News @ The GL@ZINE

This picture was sent to us by Dave Moon, managing director of Arena West in Gloucester. The witty slogan was thought up by a member of staff, and the compay has sent it to some of the local papers to see if they pick up on it.

Deceuninck's Q1 Turnover Rises Slightly to 125.5m Euros: UK a 'Cause for Concern'

Group Deceuninck, a worldwide leading manufacturer of PVC window systems and profiles for the construction Industry, achieved turnover of 125.5m euros during the first quarter (2004: 123.9m euros) despite the weak market demand in Western Europe and the consequences of the hoarding effect last year in Poland. Excluding Poland, turnover would be up by more than 4%. The exchange rate and turnover from divested activities together had a negative impact of 2.1%. The volume sold rose by 1.4%.

A late but hard surge of winter during March combined with an early Easter period hampered the construction business significantly, mainly in Europe. The good start in January was thus partially offset in March.

Divergent Regional Trends

1. Poland
Poland continues to be the most difficult market. The weak sales results since May of last year continued and provide a distorted image on a quarterly basis, due to the fact that the hoarding effect in 2004 primarily appeared in the period from January until April. However, the Polish market is also characterised by lower demand compared with the first quarter of 2003.

2. The United States
Sales in the United States were very good compared with last year. Construction market economic indicators are positive for the coming months both for new construdion and for renovation.

3. Growth markets
The positive trend in the most important European growth markets, especially Spain plus central and south-eastern Europe, continues to be remarkable. Deceuninck was able to record a growth in turnover of over 20% in almost all growth regions.

4. Ageing markets
The situation in Germany and the United Kingdom is a cause of concern to Deceuninck. Demand in both markets was characterised by a decline which cannot simply be explained by seasonal factors. Recent information on the expected window market in 2005, where the PVC share yet continues to rise, indicates stagnating to falling business in both countries.

Strategic projects

1. Zendow
The transition to the Zendow system currently underway at full speed in Benelux, the United Kingdom and Spain and which strongly influenced turnover in France last year, is creating an exceptional temporary situation, On the one hand some window manufacturers are cutting back their stocks completely in expectation of the changeover, while others are carefully rebuilding stocks.

2. Russia
Despite the severe winter Russia saw a significant rise in its turnover compared with 2004. Deceuninck is now reaping the benefits in Russia of the customer acquisition strategy implemented last year, which have amply offset the negative impact of the harsh winter on turnover.

Preparations for a small-scale production start-up near Moscow by the end of the second quarter are proceeding according to plan and are merely being impeded by the slow local bureaucracy.

3. Turkey
Turkey performed excellently again in line with expectations. Winsa was jointly consolidated for a full quarter for the first time.

4. Wood composite
The sale of wood composite decking in the United States is progressing according to plan. Production has since been extended by three new extrusion lines, which means that output capacity has been doubled.

In Europe the first wood composite construction products were presented to a limited professional public during the construction trade fairs in Brussels and Utrecht (The Netherlands). They generated a great deal of interest and approval. Their launch is being prepared in full and plans for the first deliveries during the second half of the year continue to be maintained.

Development of raw materials prices during the first quarter
Weak demand in Europe and the slower than expected pickup in the economic cycle in China led to a slight dip in the price lndex of raw materials KI. Prices nonetheless remain exceptionally high and pressure on prices is expected again as soon as demand rallies.

Sales prices
The passing on of the increased raw materials cost via a second price increase is proceeding according to plan. The first effects are already visible in the results for the first quarter. It is expected that this factor will be even more pronounced during the second quarter.

Further expectations for the complete 2005
Deceuninck retains its expectations for 2005 as a whole with a rise in turnover of 5 to 10% and a substantial rise in the operating result (EBIT) and operating cash flow (EBITDA).

Deceuninck is an integrated group of world format, specialised in compounding, tool fabrication, design, development, extrusion, finishing, gaskets, recycling and injection moulding of PVC-U systems and profiles for the building industry. The company is active in more than 60 countries, has 32 subsidiaries (production and/or sales) and is supported by 3043 personnel, 670 of them in Belgium. In 2004 the Deceuninck Group achieved consolidated sales of 582.1 million euros.

Schüco International announced on 13th April that it is closing its PVC-U division in the UK in order to concentrate all its resources on the aluminium and steel systems sectors where it enjoys market-leadership.

According to Marc von Briel (pictured) , Chief Executive GB, the decision to withdraw from the PVC-U market was taken with great reluctance since although the company has never had a manufacturing base in Britain, it has been supplying UK fabricators with window and door profile systems for over 20 years.

However, the rapidly rising cost of transport and an increasingly negative exchange rate coupled with aggressive pricing in the highly fragmented UK market, mean that Schüco considers its continental extrusion capabilities can be used more profitably to service other European markets.

By closing the PVC-U division, Schüco will be able to make an even greater commitment to its metals clients and fabricators, providing them with an even better level of service and much greater resources in terms of deliveries, warehousing and logistical support.

Marc von Briel comments, ‘We intend to strengthen our presence in the metals sector still further in order to reinforce and actually extend our current dominant position as the leading supplier of innovative systems solutions for the entire building envelope.’

Schüco’s PVC-U fabricators will find the company’s level of support unchanged in the short term. All current orders will be fulfilled and the company will continue to supply products on new orders until 1st August 2005. Approximately 25 full-time staff will become redundant, although Schüco will try and offer alternative employment within the company to as many employees as possible.

For more information, contact the Chief Executive’s office on 01908 289141.

Orion Makes Timely Decision To Move To Profile 22

Orion Window Systems Ltd has become one of Profile 22’s newest customers in a deal signed last week, just days after the Southern-based fabricator’s existing supplier announced that it is pulling out of the UK PVC-U market.

Commenting on the move Managing Director Carl Painter said: 'We have been talking to Profile 22 for the past year, considering the benefits of switching supplier, so were in the perfect position to make a quick yet fully considered decision as soon as news broke. Profile 22 offers a wide range of integrated products that will support the growth of our business. Quality product and service are what we need to succeed in our business plan and Profile 22 has impressed us for some time now, not least with their professionalism and full package of support'.

Orion has plans in place to considerably grow both its trade and commercial business. 'Because we have already looked in detail at what Profile 22 has to offer' concludes Carl Painter, 'we can manage the move with full confidence and reassure our customers with maximum support during the changeover. Although things happened a little quicker than we had anticipated we are moving forward with a system that fulfils all of our criteria for growth'.

For Profile 22 Sales & Marketing Director Rob McGlennon says: 'It’s great that we are able to step in and support Orion just when the need accelerated. We have worked incredibly hard in recent years not only to develop our product range but also to make sure we offer the total package of support our customers need. After all it’s at times like this that differences in the total package really shows up'.

In a move that market analysts believe will make it the largest manufacturer of cellular plastic cladding and roofline products in the UK, Celuform Ltd has purchased the Vekatrim range of PVC-ue cladding, roof trims and finishing systems from Veka plc.

Celuform says that it was the first manufacturer of cellular plastic building products in the UK and supplies stockists throughout Europe. The company provides a complete range of systems for new build and refurbishment.

Veka plc, part of the worldwide Veka Group, supplies market leading window systems throughout the UK and Ireland.

Andrew Wakelin, Managing Director of Celuform, said he was delighted with the purchase. 'The Veka commitment to quality and the company's excellent reputation fits very well with us. Adding Vekatrim products to our range will enhance the selection of products and services that we can provide to a wide range of customers,' he commented.

'We look forward to working with Vekatrim distributors and will focus on continuing to provide them with the best possible service and support.'

Celuform is an exclusive supplier of roofline and cladding systems to a number of developers including George Wimpey and David Wilson Homes, as well as being a key supplier to many housing associations and local authorities. The company will retain the Vekatrim brand.

'This is an ideal move for us' said Peter Abbott, Veka plc Managing Director. 'Divesting this part of our business to Celuform releases production capacity at our Burnley factory for our growing window systems core products and at the same time we will continue to market the Vekatrim product to fabricators through a long-term supply agreement that we have entered into with Celuform.'

For more information about Celuform PVC-ue products call 01622 719199 or go to http://www.celuform.co.uk

Synseal Achieves Prestigious Listing on Sunday Times Profit Track for Third Year in a Row

For the third year running Synseal Extrusions Ltd is listed in the Sunday Times Profit Track 100. Profit Track 100 ranks fast growing unquoted companies by profit growth over a three year period.

Synseal is one of only nine companies this year who has been in the list three or more times – an achievement described by The Sunday Times as exceptional. In fact, Synseal is one of only twenty companies ever to produce consecutive compound profit growth since Profit Track began.

Gary Dutton, Chairman and Founder at Synseal, says: ‘Again we’re delighted Synseal is in The Sunday Times Profit Track. Our growth has been consistent thanks to our existing customers and their continued success, as well as taking on new customers. Being listed three years in a row shows our strategy has gone down well in the conservatory market place.

'We listen to our customers and continue to give them what they want, when they want it – a basic concept so often overlooked in this market. Synseal is focused on the future with new products and innovations that add real value and reduce time and costs for our customers – so everyone along the supply chain makes the margins they deserve.

'As the Profit Track reflects, Synseal is a fast growing and innovative company – with serious ambitions to be No.1.’

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

Duraflex announces that Chris Phillips, Managing Director, has left the business to pursue other interests.

The business is being managed by its existing senior management team, with Barry McCarthy, Operations Director, installed as Acting General Manager. Executive responsibility is with Steve Osborne, previously Finance Director of Duraflex and now the Masco UK Windows Group Finance Director.

No disruption to the business is anticipated.

All enquiries should be addressed to Ian Cowan, Sales Director, Barry or Steve.

Teenager, James Nash is on the road to living his dream of competing in the world of F1. James finished second at Silverstone’s National Circuit in the first round of the BRDC Formula Ford Single Seat Championship.

James, who is just 19, came second in the British National Karting Championship, TKM Senior Extreme, probably the most competitive class of all motor sport. In March, at Silverstone, he tightened the grip on motor sport with setting the quickest times and began the BRDC Formula Ford Single Seat Championship in first standing start and first qualifying, a hard earned position in the world of motor sport.

James had a phenomenal race and came in one tenth of a second behind the winner, and three seconds ahead of the rest of the field. James said of his achievement, ‘This was just a fantastic first single seater race for me. It was such a close result that the next races will be extremely exciting. I am so determined to reach the top of this profession, that I am prepared to do all I can to achieve the result.’

Looking for sponsorship in helping him on his way to becoming an F1 driver James continues, ‘This is a great sport and I have achieved a lot through the support of my father and my determination, but now I am focused on getting to the next level and for that I need more support. We are looking for sponsors for the year. This is a great start to the season. The next 14 championship races over eight circuits in the UK should be really exciting and great exposure for sponsors.’

To contact James, please call; Jacqueline, JM Marketing on 01536 414555/07968 122017 or email mailto:jmmarketing@virgin.net

'After more than 35 years of total dedication to the flat glass industry, the time has arrived for me to take a step aside.' says Bob Reijner, pictured here with his wife at Glasstec.

'In this regard I am very pleased to introduce IGA's new owner and managing director, Mr Rene W.T. Jansen.

'Mr Jansen, although not having previous experience in the flat glass industry, posesses an impressive track-record in various leading commercial functions which will contribute to IGA's continulng success as a global flat glass supplier.

'Rene Jansen will take up his duties as per 01/05/2005.

'I myself will remain with IGA as an advisor for three years in order to guarantee a smooth transition period.

'Finally, I would like to express my gratitude to all of you for your continued business and your trust and friendship.

'We will continue to serve you as always and are sure that the entry of Rene will contribute to even greater mutual business opportunities.'

Tel: 32 (0)2 687 22 44
Email: mailto:info@iga.be
Web: http://www.iga.be

One of the major issues currently taxing the window industry in the UK is the extent to which the replacement window market is nearing saturation. This is important because replacement windows account for over 40% of the home improvement market for glazed products, nearly £2 billion.

‘Our research shows that since 1975 over 100 million PVC-U windows have been installed in owner occupied dwellings. And nearly two thirds of those have been installed since 1995.’ says Palmer Market Research.

‘The sobering thought is that, if the current rate of replacement continues, the market will be completely saturated within eight years. But how likely is this to happen?’

The increasingly crucial factor of replacement is likely to be the perceived longevity of windows already installed. Life expectancies are increasing. For PVC-U windows, for instance, BS 7412 states that: ‘PVC-U windows manufactured in accordance with this British Standard are expected to last in excess of 40 years’.

On figures like this we are not going to see a burgeoning replacement of replacements market any time soon. Indeed if the new generation of replacement windows are technically so good then the rate of replacements of replacements may actually decline.

This rather disturbing thought means that more than at any other time, the need to find out what homeowners really think about windows is vital. How good do they think their windows are? To what extent are they repairing rather than replacing windows? And if repairing who's carrying it out? - (They might be the next generation of installers.)

The proposed research is in three parts:

1. A survey of the state of currently installed windows as perceived by homeowners.
a. By frame material
b. By date of installation
c. By age of property

2. A survey of replacement windows as perceived by homeowners.
a. By reason for replacement
b. By frame material of old window

3. A survey of window repairs as an alternative to replacement.
a. By frame material
b. By reason for repair
c. By company carrying out repair

It is proposed to get results from at least 2,500 adults who are
* Heads of households or spouse/partner of heads of households;
* Own their property either outright or with a mortgage
* Have lived in their current property for at least 12 months

For more details go to http://www.palmermarketresearch.co.uk/propconsumer.htm

Hertfordshire based Shield fabricator Crystal Clear celebrated 10 years of trading last week. From humble beginnings a decade ago Crystal now operates from purpose built high tech factories in Letchworth, producing thousands of products every week.

From the six original staff members (all of which are still with the company) Crystal now employs over 100 staff to service its 450 clients of various sizes and from across the country.

Since the introduction of the Shield system and subsequently the Shield conservatory roof, Crystal conservatory sales have grown dramatically with last year’s figures showing a 35% increase.

Martin Manning, Crystal Clear’s Sales Director, receiving a plaque from Nick Dutton, Synseal’s Sales and Marketing Director

Martin Manning, Crystal Clear’s Sales Director, says: ‘Like most companies that have been around a while, Crystal has seen many others come and go. Our customers know that we are always here and constantly giving them exactly what they need!’

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

A major restructuring and investment programme is reaping rewards at Darby Glass, one of the country’s leading independent IGU manufacturers and specialist glass processors and tougheners. The company, which operates from six sites in the UK, has secured 25 new customers during the last quarter representing an annualised increase in sales of over £3 million. While new business wins have been spread across the UK, Darby’s best performing branch has been Gloucester.

The recent appointment of an experienced and enthusiastic new management team has spearheaded an ambitious product development strategy at Darby Glass, alongside an investment of over £1 million in new equipment. ‘The results we’ve achieved in the last three months indicate that we’re on course to grow the top line by 30% during 2005, even in the face of tough trading conditions for the window and glass industry,’ says Sales and Marketing Director Chris Roberts.

Geoff Austin- Darby Glass Area Sales Manager, Roger- David Brunskill Windows- Production Director David Brunskill- David Brunskill Windows-Managing Director

The company’s successful strategy for growth includes an aggressive sales and marketing policy to increase market share, plus investment in the latest glass technologies, such as the newly-launched Roof-Glas by Darby. Maintaining a customer service department is also a top priority, as Chris explains: ‘We recognise the importance of investing in proactive people with the right experience who can work with our customers to build strategic partnerships.’ The company is also in the process of installing EDI computer links to further enhance the efficiency of customer transactions.

Among the prestigious new additions to Darby’s customer base is David Brunskill Windows, based in Keighley. With over 15 years’ experience in manufacturing and installing PVC-U windows, doors and conservatories, David Brunskill has earned a reputation for top quality products and reliable service, and looks for suppliers with the same high standards. ‘Darby Glass is able to meet our needs in terms of both product range and delivery,’ says Roger Haigh, Director of David Brunskill Windows. ‘In fact, it is one of the very few glass companies which will deliver three times a week, which fits in well with our lead times. And the company will even arrange delivery direct to site, which is really helpful on larger contracts.’

Darby Glass believes keeping abreast of the latest innovations in glass is key to achieving growth in an otherwise static marketplace. ‘The market is certainly showing a slow down, but the latest solar control products are definitely on the up. Indeed, our new high performance Roof-Glas range, aimed predominantly at the conservatory market, is already generating considerable interest,’ says Chris.

Darby is now looking to build on its recent successes by focusing on growth areas within the glass industry. Further developments in specialist glazing and related services are promised, alongside expansion of core product lines, including double-glazing for the PVC-U market and commercial sealed units for the aluminium sector. The company also sees opportunities for processed glass in several niche markets. Summing up, Chris says: ‘I believe we’re gaining market share because we understand our customers’ needs and expectations, and continue to offer the most comprehensive and innovative range of products in the market today.’

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

Belfast-based Dessian Products has just celebrated its 20th anniversary in partnership with Rehau. Alan McGaughey, the company’s MD received a certificate and an engraved crystal bowl to mark the occasion from Wolfgang Gorner, Rehau’s Business Unit Manager, at a presentation.

Wolfgang said: ‘Dessian is one of the PVC-U sector’s greatest success stories and we are very proud to have been a part of that right from the beginning. 20 year business partnerships are relatively rare in this industry so this one between two of its biggest names is especially significant.’

‘Dessian was founded in 1985 and chose Rehau as its supplier because the system already had a reputation for quality and was even then one of the strongest brands in the marketplace.’ says Alan McGaughey.

‘The strength of the Rehau brand has continued throughout the 20 partnership and that it remains a key part of Dessian’s success.’

Dessian fabricates in the 60mm REHAU-Tritec and 70mm S706 systems. From its 60,000 sq ft HQ in Northern Ireland and its factory in Scotland, it supplies customers throughout the UK. Alan adds: ‘Dessian is probably one of Rehau’s best kept secrets in that we have been manufacturing Rehau products for 20 years and have never really had the need to advertise our services.

‘We have built our reputation on three simple rules – service, quality and value for money. As an example, our delivery service starts with our first customers at 7am on a Monday morning in central London and at the same time another lorry is making its first delivery on the south coast of England.

‘We never get complacent and value our long term customers in just the same way as Rehau does. We have lots of customers who have been buying from us for more than 15 years and we are always looking at ways in which we can improve both our products and our service to them.’

Persimmon Group PLC, the UK’s leading house builder, builds 12,000 homes a year throughout the UK, so when it comes to roofline it needs a supplier that has the technical backup and knowledge to cope with big demands. That’s why Persimmon uses GAP, the PVC-U building materials stockists, for its roofline products in Lancashire and Merseyside.

Peter Skinner, Assistant Buyer for Persimmon, explains how having a dedicated GAP account manager keeps supplies running smoothly: ‘We buy an exclusive range of profile from GAP and have spent over £1.5million over the last three years with them.

Tony Fitzgerald manages our account, so monitors all our orders and will phone if we’ve left something off the order. That means we know about it before it can ever become a problem. The level of service we get from GAP is superb and knowing they are always one step ahead makes a good working relationship.’

GAP understands the difficulties for commercial contractors. Tony Fitzgerald, Commercial Sales Manager, elaborates:

‘For a housebuilder, roofline represents just one small part of a contract, making sure that everything arrives on the right day is paramount. The problems that can be caused at the site with shortages or incorrect deliveries can cost these companies thousands in lost wages and time penalties. We see our job as critical in keeping our part running smoothly – and that’s where I come in.’

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

KEB Fabrications has presented three of its experienced team with long service awards.

Fabricator Kirit Pandya, Despatch Operative Tracey Winters and Quality Manager Manher Patel have all served twenty years or more with the Midlands based commercial fabricator. Presenting gold watches to them, KEB Managing Director, Lawrence Breakspear said, ‘The loyalty and service shown by Kirit, Tracey and Manher is deserving of our recognition and respect. Our workforce is the cornerstone of KEB Fabrications. They are our greatest asset and the continuity and experience which they offer, reflects on our performance as a business’.

The average length of service of KEB’s employees is seven years, at a time when staff retention is an issue throughout the glazing industry. Breakspear offers an explanation, ‘We have created a great working environment at KEB. We are an equal opportunities employer and are respectful of all our work colleagues. Over the next twelve months I will be awarding more gold watches for long service. It is a reminder that behind the scenes, a lot of people are working very hard, manufacturing our products and building our reputation’.

KEB Fabrications Ltd specialises in supplying high performance quality PVC-U windows and doors to the social housing refurbishment market and has recently acquired JAG Glazing in Shropshire.

Tel: 0121 555 5533
Email: mailto:lbreakspear@kebfabrications.co.uk
Web: http://www.kebfabrications.co.uk

The conservatory market is a competitive market to work in, and if anything it’s becoming more so. Roofline UK has been installing roofline and conservatories for 22 years and started to find that the company wasn’t growing as much as it had hoped, despite the competitive nature of the market.

‘We decided to try a different supplier,’ explains Aiden Davenport, Owner of Roofline UK, ‘and for the last one and a half years we’ve been completely satisfied with the excellent product quality and service we’ve received from Newstead. In order to be successful you need the backing of a good supplier, to get on time complete deliveries and consistent quality at competitive prices. Newstead gives us all of this.’

Tel: 01782 641 642

A brand is a promise of what you can expect in product quality, range, service, price and support. Freefoam is a manufacturer of high quality roofline and rainwater products for the Northern European market. The company, like many manufacturers, realises the importance of branding its products for differentiation and customer information.

‘Some companies, unfortunately, continue to use branding to divert attention from a problem or weakness. An example of dual branding gone wrong is the story of Stylish, a leading brand of roofline.’ says the company. ‘Under pressure to discount, but determined to restrict the damage to margins, the company introduced identical products under a no-frills budget brand called Mountain Top. Sensibly enough, many stockists have become wise to the dual branding and have switched supplier or decided to purchase the product under the Mountain Top brand.

‘If you mess around with the core values of branding you erode trust. Once trust goes, sales and profit suffer. It may not happen overnight, but investment and innovation inevitably decline, and stockists, installers, specifiers and homeowners lose out when the brand becomes a commodity. It's important that the roofline industry remains vigilant for this type of activity.’

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

Sapa Building Systems has invested in a new, high speed, Elumatec SBZ140 four axis machining centre at its window manufacturing centre in Cheltenham to meet continuing increasing demands for its Dualframe system.

The new machine complements similar machining centres already installed at Sapa and is fully integrated into the companyís operating systems to ensure orders are processed at a highly efficient rate following order entry.

The Elumatec machine is capable of producing window components far quicker than by existing methods and also carries out 'second operations' without having to move to another process and thus improves productivity, flexibility and therefore Sapa's ability to meet growing customer requirements for projects requiring large numbers of window or door kits.

The flexibility of the machining centre means that it can efficiently produce machined components for the full range of kit products produced by Sapa including the Dualframe horizontal and vertical sliding windows. This is particularly important for Sapa as strong growth in the commercial sector in particular has meant customers are demanding a fast response whatever a project's specification requirement.

Alcoa Chairman Alain Belda Opens National Manufacturing Week and Aluminum Association Spring Meeting

Alcoa Chairman Alain Belda presented the keynote address recently to 25,000 manufacturing executives from 70 countries attending National Manufacturing Week in Chicago and the U.S. Aluminium Association's Spring meeting. Mr. Belda's remarks focused on the global trends shaping Alcoa and the aluminium industry's commercial landscape and the opportunities they create in the coming decades.

Held March 7-10, National Manufacturing Week is the only U.S. trade show covering the complete manufacturing process.

For a copy of Mr. Belda's remarks, visit http://www.alcoa.com/global/en/news/nmw.asp

Glas Trösch, of Bützberg, Switzerland, an innovator in the European glass processing industry, will be putting its trust in the Edgetech Super Spacer® product line from now on. Lisec will supply Glas Trösch with its first Super Spacer® production line in the next few days.

Glas Trösch AG of Bützberg, Switzerland, which celebrated its centenary this year, is an established name for facade systems, interior construction, fire security, thermal insulation, anti-glare, safety and design. In the words of René Eckenfels, Managing Director of Glas Trösch AG: ‘We’re thrilled by Edgetech Super Spacer®. It’s unbeatable in its breadth of application and it will massively boost our productivity. The Super Spacer® convinces purely on the basis of its technical performance parameters and thermal properties.’

Torsten Keemss, Managing Director of Edgetech Europe GmbH is proud to working with the group: ‘Glas Trösch has always been able to successfully serve both the niche market for special glass products as well as the European mass market for high quality construction glazing. It is part of the company’s tradition to identify the signs of the times early on and invest in innovative technologies in response.’

Tel: 02476 705570

Masco Corporation Declares Increased Quarterly Dividend and New Share Buyback Programme

Masco Corporation announced on 22nd March that its Board of Directors has declared an increased quarterly dividend of $.20 per common share payable on May 9th, 2005, to shareholders of record on April 8th, 2005. The 11 percent increase from $.18 to $.20 per common share reflects Masco's favourable long-term outlook, its strong balance sheet and cash flow and the recent tax law changes. This marks the 47th consecutive year in which dividends have been increased.

Masco also announced that its Board of Directors has authorised the purchase of up to 50 million shares of its Common Stock in open market purchases, privately negotiated transactions or otherwise. This authorisation replaces the Company's existing program under which approximately 43 million of the 50 million shares previously authorised had been repurchased. The Company had approximately 447 million common shares outstanding at the end of the 2004.

The Company also announced at its Annual Investor Day Meeting that it expects to return a minimum of $1 billion to shareholders, on average annually, over the next several years through share repurchases and dividends as part of its ongoing commitment to value creation. In 2004 and 2003 the Company returned approximately $2.3 billion, in aggregate, to shareholders through share repurchases and dividends.

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

The Trelleborg Group has strengthened its long-term financing by raising a new syndicated loan with a counter value of EUR 1,200 M (approximately SEK 10.9 billion) stretching over a five-year period with possibility to extend a further two years. The financing was significantly oversubscribed and the loan was increased from the original EUR 1,100 M to EUR 1,200 M. The new facility shall refinance Trelleborg’s existing USD 600 million facility of June 2002 and EUR 540 million facility of October 2003. The Facility is divided into two tranches of EUR 750 million and USD 600 million. The Facility margin at present gearing is 0,275% and the commitment fee 0.09%.

A total of 17 domestic and international banks participate in the financing. Mandated Lead Arrangers are Danske Bank, Fortis Bank, Handelsbanken, Nordea and SEB Merchant Banking. Arrangers are Lloyds Bank and ING Bank. Co-Arrangers are DNB NOR, Nord LB, Societe Generale and Deutsche Bank. Senior Lead Manager is Citigroup. Lead Managers are San Paolo IMI, HSBC, BBVA, Commerzbank and BNP Paribas.

'This new Facility reduces our financing cost and also lengthens the maturity profile of our credit facilities with up to four years,' says Fredrik Arp, Trelleborg’s CEO. 'The fact that the loan was significantly oversubscribed demonstrates the strong interest in participating in the future development of the Trelleborg Group.'

Web: http://www.trelleborg.com

'We are well on our way and keeping pace.' These were the words used by Dr. Wolfgang Reitzle, President and CEO of the Executive Board of Linde AG, to describe the current business situation of the technology group at the press briefing on the annual results in Frankfurt am Main. Dr. Reitzle also gave a positive assessment of the Group's prospects: 'We anticipate that Group sales and earnings in the current fiscal year 2005 will once again exceed those of the previous year. However, the growth in earnings may be somewhat slower than in 2004.'

- Fiscal 2004: The Linde Group's focus on the two remaining pillars of the business, Gas and Engineering and Material Handling, has been successful
- Earning power and efficiency both increased
- Balance sheet structure significantly improved
- Business trends as at end of February 2005 - incoming orders up 10.4 percent
- Prospects for 2005: Group sales and earnings above prior year figures

In fiscal 2004, against the background of a dynamic global economy, characterised in particular by the growth areas of China and the United States, Linde increased Group sales by 4.8 percent to 9.421 billion euro, while incoming orders saw a 6.1 percent rise to 9.637 billion euro. Operating profit (EBITA) showed a 14.9 percent improvement over the prior year to 785 million euro and net income increased from 108 million euro to 274 million euro.

'We have also been successful in our continuing drive to improve our balance sheet structure', explained Dr. Reitzle. 'In fiscal 2004, we again reduced our net financial debt, this time by 462 million euro to 1.968 billion euro.' Over a period of three years, Linde has cut its net financial debt by 1.5 billion euro.

All the company's divisions have contributed to the overall positive development of the Group in 2004. Linde Gas achieved sales of 4.003 billion euro, 4.2 percent above those for the previous year. After adjusting for currency effects, the increase would have been even more significant at 6.9 percent. EBITA in Linde Gas rose 7.0 percent to 640 million euro. The increase in profitability was generated principally by the 'Fit for Future' optimisation programme, which delivered cost savings of 70 million euro by the end of the year in line with budget.

Linde Engineering has continued to perform well in the past year, reporting a 24.5 percent increase in sales to 1.581 billion euro. Incoming orders, an important gauge for the plant construction business, reached 1.525 billion euro, which was above the high level of 1.474 billion euro achieved in 2003. EBITA in Linde Engineering improved from 46 million euro to 69 million euro. All the main product segments, the natural gas, olefin and air separation plant divisions, contributed to this growth in sales and earnings.

In the Material Handling business segment, Linde benefited from the rise in global demand for industrial trucks, achieving a 10.1 percent increase in sales to 3.372 billion euro. The trends on the income side were even better in this segment. EBITA was 22.4 percent higher than in the previous year at 191 million euro. 'This improvement is due to TRIM.100, our process optimisation programme, which has enabled us to achieve our budgeted cost savings in the past two years', commented Linde's CEO.

At the same time, Dr. Reitzle announced further optimisation programmes. 'Performance, in the sense of constant improvements in our structures and procedures, is an ongoing process for us. We therefore intend to introduce further measures to improve earnings in Material Handling and Linde Gas, against a background of rising energy costs and raw material prices and intense international competition.' In Material Handling, the current year will see the launch of a follow-up programme to TRIM.100, which will enable Linde to achieve additional cost savings and to create further synergies across the brands. In the Linde Gas division, in the current fiscal year, the company will also introduce the Growth and Performance (GAP) program, the main purpose of which is to identify and exploit new opportunities for growth.

Based on its business performance in the first two months of 2005, Linde believes that it is 'on course'. As at the end of February, Group sales had increased by 9.3 percent over the previous year to 1.313 billion euro and incoming orders had risen 10.4 percent to 1.544 billion euro.

Linde Gas achieved an 8.0 percent increase in sales in the first two months of the year to 675 million euro, while sales in the Linde Engineering division leapt from 120 million euro to 163 million euro. Incoming orders in Linde Engineering also showed a significant rise of 18.2 percent to 331 million euro. In the Material Handling business segment, Linde achieved a 4.3 percent increase in sales by the end of February to 483 million euro and a 6.6 percent increase in incoming orders to 547 million euro.

'Linde is a very healthy portfolio-driven technology group', concluded Dr. Reitzle. 'All the divisions are subject to the same high demands. In each of our activities, we must be in a leading market position and be at least as successful as our competitors, even if they are classic pure-play companies only involved in one type of business. This strategy is increasingly being rewarded by the capital market.'

Linde is an international technology group, which occupies leading market positions in each of its two Business Segments Gas and Engineering and Material Handling. With some 41,000 employees worldwide, Linde achieved an annual turnover exceeding 9 billion euro.