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Delta Faucet parent struggles through rocky housing market

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On The Beat Industry News In Brief

The parent company of Carmel-based Delta Faucet continues to bump along the rocky bottom of the nation’s depressed housing market.

Masco Corp., based in Taylor, Mich., reported on Oct. 25 a third-quarter loss of 2 cents per share, compared with a year-ago profit of 14 cents per share. Sales declined 6 percent to $2 billion.

Plumbing was the company’s only product segment to see any growth, however modest. The segment posted sales of $686 million for the third quarter ended Sept. 30. That was a 1-percent gain over the year-ago quarter.
 

Delta headquarters Delta Faucet’s parent company, Masco Corp., is struggling with the depressed housing market. (IBJ File Photo)

Sales declined in the other four product segments, especially cabinets and installation, which saw respective drops of 18 percent and 12 percent. Masco said the growth in plumbing is largely from overseas sales of its high-end Hansgrohe brand.

The company relies on housing starts, which hit a historic low in 2009. Although some housing markets have been slower than expected this year, CEO Tim Wadhams said he still expects total starts of 575,000 to 625,000 in 2010.

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  1. John, unfortunately CTRWD wants to put the tank(s) right next to a nature preserve and at the southern entrance to Carmel off of Keystone. Not exactly the kind of message you want to send to residents and visitors (come see our tanks as you enter our city and we build stuff in nature preserves...

  2. 85 feet for an ambitious project? I could shoot ej*culate farther than that.

  3. I tried, can't take it anymore. Untill Katz is replaced I can't listen anymore.

  4. Perhaps, but they've had a very active program to reduce rainwater/sump pump inflows for a number of years. But you are correct that controlling these peak flows will require spending more money - surge tanks, lines or removing storm water inflow at the source.

  5. All sewage goes to the Carmel treatment plant on the White River at 96th St. Rainfall should not affect sewage flows, but somehow it does - and the increased rate is more than the plant can handle a few times each year. One big source is typically homeowners who have their sump pumps connect into the sanitary sewer line rather than to the storm sewer line or yard. So we (Carmel and Clay Twp) need someway to hold the excess flow for a few days until the plant can process this material. Carmel wants the surge tank located at the treatment plant but than means an expensive underground line has to be installed through residential areas while CTRWD wants the surge tank located further 'upstream' from the treatment plant which costs less. Either solution works from an environmental control perspective. The less expensive solution means some people would likely have an unsightly tank near them. Carmel wants the more expensive solution - surprise!

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