New Plant Reflects Increasing Demand for The Office by Stanley
STANLEYTOWN, Va., March 28 /PRNewswire/ -- Stanley Furniture Company, Inc.
(Nasdaq: STLY), a recognized leader in the rapidly growing home office product
category, today announced the opening of a factory dedicated exclusively to
the production of the company's popular Office by Stanley home office line.
Prompted by unprecedented growth in consumer demand, the 300,000-square-
foot facility near Martinsville, VA, is ergonomically designed for maximum
safety and comfort and features state-of-the-art equipment that will cut
production time in half. Already known for quick shipping, Stanley expects
the new plant -- its fifth production facility -- to achieve a long-term goal
of shipping customer orders in two weeks on average.
"Home office is one of the fastest-growing segments of our business, and
our goal is for this to be the most efficient manufacturing plant for home
office furniture in the country," says Albert L. Prillaman, Stanley chairman,
president and CEO. "We've invested in equipment that enables people to do
their jobs more efficiently, accurately and safely."
Among that new equipment are a computerized cut-off system to maximize
lumber yield, and four computerized routers that perform multiple cutting
operations. In addition, the new facility will help Stanley lower its costs
while further improving its quality performance, which already ranks among the
best in the industry.
With home offices projected to be in nearly 50 million American households
by the year 2002, the market is growing at a rate that challenges the industry
to provide quality home office furniture that's both functional and stylish.
Stanley's home office selections are unique in the industry in that they
complement the company's most popular furniture collections and thus can be
matched with every room in the house. The Office by Stanley features nearly
200 items and includes options to suit every need, from executive and writing
desks to modular wall systems and corner configurations.
Established in 1924, Stanley Furniture Company, Inc. is a leading
manufacturing of wood furniture targeted at the upper-medium price range of
the residential market. The company has manufacturing facilities in
Stanleytown and Martinsville, VA, and Robbinsville, Lexington and West End,
N.C. Stanley's common stock trades on the NASDAQ stock market under the symbol
STLY. Visit Stanley Furniture on the worldwide web at
http://www.stanleyfurniture.com.
Note: Certain statements made in this release are not based on historical
facts, but are forward-looking statements. These statements can be identified
by the use of forward-looking terminology such as "expects" or "will," or the
negative thereof or other variations thereon or comparable terminology, or by
discussions of strategy. These statements reflect the company's reasonable
judgment with respect to future events and are subject to risks and
uncertainties that could cause actual results to differ materially from those
in the forward-looking statements. Such risks and uncertainties include the
cyclical nature of the furniture industry, fluctuations in the price for
lumber, which is the most significant raw material used by the company,
competition in the furniture industry, capital costs, realizing expected
operating efficiencies from new equipment and general economic conditions.
SOURCE Stanley Furniture Company, Inc.
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Related links:
http://www.stanleyfurniture.com
Company News On-Call:
http://www.prnewswire.com/comp/117677.html or fax,
800-758-5804, ext. 117677
CONTACT:
Robin Campbell of Stanley Furniture Company,
540-627-2245; or Carol Eberly of Arnold Communications,
703-288-7360, for Stanley Furniture Company
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