SWEDEN –  The Board of Directors of Nobia AB, a global leader in the kitchen furniture industry, has decided to withdraw previously communicated proposal for a dividend of SEK 4.00 per share, in total approximately SEK 675 million (EUR 61 million).

USA – Steelcase Inc., the largest global manufacturer of office furniture, announced it has sold all of the issued and outstanding capital stock of PolyVision Corporation to an affiliate of Industrial Opportunity Partners.

USA – The U.S. Department of Commerce has issued final duty determinations on Chinese  imports of wooden cabinets and vanities – marking the end of a chapter in a nearly year-long ordeal.

GERMANY – During its annual press conference Nobilia, the largest European kitchen furniture manufacturer , announced that it reached sales of EUR 1.288 billion in 2019, an increase of 4.9 percent compared to 2018 sales (2018: EUR 1.228 billion). This corresponds to an increase of 60.3 million euros.

USA – ACProducts, Inc. (acpi®) completed on February 18 the acquisition of Masco Cabinetry.

USA – The city of Concord, NC is preparing to offer tax incentives to Golden Home a Chinese kitchen furniture manufacturer as part of an USD 86 million investment. Concord’s city council will soon vote on the USD 803,515 grant, which would be given to the company over five years.

GERMANY – Schüller Möbelwerk KG, one of the largest kitchen furniture manufacturers in Europe, generated sales of 554 million euros in 2019 – a 9.9 percent improvement compared to 2018.

COLOMBIA – In 2019 Colombia exported wooden furniture for USD 36.97 million, which translates to a growth of 7.3 percent compared to the previous year, when exports of wooden furniture reached USD 34.4 million.

BRAZIL – The great new feature for Movelsul Brasil 2020 will be an entire pavilion redesigned for great business: a space for Corporate products, Technoretail, Design and Decor.

SWEDEN – Nobia Group, one of the largest global kitchen furniture manufacturer, closed its 2019 balance sheet at a good level.

GERMANY – With sales of 616 million euros, Häcker Küchen achieved a growth of 2.3 percent in the 2019 financial year (2018: 602 million euros). This excellent result reflects the continuation of the positive trend the recent years.

CANADA – Novacap, one of Canada’s leading private equity firms, announce that Bestar, one of its portfolio companies and a manufacturer of ready-to-assemble (RTA) furniture, has acquired Bush Industries, a leading American manufacturer of case goods and RTA furniture for the office and home.