About the Company
Masco Corporation is an American company that manufactures and sells home improvement and building products. Founded in 1929 by Alex Manoogian as Masco Screw Products Company, it has more than 20 subsidiaries and operates over 25 manufacturing facilities in the USA. Headquartered in Livonia, Michigan, it employs more than 18,000 workers worldwide and consists of 10 international manufacturing units. Masco Corporation shares are traded on the New York Stock Exchange (NYSE) under the ticker symbol "MAS". It also became a component of the S & P 500 index on June 30th, 1981.
Its operations are divided into two sections: Decorative Architectural Elements and Plumbing Products. The company's second segment includes products like faucets, handheld showers, shower enclosures, and more. Besides these, it also produces and markets speciality paints, primers, and waterproofing products. Some of this company's main subsidiaries include KraftMaid, Behr, Hansgrohe, Brasscraft Manufacturing Company and Delta Faucet Company.
When MAS started out as Masco Screw Products Company in 1929, it used to produce automotive parts for Detroit's automobile industry. However, in 1961, the company changed its name to Masco Corporation and shifted its headquarters from Detroit to Taylor.
In 1969, MAS was listed on NYSE for the very first time. It expanded its operations and started manufacturing cabinets in 1985. Moreover, it also ventured into the hardware business after acquiring Arrow Fastener, Inc. in 1999. MAS acquired over 15 companies; seven of such acquisitions came from private equity firms. It completed its largest acquisition when it acquired Tvilum for approximately $300 million. In 1996, MAS sold a large portion of its Home Furnishings for an estimated $1 billion and incorporated a new company, Lifestyle Furnishings International. Masco’s most targeted sectors are chemicals and building materials.
Five years later, it had a go at the window business and managed to earn operating profits worth more than $1 billion. In 2011, a subsidiary of MAS, Delta Faucet Company, was the recipient of the Indiana Innovation Award for introducing its trademark technology - Touch2O®. In 2020, Masco Corporation ranked 384th on the list of Fortune 500 companies.;
|Industry||Building Products & Equipment|