The two largest companies in the office furniture industry bought or sold out with a 1995 drop.
Two heavy deals were announced in the last months of 1995.
In October, Haworth, China\'s second-largest office furniture manufacturer
, continued to grow --through-
The acquisition concept announced the acquisition of Office Group in the United States. On December, Noel Group finally successfully listedthe-market, off-the-
With the announcement that it has been sold, the market roller coaster.
The continued growth of the acquisition transaction is not new to the acquisition business.
For years, Haworth has been one of the most active office furniture companies in acquiring other companies.
These acquisitions date back to at least 1988 when Haworth bought Comforto.
Other acquisitions include a 1990 acquisition by Miller furniture.
, Kinetics and Lunstead, 1993 for global furniture and 1994 for Tijuana, Mexico-
Soft cushion wood office furniture manufacturer of upholstered manufacturing company worldwide, now purchased US office Group in 1995.
On October, Haworth announced.
23 it purchased an office group in Leeds, Alabama, USA.
, Undisclosed purchase price.
Office Group, a department in the United StatesS.
Sales last year were around $0. 15 billion, consisting of two office furniture companies, co-chair and Anderson Hickey.
Haworth\'s sales may exceed $1 after purchase.
1995 15 billion.
Co-chairs, with factories in Alabama and Mississippi, specialize in office seating and are sold through dealers and wholesalers.
It employs more than 500 people.
Anderson Hickey is a metal office furniture producer with factories in Texas, Tennessee and Utah.
It also employs about 500 people.
Haworth said that the acquisition of Office Group in the United States, as well as 1993 acquisition of Globe, gave
High-end office furniture manufacturers have a large share in the mid-market
Market segments of office furniture industry.
\"The products of co-chairs, Anderson Hickey and Globe complement Haworth\'s products,\" said Jerry Johanneson, president and chief operating officer of Haworth . \".
\"We offer a complete range of office furniture for home offices, small officesto medium-
Large enterprises as well as domestic and international companies.
\"Enter the TV industry to raise money for the acquisition of the Internet TV giant CBS Inc.
It was $5.
Westinghouse Electric Company 4 billion
The Knoll Group was sold to an investment company for $0. 565 billion.
Westinghouse also sold defense and electric subsystems in January to fund the acquisition of television sets.
Warburg of investment group Pincus Ventures signed an agreement on December.
Buy Noel group from Westinghouse.
The management of Noel, including chairman Burton steniyal and vice president John Lynch, will remain in Noel and is expected to become a shareholder of the company.
Lynch will also serve as president of the company.
Noel group has been a wholly owned subsidiary of Westinghouse since its creation in 1990 by Reff Inc.
Shaw, Noel International
Walker and Westinghouse furniture systems
Noel\'s annual sales of $0. 6 billion, employing 3,600 employees around the world, has been in the trading market for the past few years and then left the trading market.
Purchased Noel, who is expected to create records-
In 1995, Warburg, a pingkas investment company, broke profits and increased its various businesses.
The companies currently held include Mellon Bank.
Pay attention to health company
Health care organizations under management;
Also LCI International, a long term
Remote service providers; and Zilog Inc.
Professional semiconductor manufacturers.
According to a statement by Warburg Knoll, pinc\'s business philosophy and approach include direct equity participation, which is a long-term
Long-term investment orientation and active participation in company management.
In addition to Haworth and Knoll, other companies are also involved in business activities.
For example, on 1994, Loewenstein, a contract seat and RTA furniture manufacturer, merged with Winston furniture, a leisure furniture manufacturer
This happened after Loewenstein\'s acquisition of RTA and futon.
Now the company is cutting back by announcing the sale of its Excel Office and Contract Seating Inc.
Subsidiaries in Hickory, New YorkC.
A manufacturer of classic office furniture
with favorable price.
Other acquisitions include the acquisition of California garden forest in December 1995. -
EAC is headquartered in Vogel Petersenof St. Louis, Mo. EAC Corp.
Known as EckAdams Co.
EckAdams product line is also produced, specializing in the production of ergonomic seat products.
Vogel Petersen is the manufacturer and seller of modular office furniture, tables, seating and wardrobe products.
The EAC has set up a new division, the EAC integrated furniture solution for the production and sale of the EckAdams and Vogel Peterson product line.
In addition, in March 1995, Geiger International acquired the design rights and patents of Herman Miller.
Collect the wooden boxes of Samford and Madeira.
Herman Miller has stopped producing wooden box products.
Since then, the two companies have formed a strategic sales alliance, and the sales representative and dealer of Herman Miller have exclusive access to these two wooden box production lines. (
See the relevant story on page 71. )
According to Russell Coyner, executive vice president, Business and Institutional Furniture maker Assn.
International, \"mergers and acquisitions are already a lot, there may be more in the future.
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