martiniglass
Our company is one of the most recognized brand names in consumer housewares in the United States and the leading brand name in glass tableware. Its products are sold in major retail channels of distribution in the United States and Canada, including mass merchants, department stores and specialty housewares stores. Click here
Beyond sales in the United States and Canada, our company exports glassware to more than 80 countries around the world and provides technical assistance to a number of foreign glass tableware manufacturers. Our company is the leading provider of tabletop products to the foodservice industry through its broad glassware, dinnerware and flatware product offerings and extensive sales and distribution network, among the largest in the foodservice supply industry. The 1995 acquisition of china (dinnerware) and the 1997 acquisition of tableware (flatware and holloware) are examples of the company''s plan to expand in the foodservice industry through acquisitions. The company has achieved significant cost efficiencies and synergies at China and Tableware, leading to substantial improvements in the profitability of these operations.
The company imports and sells a full line of metal flatware and holloware and an assortment of ceramic dinnerware and other tabletop items, principally for the foodservice industry in the United States. In 1998, its net sales totaled $436.5 million. Inc is the largest producer of glass tableware in North America ;is the leading producer of tabletop products for the foodservice industry; exports to more than 100 countries; and provides technical assistance to glass tableware manufacturers around the world.1999 Business Imperatives he company''s business imperatives and financial goals for 1999 are to: reach $450 million in revenues, $77 million in income from operations and $44 million in net income, exclusive of acquisitions and restructuring charges improve returns from investments in inventories, receivables, equipment and facilities as measured by attaining higher Economic Value; and move closer to perfect order completion, with a 97% order-fill rate, on-time shipments the day promised, and error reduction of 25%;Investment Attributes Leading position in sales to foodservice users.
Our company has decided to move its acquisition efforts in other directions at this time, while continuing to pursue its agenda for internal growth. The company is terminating its efforts to purchase for $37.50 per share. This proposal was made to the Board of Directors on June 15, 1999. The proposed acquisition price represented a premium of 133 percent over the average price for shares for the 90-day period prior to the April 27, 1999, disclosure of ''s initial offer to purchase the company. "We remain convinced that the proposed combination would be in the best interest of building the businesses, improving the opportunities for its employees, customers and suppliers over the long term and maximizing value for its shareholders. However, it is evident that ''s entrenched management is intent on remaining a stand-alone company, regardless of the implications for its shareholders and employees." Commenting on ''s growth agenda, Meier stated, " is committed to strengthening its presence in its core markets.
Click here - Our company is one of the most recognized brand names in consumer housewares in the United States and the leading brand name in glass tableware. Its products are sold in major retail channels of distribution in the United States and Canada, including mass merchants, department stores and specialty housewares stores.
martiniglass
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