Masco Corporation Acquires Erickson Construction Company and Guy Evans, Inc.
TAYLOR, Mich., May 1 / -- Masco Corporation (NYSE:MAS) has acquired Erickson Construction Company and Guy Evans, Inc. Erickson offers a turnkey framing solution for residential homebuilders, providing pre-fabricated wall panels and millwork in Arizona, California and Nevada. Guy Evans, Inc., is a leading installer of millwork, interior and exterior doors, windows and bath hardware, for residential builders and commercial contractors in California and Nevada. The companies will be part of Masco Services Group (MSG), a subsidiary of Masco Corporation, and anticipate combined annual sales of approximately $200 million during 2007.
"These two outstanding companies add additional expertise and capability to Masco Services Group," said Alan Barry, Masco's President and Chief Operating Officer. "This is a strategic extension of the solutions we currently provide to builders."
Masco Services Group is a leading provider of a variety of installed products for homebuilders across North America. MSG has relationships with 90 of the top 100 builders, and sources, distributes and installs more than 20 different product categories.
With Erickson joining the portfolio, MSG now has the capability to manage the entire framing process for the builder, including the procurement of raw materials, the design of framing systems, the manufacture of engineered building components, the delivery of components to the job site and installation.
"Standardization and use of pre-fabricated components enables MSG to provide premium framing quality, while gaining efficiencies in material and labor, significantly reducing cycle time," said Donald DeMarie, Masco Group President - Installation Services. "Providing quality framing is a natural fit with our Environments for Living® program, as framing quality can affect the performance of a housing unit's shell."
The Environments for Living program has integrated advanced features of Building Science for the benefit of America's homebuyers. The Program guarantees a home's energy use and comfort.
The addition of Guy Evans to Masco Contractor Services (MCS), a subsidiary of MSG, is a strategic extension of current MCS building solutions. MCS now is able to offer new and existing customers complementary installation services including millwork, trim and commercial and residential doors, in addition to cabinets, paint, garage doors, shelving systems, closet systems, windows and insulation, currently sold and installed by MCS.
"Guy Evans is a dynamic company that has grown by providing exceptional customer service and high-quality products in the markets it serves," DeMarie said. "Like MCS, Guy Evans values long-term customer relationships and quality workmanship."
Terms of these transactions are not being disclosed.
Headquartered in Taylor, Mich., 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. Additional information can be found at www.masco.com.
First Call Analyst: Maria Duey, +1-313-792-5500 FCMN Contact: kathleen_vokes@mascohq.com
Source: Masco Corporation
CONTACT:Media, Sharon Rothwell, Vice President - Corporate Affairs,
+1-313-792-6028 or Investors, Maria Duey, Vice President - Investor Relations, +1-313-792-5500, both for Masco Corporation
Web site: www.masco.com/
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