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Haworth's sales declined 32% to $1.11 billion in 2009

Friday 5 February 2010

Haworth Inc. followed the rest of the office furniture industry in 2009, recording a 32.7 percent sales decline.
The Holland-based Haworth this morning reported 2009 global sales of $1.11 billion, which compares with $1.65 billion in 2008 and $1.66 billion in 2007.

The results “reflect the economic crisis experienced by the entire industry,” Haworth President and CEO Franco Bianchi said.

\"2009 was certainly a challenging year for the industry and for Haworth,\" Bianchi said.

Even with the difficult economy, Haworth was able to improve market share in North America in 2009 and launched several new products globally, Bianchi said. The company last year also strengthened lean manufacturing practices and further integrated global operations, and is developing new products for introduction in 2010, he said.

The family-owned Haworth, as it scaled back operations to match \"a market that was in severe contraction,\" was able to maintain a strong financial position, Bianchi said. As the U.S. economy shows signs that it\'s slowly improving, Haworth is \"very well\" positioned for any rebound in business that may occur this year for the office furniture industry.

\"We\'ve been busy trying to, at the same time, prepare a strong foundation for the future,\" Bianchi said. \"2010 will be a little easier, but it will be tough.\"

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