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In 2010 many of the woodworking industry market segments reported encouraging news. In our research of the FDM 300 companies we are seeing more secondary woodworking firms reporting 2010 sales similar to 2009, or down only slightly. Some companies are reporting stronger sales in 2010, a rarity in the previous year.
Among the companies reporting stronger sales in 2010: Best Chairs, Inc., Pacific Crest Industries, Spectrum Industries Inc., Norcraft Cos., Wellborn Forest Products, OFS Brands Inc., Affordable Interior Systems, WoodCrafters Home Products, LLC., MasterCraft Wood Products LLC, Nucraft Furniture Co., KI, Fetzer Architectural Woodwork, Barbosa Cabinets, and Exemplis Corp./SitOnIt.
Looking at specific markets, BIFMA reported that U.S. office furniture production was forecast to increase 4.4 percent in 2010 to $8.2 billion. In 2011, production is forecast to increase 8.3 percent to $8.9 billion.
Smith Leonard's November Furniture Insights report showed mixed results for the wood and furniture industries. From January to September 2010 residential furniture shipments were up to 8 percent over the same period a year earlier. Year-to-date cabinet sales were reported to be about even by KCMA for the same time frame.
It should be pointed out that any gains in 2010 and 2011 will be from much lower sales numbers in 2009. But just as we are starting out a new year, you have to start from somewhere.