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Masco

Masco

Manufacturer of products for the home improvement and home construction markets

Masco Corporation is an American manufacturer of products for the home improvement and new home construction markets. Comprising more than 20 companies, the Masco conglomerate operates nearly 60 manufacturing facilities in the United States and over 20 in other parts of the world. Since 1969 it trades on the NYSE. Under the leadership of Richard Manoogian, the company grew exponentially and subsequently joined the Fortune 500 list of largest U.S. corporations.

As of 2007, Masco employed approximately 32,500 employees and has approximately 6,000 shareholders. The company is currently ranked at 373 on the Fortune 500. As of December 31, 2007, Masco had a little over ten billion dollars in assets, and the company's total revenue was $11.77 billion. Total sales for the company in 2009 were 7.8 billion. In 2010, the company had worldwide sales of $7.6 billion and approximately 90 manufacturing facilities. The current CEO is Keith J. Allman.

Timeline

2017
Masco acquired Mercury Plastics of Middlefield, Ohio for an undisclosed amount and in January 2018, it acquired Kichler Lighting of Independence, Ohio for $550 million.
2015
The company announced it would relocate its headquarters from its facility in Taylor, Michigan to Livonia due to downsizing after spinning-off some divisions.
2003
Masco's annual sales topped ten billion dollars and Masco increased its quarterly dividend for the 47th consecutive year. This ranked them in the top ten publicly owned companies achieving increased annual consecutive dividends.
2001
Masco Corp., or simply Masco, entered the windows business and had operating profits beyond a billion dollars.
2000
Heartland Industrial Partners, a private equity firm, purchased Masco Tech and changed its name to Metaldyne. Metaldyne is headquartered in Plymouth, Michigan. Masco also divested Flint & Walling, Inc this year to Zoeller Company.
1999
Masco involved itself in the architectural coatings business, and the company's annual sales topped five billion dollars for the first time. Masco Corp acquired Arrow Fastener Co., Inc., a hand tool company expanding its business in the hardware category.
1996
Masco sold most of its Home Furnishings Division to investors for $1.1 billion, creating a new company called LifeStyle Furnishings International.
1993
The remainder of Masco Industries became Masco Tech Inc. was listed on the NYSE.
1989
Universal Furniture, BenchCraft and Cal-Style were added in a $480 million deal, as well as Sunbury Textiles.
1986
Masco started a home furnishings division by buying Henredon for $298 million and Drexel Heritage for $356 million.

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