Jacuzzi Brands, Inc. Dedicates State-of-the-Art Manufacturing Facility in Malta
WEST PALM BEACH, FL -- 1/6/2005 -- Jacuzzi Brands, Inc. (NYSE: JJZ) yesterday dedicated its recently expanded state-of-the-art manufacturing facility in the city of Marsa in Malta. The plant manufactures a new line of Aegean(R) stainless steel kitchen sinks, which are sold under the Astracast(R) brand name. Jacuzzi Brands Chairman and Chief Executive Officer, David H. Clarke, and The Honorable Austin Gatt LL.D., the Minister of Investments, Industry and Information Technology of Malta, presided over the official inauguration.
Donald C. Devine, Jacuzzi Brands President and Chief Operating Officer, commented, “We were honored by the presence of Honorable Mr. Gatt at the dedication of our expanded manufacturing facility. We are also grateful for the government’s support of this initiative, which included a substantial investment in the land that enabled a doubling of the plant’s floor space and strengthened the existing infrastructure.”
Over the last 12 months, Jacuzzi Brands has invested approximately $4.5 million in new technology, tooling and processing equipment in the Malta plant, improving capacity by more than 50%. These improvements have led to greater efficiencies and material utilization at the plant. The facility is expected to enhance the Company’s competitive position and generate $10-$15 million in incremental stainless steel sink sales in each of the next two years"
Jacuzzi Brands’ expansion of the plant is in direct response to a worldwide increase in demand by consumers for stainless steel sinks, especially in Europe. Astracast(R)’s strength in composite sinks provided a platform from which the Company can further expand its brand into stainless steel. The Company’s engineering team also developed a unique manufacturing process that combines the benefits of mass production with those of customer-specific mold customization.
In September 2004, the Aegean(R) models were launched into U.K. mass market channels. In November 2004, an expanded Aegean(R) line was introduced in Spain, Greece and France. In 2005, Astracast(R) expects to enter the U.S. home center channel, and also introduce products for the U.K. and European high-end market.
Mr. Devine concluded: “Malta’s established marine transportation infrastructure enables us to efficiently serve Europe, Asia and the United States. The country’s productive, highly skilled work force is one of the nation’s key natural resources, yet the cost of labor here is significantly less than in other parts of Europe. These factors, along with Malta recently joining the European Union, allowed us to profitably undertake this expansion.”
With facilities in Birstall, U.K. and Malta, Astracast(R) is the sink category leader for Jacuzzi Brands, manufacturing composite, acrylic, ceramic and stainless steel sinks for Astracast(R) in the U.K. and Europe and for the Jacuzzi(R) and Eljer(R) brands in the U.S. The Malta facility now includes a contemporary, free-flow style showroom displaying the full product line of Astracast(R), which will be used as a showcase for customers worldwide.
ABOUT JACUZZI BRANDS, INC.
Jacuzzi Brands, Inc., through its subsidiaries, is a global manufacturer and distributor of branded bath and plumbing products for the residential, commercial and institutional markets. These include whirlpool baths, spas, showers, sanitary ware and bathtubs, as well as professional grade drainage, water control, commercial faucets and other plumbing products. We also manufacture premium vacuum cleaner systems. Our products are marketed under our portfolio of brand names, including JACUZZI(R), SUNDANCE(R), ELJER(R), ZURN(R), ASTRACAST(R) and RAINBOW(R). Learn more at www.jacuzzibrands.com.
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including the Company’s current expectations with respect to future market conditions, future operating results and other plans. Words such as “expects,” “intends,” “anticipates,” “plans,” “projects,” “probably,” “believes,” “estimates,” “may,” “will,” “should,” “shall,” and similar expressions typically identify such forward-looking statements. Even though the Company believes the expectations reflected in such forward-looking statements are based on reasonable assumptions, it can give no assurance that its expectations will be attained. In particular, various economic and competitive factors, including those outside our control, such as interest rates, foreign currency exchange rates, inflation rates, instability in domestic and foreign financial markets, acts of war, terrorist acts, outbreaks of new diseases, consumer spending patterns, energy costs and availability, freight costs, availability of consumer and commercial credit, adverse weather, levels of residential and commercial construction, changes in raw material and component costs, and the credit worthiness of our customers, insurers, and investees, and other factors contained in the Company’s filings with the Securities and Exchange Commission could cause our actual results in fiscal 2005 and in future years to differ materially from those expressed in this press release.
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- Diana Burton
- VP - Investor Relations
- Jacuzzi Brands, Inc.
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