Chromcraft Revington, Inc. (NYSE MKT: CRC) announced today that, on January 11, 2013, its board of directors approved the consolidation of the Company’s Delphi, Indiana Distribution Center operations into its Senatobia, Mississippi manufacturing and distribution operations in the first half of 2013. The Company is considering various options regarding the facility and equipment in Delphi. The 16 employees currently located in Delphi have been offered continued employment at other Company locations. The purposes of this consolidation are to reduce costs and improve customer service by consolidating the inventory into a common point of distribution, while redeploying assets.
Ronald H. Butler, the Company’s Chairman and Chief Executive Officer, commented, “These actions are designed to streamline the ordering and shipping process for our customers while reducing our operating costs. Our customers continue to seek ways to better serve their clients and offering all brands on the same delivery truck is in alignment with current market demands.”
Chromcraft Revington® businesses design, manufacture and import residential and commercial furniture marketed primarily in the U.S. The Company wholesales its residential furniture products under Chromcraft®, Cochrane®, Peters-Revington®, Southern Living®, and CR Kids & Beyond® primary brands. It sells commercial furniture under the Chromcraft® and Executive Office Concepts brands. The Company sources furniture from overseas suppliers, with domestic contract specialty facilities, and operates a U.S. manufacturing facility for its commercial furniture and motion based casual dining furniture in Mississippi and a manufacturing facility for office suites and other commercial furniture lines in California.
Certain information and statements contained in this news release are forward-looking statements. These forward-looking statements can be generally identified as such because they include future tense or dates, are not historical or current facts, or include words such as “believe,” “may,” “expect,” “intend,” “plan,” “anticipate,” or words of similar import. Forward-looking statements express management’s current expectations or forecasts of future events or outcomes, but are not guarantees of performance or outcomes and are subject to certain risks and uncertainties that could cause actual results or outcomes to differ materially from those in such statements.
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