KENT, Wash.--(BUSINESS WIRE)--April 8, 2002--BPI Inc., which has
been offering total systems furniture solutions to the small and
mid-size business market for more than 20 years, will implement its
new brand name, MAXON, on July 1, 2002.
"In the continuing evolution of our product, brand and corporate
identity, the Panel Concepts and BPI brands will be succeeded by the
MAXON brand," said Jean M. Reynolds, President. "The unified MAXON
brand will continue to promote our strengths of speed and value. Our
commitment to creating a powerful collection of product lines,
encompassing a broad spectrum of the office furniture systems
industry, is more clearly reflected in our new identity."
Along with the name change, the MAXON brand launch will encompass
a new mission statement, brand promise and value proposition that
focus on creating value and maximizing speed. These elements will
continue to guide all MAXON branded sales, marketing and operational
initiatives. Concurrent with the brand change will be an entire new
identity program, including a new logo, comprehensive sales support
materials and new Website.
The MAXON brand is most closely associated with panel systems and
related products, and is manufactured in plants in Kent, Washington
and Salisbury, North Carolina. The product line-up is certain to meet
the needs of any panel system buyer.
Utilizing "Just-In-Time-Manufacturing", virtually all MAXON
products can be shipped in five business days or less through its
QuickShip program. This capability, coupled with product that is easy
to specify, install and reconfigure, makes it remarkably easy to
purchase MAXON branded products.
"Our distribution model through our dealer network will remain
largely unchanged," said Reynolds. "Besides rolling out new products
at NeoCon this year, all of our product lines will feature an expanded
array of fabrics and finishes as a result of the unification of
About the Company
In 1986, BPI Inc. was purchased by HON INDUSTRIES Inc. (NYSE:HNI)
Seeking additional strengths and opportunities in the office systems
market, BPI acquired Panel Concepts, Inc., of Santa Ana, California in
1998, a company well known in the office furniture business for their
innovative products. The Company specializes in
"Just-In-Time-Manufacturing" which enables the company to produce
quality products at a great value. Maxon products are provided via GSA
Contracts, offering excellent and affordable products for government,
education and health facilities.
HON INDUSTRIES Inc. is the nation's largest producer of
value-priced office furniture and the third largest office furniture
manufacturer in North America. HON INDUSTRIES is also the nation's
leading manufacturer and marketer of gas- and wood-burning fireplaces.
HON INDUSTRIES has a strong commitment to customer satisfaction and to
enhancing shareholder value. HON INDUSTRIES was named one of the 400
Best Performing Big Companies in America by Forbes' Magazine in 2002,
and one of the World's Top 100 Best-Managed Companies by Industry Week
for 2001. HON INDUSTRIES' common stock is traded on the New York Stock
Exchange under the symbol HNI.
Statements in this news release that are not strictly historical,
including statements as to plans, objectives, and future financial
performance, are "forward-looking" statements that are made pursuant
to the safe harbor provisions of the Private Securities Litigation
Reform Act of 1995. Forward-looking statements involve known and
unknown risks, which may cause the Company's actual results in the
future to differ materially from expected results, particularly those
with respect to expected earnings for the remainder of the fiscal
year. These risks include, among others: the Company's ability to
realize financial benefits from reducing its cost structure to achieve
expected financial benefit from its contract sector strategy, to
introduce and obtain sales from new products; and other factors
described in the Company's annual and quarterly reports filed with the
Securities and Exchange Commission on Forms 10-K and 10-Q.
||BPI Inc., Kent
||Josh Slowik, 253/395-4199
||Steve Gelb, 253/395-4139