|IndustryWeek Magazine Names HNI Corporation as One of 50 Best U.S. Manufacturers|
MUSCATINE, Iowa--(BUSINESS WIRE)--May 26, 2006--HNI Corporation (NYSE:HNI) announced today that IndustryWeek magazine has again named the Corporation one of its 50 Best U.S. Manufacturers. HNI has been named all four years since inception of the award.
"We are pleased to be recognized in this prestigious ranking of manufacturers," said Stan A. Askren, HNI Corporation Chairman, President and CEO. "The rankings reflect our commitment to ongoing continuous improvement and creating long-term value for our stakeholders. We thank each of our members for their contribution to achieving this recognition."
IndustryWeek's annual recognition of the 50 Best Manufacturing Companies, published in its June 2006 publication, is a ranking of top performers culled from a list of the 500 largest manufacturing companies in the United States. The ranking considered financial measures that pertain to operational efficiency and market success. Market metrics include revenue growth, return on equity (ROE), and profit margin. Manufacturing specific metrics were chosen to address the capital/asset intensive nature of manufacturing including asset turnover, inventory turnover, and return on assets (ROA).
The Corporation remains focused on creating long-term shareholder value through investment in building brands, product solutions and selling models, enhancing its strong member-owner culture, and remaining focused on its long-standing rapid continuous improvement programs to build best total cost and a lean enterprise.
HNI Corporation is a NYSE traded company providing products and solutions for the home and workplace environments. HNI Corporation is the second largest office furniture manufacturer in the world and is also the nation's leading manufacturer and marketer of gas- and wood-burning fireplaces. The Corporation's strong brands, including HON(R), Allsteel(R), Gunlocke(R), Paoli(R), Heatilator(R), Heat & Glo(TM), and Quadra-Fire(R), have leading positions in their markets. HNI Corporation is committed to maintaining its long-standing corporate values of integrity, financial soundness and a culture of service and responsiveness. By doing so, in 2006 the Corporation was recognized by Fortune Magazine as one of America's Most Admired Companies in the furniture industry, and was recognized by Forbes Magazine for the eighth consecutive year as one of the 400 Best Big Companies in America. In 2006, the Corporation was recognized by IndustryWeek as one of the 50 Best Manufacturing Companies for the fourth consecutive year. HNI Corporation's common stock is traded on the New York Stock Exchange under the symbol HNI. More information can be found on the Corporation's website at www.hnicorp.com.
CONTACT: HNI Corporation, Muscatine Jerald K. Dittmer, 563-272-7400 or Investor Relations: Melinda C. Ellsworth, 563-272-7406 SOURCE: HNI Corporation