From News Release:
DENISON, Tex. -- Kwikset® Corporation's facility in Denison, Texas recently announced to employees that it will implement a two-week holiday shutdown in manufacturing operations from December 17, 2007 until January 2, 2008. Over the past year, the decline in the US housing market, uncertainty in the mortgage and credit industries, a significant slow down in the US economic growth rate, and a resulting weakening in consumer confidence have led to a reduction in sales estimates. The shut down will allow the Company to better align inventory levels with 2008 production requirements. The Company will implement a concurrent shut down in its Mexicali manufacturing facility.
Kwikset expects to drive significant top-line sales in 2008 with two new product launches - K2TM and SmartSeriesTM. K2 is the Company's new commercial line that features a collection of stylish industrial door hardware solutions that includes cylindrical and tubular levers, deadbolts, door closers and exit devices. The SmartSeries platform includes SmartKeyTM with BumpGuardTM features, the Company's patented, revolutionary new technology that allows homeowners to re-key their own locks in seconds while maintaining the highest level of security, SmartScanTM, the first biometric scanning residential deadbolt on the market, and SmartCodeTM, personalized touchpad keyless entry deadbolt.
The Denison plant is part of Black & Decker® Hardware and Home Improvement Group (HHI) that includes door hardware by Kwikset - Trusted Name in Security for over 60 years, Baldwin® Hardware, Weiser Lock®, K2 Commercial Hardware, and Price Pfister® plumbing fixtures and accessories. The Denison facility produces components for Kwikset door locks and other Black & Decker products.