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NEWS BRIEFS.

NEW CEO AT KNAPE AND VOGT

William R. Dutmers has been elected president and chief executive officer of Knape and Vogt, a storage manufacturing company. Dutmers had previously held the title of chairman. Allan E. Perry has resigned as president and CEO and director of the company.

Dutmers has been a member of the Knape and Vogt board since 1996 and was elected chairman in January 1998.

NORTH AMERICAN DETECTORS REPORTS SALES INCREASE, OPERATING LOSS

North American Detectors Inc. has recorded a sales jump of 84 percent for the first nine months of fiscal 1999, which were marred by an operating loss of $1 million. During this period, the company has been consolidating three companies to become one, making them one of the largest manufacturers of carbon monoxide alarms, smoke alarms and explosive gas detectors in the world.

For the first nine months, ending April 30, the company had sales of $25.8 million, as compared with sales of $14 million for the same period last year.

Restructuring charges involved with the acquisition of Dicon, a supplier of smoke and carbon monoxide alarms in Europe, accounted for a net loss of $5.5 million for the same nine months, as compared with a net income of $931 thousand for the nine months of the previous year.

The company is anticipating an operating loss of about $1.2 million for the fourth quarter of 1999. It is, however, expecting a profitable first quarter of 2000, ending October 31, 1999.
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Publication:HFN The Weekly Newspaper for the Home Furnishing Network
Date:Jun 28, 1999
Words:248
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