Chromcraft Revington, Inc. (NYSE Amex: CRC) today announced its acquisition of Executive Office Concepts, Compton, California on March 20, 2012.
Executive Office Concepts (EOC) has been in the seating and casegoods business for four decades. EOC was founded by Richard L. Sinclair, who got his start in the furniture industry working his way through college. He has been the President and Chief Executive Officer and active in the day to day affairs of EOC. He has agreed to serve as a consultant for Chromcraft Revington.
Mr. Sinclair has been on the Board of Directors of several trade associations, including the Business and Institutional Furniture Manufacturers Association (BIFMA). He is currently President of the Contract Interiors Marketing Association ( CIMA).
EOC’s leased manufacturing facilities are located on fifteen acres of modern industrial property in the Los Angeles Business Park, halfway between downtown Los Angeles and the Port of Los Angeles.Ron Butler, Chairman and CEO of Chromcraft Revington commented, “We are delighted to be able to build upon our 50 years of manufacturing experience in Senatobia, Mississippi, with the acquisition of EOC. We believe its commercial product lines, especially an extensive health care line, complement our current product line of seating, tables, and waiting area furniture. We plan to operate EOC and offer its branded products to our contract customers, especially those seeking office suites and those in the health care segment. The company has been profitable during the recent difficult economic conditions and we expect the acquisition to be accretive in 2012.” Matt Prochaska, President of Chromcraft’s Commercial Contract Division indicated, “We believe that the addition of EOC to our product offerings will provide EOC’s and our independent sales representatives with one of the most dynamic offerings to serve commercial furniture dealers, the architectural and design community , government agencies, airports, and especially health care clients”. Dick Sinclair commented, “I am delighted to see the business that I founded and developed with the support of wonderful employees, sales representatives and top level customers continue through this transition with Chromcraft Revington. I am also excited to continue to be involved with EOC by joining the Chromcraft Revington team.”
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV