BPI/Panel Concepts Announces New Brand Identity.Business Editors KENT, Wash.--(BUSINESS WIRE)--April 8, 2002 BPI Inc., which has been offering total systems furniture solutions to the small and mid-size business market for more than 20 years, will implement its new brand name, MAXON, on July 1, 2002. "In the continuing evolution of our product, brand and corporate identity, the Panel Concepts and BPI brands will be succeeded by the MAXON brand," said Jean M. Reynolds, President. "The unified MAXON brand will continue to promote our strengths of speed and value. Our commitment to creating a powerful collection of product lines, encompassing a broad spectrum of the office furniture systems industry, is more clearly reflected in our new identity." Along with the name change, the MAXON brand launch will encompass a new mission statement, brand promise and value proposition that focus on creating value and maximizing speed. These elements will continue to guide all MAXON branded sales, marketing and operational initiatives. Concurrent with the brand change will be an entire new identity program, including a new logo, comprehensive sales support materials and new Website. The MAXON brand is most closely associated with panel systems and related products, and is manufactured in plants in Kent, Washington Kent is a city located in King County, Washington, United States. The second largest city in south King County and the eighth largest in the state, Kent has the third-largest industrial area in the United States. and Salisbury, North Carolina Salisbury is a city in Rowan County in North Carolina, a state of the United States of America. The population was 26,462 in 2000. It is the county seat of Rowan CountyGR6. . The product line-up is certain to meet the needs of any panel system buyer. Utilizing "Just-In-Time-Manufacturing", virtually all MAXON products can be shipped in five business days or less through its QuickShip program. This capability, coupled with product that is easy to specify, install and reconfigure, makes it remarkably easy to purchase MAXON branded products. "Our distribution model through our dealer network will remain largely unchanged," said Reynolds. "Besides rolling out new products at NeoCon ne·o·con n. Informal A neoconservative: "The neocons and hard-liners have long felt that no Soviet leader could be trusted" New York Times. this year, all of our product lines will feature an expanded array of fabrics and finishes as a result of the unification of programs." About the Company In 1986, BPI Inc. was purchased by HON INDUSTRIES Inc. (NYSE NYSE See: New York Stock Exchange :HNI HNI Heinz Nixdorf Institut (Germany) HNI HealthNet International HNI Hajime No Ippo (anime) HNI High Networth Individual HNI Home Network Identity HNI Havelock North Intermediate School ) Seeking additional strengths and opportunities in the office systems market, BPI acquired Panel Concepts, Inc., of Santa Ana, California Santa Ana is the most populous city in Orange County, California and is the county seat. It lies approximately 10 miles inland from the Pacific Ocean, on the largely seasonal Santa Ana River. in 1998, a company well known in the office furniture business for their innovative products. The Company specializes in "Just-In-Time-Manufacturing" which enables the company to produce quality products at a great value. Maxon products are provided via GSA (1) (Global mobile Suppliers Association, Sawbridgeworth, U.K., www.gsacom.com) A membership organization of suppliers of GSM products and services. Its goal is to promote GSM as the worldwide mobile communications standard. See GSM Association and GSM. Contracts, offering excellent and affordable products for government, education and health facilities. HON INDUSTRIES Inc. is the nation's largest producer of value-priced office furniture and the third largest office furniture manufacturer in North America North America, third largest continent (1990 est. pop. 365,000,000), c.9,400,000 sq mi (24,346,000 sq km), the northern of the two continents of the Western Hemisphere. . HON INDUSTRIES is also the nation's leading manufacturer and marketer of gas- and wood-burning fireplaces. HON INDUSTRIES has a strong commitment to customer satisfaction and to enhancing shareholder value. HON INDUSTRIES was named one of the 400 Best Performing Big Companies in America by Forbes' Magazine in 2002, and one of the World's Top 100 Best-Managed Companies by Industry Week for 2001. HON INDUSTRIES' common stock is traded on the New York Stock Exchange New York Stock Exchange (NYSE) World's largest marketplace for securities. The exchange began as an informal meeting of 24 men in 1792 on what is now Wall Street in New York City. under the symbol HNI. Forward-looking Statements Statements in this news release that are not strictly historical, including statements as to plans, objectives, and future financial performance, are "forward-looking" statements that are made pursuant to the safe harbor Safe Harbor 1. A legal provision to reduce or eliminate liability as long as good faith is demonstrated. 2. A form of shark repellent implemented by a target company acquiring a business that is so poorly regulated that the target itself is less attractive. provisions of the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995. Forward-looking statements involve known and unknown risks, which may cause the Company's actual results in the future to differ materially from expected results, particularly those with respect to expected earnings for the remainder of the fiscal year. These risks include, among others: the Company's ability to realize financial benefits from reducing its cost structure to achieve expected financial benefit from its contract sector strategy, to introduce and obtain sales from new products; and other factors described in the Company's annual and quarterly reports filed with the Securities and Exchange Commission on Forms 10-K and 10-Q. |
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