integration, synergy capture and the spin-off of Novelis. I am very pleased with the way our people are performing at all levels across the company.

'Looking ahead, we expect aluminium fundamentals to remain strong. Raw material and energy costs will likely pose challenges in the near-term, but we are confident that our operating discipline will continue to serve us well.'

Operating earnings for the third quarter of 2004 were up US$136 million from the comparable quarter of last year. The improvement reflected the benefits of higher prices, improved volumes, mark-to-market adjustments on derivatives and contributions from acquisitions and synergies. These were partially offset by higher energy-related costs, higher operating and administrative costs and the negative impact of stronger local currencies versus the U.S. dollar.

Compared to the second quarter of 2004, operating earnings increased by US$42 million, as the company benefited from higher prices, mark-to-market adjustments on derivatives, contributions from synergies and lower operating and interest costs. Partially offsetting these positive factors were lower shipments due to normal seasonal slowing, higher energy-related costs, higher administrative costs, reduced technology sales and the negative impact of stronger local currencies versus the U.S. dollar.

Income from continuing operations for the third quarter of 2004 included a primarily non-cash, after-tax loss of US$123 million, or US$0.33 per share, for the effects of foreign currency balance sheet translation, compared to an after-tax loss of US$7 million, or US$0.02 per share, in the year-ago quarter. Also included in income from continuing operations for the third quarter was a net after-tax gain of US$23 million, or US$0.06 per share, for Other Specified Items as compared to a net after-tax charge of US$25 million, or US$0.08 per share, in the corresponding period of 2003. Other Specified Items are detailed in the table below.

US Association Boards Agree to Merge

The boards of the two major U.S. window and door associations announced on October 6th that they have agreed to consolidate the two organisations: The Window and Door Manufacturers Association of Des Plaines, Illinois, and the American Architectural Manufacturers Association of Schaumburg, Illinois. Each have a small group of member company leaders participating in a joint task group to work on plan development.

Task force members will develop and recommend transitional and long-term organisational structure, governance, procedures and financial plans. The task force plans to present proposals on the new association to the respective memberships at the WDMA and AAMA meetings in the first quarter of 2005, according to a press release.

The 'joining of the two associations can offer more service, speed and streamlined efficiencies to members and a whole host of benefits to all our specifier and user communities through simplified, single-source messages,' says Chris Simpson, vice president of marketing and sales for Pella Corp. in Pella, Iowa, and WDMA’s chairman.

'A single, stronger window and door association is of high interest to AAMA members from both the residential and architectural markets,' says Chris Fuldner, president and chief executive officer of EFCO Corp. in Monett, Mo., and AAMA’s chairman. 'Such a change would bring together the two organisations into a more powerful and unified voice as we face issues in standards and code development, increasing legislative opportunities, and rapidly escalating legal challenges.'

Assa Abloy: Continued Strong Organic Growth in the Third Quarter

'The third quarter's organic growth is another step in the right direction. We are now back on the positive course that characterises Assa Abloy through continuing improvements in sales and earnings,' says President and CEO, Bo Dankis. 'We have compensated for higher material costs, and the margins are increasing thanks to better volumes and to the restructuring we have carried out.'

Highlights
- Sales in the third quarter increased organically by 6% to SEK 6,447 M (5,930).
- The operating margin (EBITA) increased to 15.1% (13.9).
- Net income for the third quarter increased to SEK 395 M (299).
- Earnings per share for the quarter increased by 32% to SEK 1.07 (0.81).
- Operating cash flow amounted to SEK 1,082 M (1,054), excluding payments relating to restructuring.
- New dividend policy adopted by the Board of Directors will lead to a significantly increased dividend.

The Group's sales in the third quarter totalled SEK 6,447 M (5,930), an increase of 9% compared to the previous year. Organic growth was 6%. Translation of foreign subsidiaries' sales to Swedish kronor had a negative effect of SEK 176 M due to changes in exchange rates. Newly acquired companies contributed 6% to sales.
 
Sales for the first nine months of 2004 amounted to SEK 19,263 M (17,983), which represents an increase of 7%. Organic growth was 6% and acquired units contributed 5%. Exchange-rate variations affected sales negatively by SEK 738 M compared with the equivalent period in 2003.

Operating income before depreciation, EBITDA, for the third quarter amounted to SEK 1,196 M (1,044). The corresponding margin was 18.6% (17.6).

The Group's operating income before goodwill amortisation, EBITA, amounted to SEK 976 M (824) after negative currency effects of SEK 30 M. The operating margin (EBITA) was 15.1% (13.9). Goodwill amortization amounted to SEK 245 M (238).
 
For the nine months, operating income before depreciation, EBITDA, amounted to SEK 3,484 M (3,114). The corresponding margin was 18.1% (17.3). The Group's operating income before goodwill amortisation, EBITA, amounted to SEK 2,802 M (2,440) after negative currency effects of SEK 109 M. The operating margin (EBITA) was 14.5% (13.6).
 
Income before tax for the third quarter was SEK 605 M (467) after negative currency effects due to translation of foreign subsidiaries of SEK 16 M. The Group's tax charge totalled SEK 208 M (165), corresponding to an effective tax rate of 34% (35) on income before tax. Income before tax for nine months was SEK 1,706 M (1,342) after negative currency effects of SEK 60 M.
 
Earnings per share after tax for the third quarter amounted to SEK 1.07 (0.81). EPS excluding goodwill amortisation was SEK 1.71 (1.46). Earnings per share for nine months amounted to SEK 3.02 (2.34). EPS excluding goodwill amortisation was SEK 4.98 (4.28).
 
Operating cash flow for the quarter, excluding costs of the restructuring programme, amounted to SEK 1,082 M - equivalent to 179% of income before tax - compared with SEK 1,054 M last year. Working capital decreased by SEK 135 M in the quarter, mainly referable to a reduction of the capital tied up in accounts receivable. Operating cash flow for nine months totalled SEK 2,349 M (2,196).
 
The 'Leverage and Growth' Action Programme
The two-year action programme initiated in November 2003 is progressing well, with a long series of specific actions. The previously announced sale of the Detention Group in the USA was completed during the quarter. The Detention Group has sales exceeding SEK 200 M.
 
Cost savings are projected to reach SEK 450 M a year by late 2005. SEK 150 M is expected to be realised during 2004 and additional SEK 200 M in 2005. Up to the end of September 2004, payments of SEK 192 M - of the planned SEK 935 M - relating to the action programme have been made and 500 of the 1,400 employees becoming redundant have left the Group. Negotiations concerning 1,000 of the 1,400 employees have been finalised.

EMEA
Sales for the third quarter in the EMEA division (Europe, Middle East and Africa) totalled EUR 282 M (260), with 4% organic growth. Operating income before goodwill amortisation amounted to EUR 41 M (33) with an operating margin (EBITA) of 14.7% (12.7). Return on capital employed before goodwill amortisation amounted to 14.8% (12.1). Operating cash flow before interest paid totalled EUR 67 M (50).
 
Sales growth in the third quarter was more widely spread than in the previous quarter. Scandinavia, Benelux and Israel are generating strong organic growth, while France, the United Kingdom and Germany were weaker in the quarter. Volume increases and the implementation of restructuring measures contributed to an improved EBITA margin.

Global Technologies
The Global Technologies division reported sales of SEK 1,253 M (1,000) in the third quarter, corresponding to 7% organic growth. Operating income before goodwill amortisation amounted to SEK 182 M (139) with an operating margin (EBITA) of 14.5% (13.9). Return on capital employed before goodwill amortisation amounted to 13.4% (10.6). Operating cash flow before interest paid amounted to SEK 258 M (156).
 
Global Technologies reported strong organic growth in the Identification Technology Group and Door Automatics, with good increase in margins even though acquisitions made by the Identification Technology Group had a diluting effect on the division's margins. In varying market conditions the Hospitality Group continued to report negative organic growth but did not make a loss. A number of restructuring measures are ongoing.
 
Other Events
During the quarter two small companies were acquired - Panija in England, which is active in identification, and Kingsgate in China, which manufactures hotel safes. In addition, a joint venture has been established with Brighthandle in Sweden, which develops door handles.
 
The Assa Abloy nomination committee consists of Georg Ehrnrooth, Melker Schörling and Gustaf Douglas. In accordance with the resolution at the Annual General Meeting, have the major institutional shareholders been contacted during the third quarter with the objective to appoint two additional members that will be announced shortly.
 
Outlook for 2004-2005

Assa Abloy's outlook has been revised upwards in terms of sales volumes. Organic sales growth is expected to continue at a good rate. The operating margin before goodwill amortisation (EBITA) is expected to rise, which in 2005 will be mainly due to savings resulting from the restructuring programme. Excluding restructuring payments, the strong cash generation is expected to continue.  
 
Long term, Assa Abloy expects an increase in security-driven demand. Focus on end-user value and innovation as well as leverage on Assa Abloy's strong positions will accelerate growth and increase profitability.

Web: http://www.assaabloy.com

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