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Home > Fortune 500 Companies > Masco Corporation
Masco Corporation
Masco Corporation is a publicly traded company having a good stock performances result. Today it is one of the world’s largest manufacturers of brand-name consumer products for the home improvement and new construction markets. Masco Corporation is a Fortune 500 stock listed company trading under the symbol MAS.
They are also a leading provider of services that include the sale and installation of insulation and other building products such as cabinetry, gutters, fireplaces, bath accessories, garage doors, shelving and windows. Their products include faucets, kitchen and bath cabinets, bath and shower units, architectural coatings, spas, windows, showering and plumbing specialties, electronic locksets and other hardware. The company has around 6,300 shareholders and 62,000 employees.
They achieved record sales in 2005 and that their share price reached an all-time high early in the year. After achieving record sales and income in 2004, it was their target to continue that trend. They believe that they will make up for a great majority of these cost increases by the end of the first half of 2006. The lag time in implementing selling price increases with larger customers in 2005. During 2005, they consolidated a number of their businesses to leverage synergies, share best practices and reduce costs where possible.
They also separated from companies that did not fit strategically. Business consolidations, together with divestitures have reduced their business units from 67 in early 2003 to less than 40 at year end of 2005. They continue to execute their strategic plan by Building Solutions for their customers through innovative products, services and processes to increase shareholder value.
The Company ended 2005 in a strong financial position with over 2 billion dollars in cash and marketable securities, even after using 986 million dollars to repurchase common shares in 2005. The Company generated 193 million dollars of cash from the net disposition of financial investments and 278 million dollars from the net disposition of certain businesses.
The Chairman and Chief executive officer Richard Manoogian share his father’s vision and pledge to excellence and have driven the Company’s growth to new heights in the past two decades. They also believe in supporting the communities in which they live and operate.
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