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These lines incorporate Olfa cutting tools, Granite Ware cookware, Chicago Cutlery, and OXO gadgets. Saxton confessed, nevertheless, that GHC would use the sale's proceeds to fund an acquisition. 

Terre Haute, Ind.. General Housewares Corp.'s strategy to market three of its cookware lines is targeted toward freeing resources to support the firm's stronger performing companies OXO gadgets, and Chicago Cutlery, Granite Ware enamel on steel cookware and Olfa precision cutting tools based on Paul Saxton, president of GHC. how to find infor

"Our Working results are much better in these other businesses," said Saxton. "We believe we've got a chance to leverage this with a substantial investment."

That Investment, he noted, is going to result in the redeployment of the assets which have been used to encourage that the cook ware lines now up available. While not ruling out the possibility of utilizing the profits from a sale for a buy, Saxton noted ,"We've got a lot on our plate night now concerning good powerful companies, with good strong brand names, and we would like to harness them to their fullest."

The Three reel outlines for the organization is seeking a buyer are its Magnalite Classic, Magnalite Professional and Wagner 1891 wrought iron, that represent approximately 15% of the corporation's sales. The company hasn't reported its 1995 amounts, however, industry estimates put them in $120 million.

The Company will retain its mass-market Granite Ware lineup, which according to industry resources, represents a major part. Of the corporation's business.

Even though Its Wagner business has kept solid market share, GHC's Magnalite companies have slipped substantially over the last several years, based on industry resources.

"Calphalon Has made tremendous inroads in the top end cookware organization, and stores brands have popped up such as Macy's Tools of the Trade that have eroded share," said Alexander Paris Jr., vice president and senior research analyst with Barrington Research Associates, a Chicago field brokerage and equity research company. "In addition, GHC has faced significant competition from Hong Kong imports. In that section of the company if you can not be number one or two, they weren't, it is rather difficult to compete"

Magnalite Professional, a top end line of anodized aluminum cookware has been at one time one of the leading manufacturers in that segment of the small company enterprise. However, retailers noticed Calphalon's aggressive advertising and advertising and advertising approaches put Magnalite Professional at a secondary place. That position was eroded further, retailers mentioned, by Meyer's Circulon and Analon entrances, which struck slightly lower prices than Calphalon with several attributes that allowed them to successfully differentiate.  this great blog

According Into Saxton, the price of supporting cookware lines left it more preferable for GHC to exit rather than increase its efforts to the amount required to compete.

"There is A lot of investment involved in the cookware business, especially with department stores," said Saxton. "We simply can not invest the funds required in that area."

In Addition to the Magnalite Professional and Magnalite Classic cookware lines, the business also has accredited the Magnalite Professional name to Innovation Group for a line of stainless steel cookware. Initially, GHC had marketed the line , but instead decided the licensing course as a more profitable choice.

"We Found the Magnalite title wasn't strong enough at the stainless steel segment," explained Ann Parish, vice president of merchandising for Kichen Works, a housewares specialty series. "We transported Magnalite stainlesssteel, and about the exact same time GHC was getting from it, so we made the choice not to take it anymore. Consumers have really strong allegiances to recognized brands in that business like Farberware and Revere and you then had the emerging high conclusion where All Clad is becoming powerful. So that was the way we decided to go."

Saxton Noted that in case of a purchase of its two Magnalite manufacturers, the licensing rights would be included. Critics of Innovation Group could not I;e reached for comment at the time.

While No details have been available regarding possible buyers, Saxton said,"We have had discussions with various companies both from the cookware company and outside"

He Clarified that the corporation will continue to create and inventory all three of those lines with the goal of having adequate inventory in stock to keep filing orders through a transition to another manufacturer. "Our goal is that our retail customers never believe it," he said. "They will only continue to get shipped." this great website

According To Barrington Research's Paris, the move must prove advantageous to GHC, relieving it of under performing product lines as well as saving the company the possible cost of updating its Sidney, Ohio, centre, which he described as,"old."

"If The price is right this could most likely be a great redeployment of assets," Paris stated.