s & p 500 component founded 1929 founder alex manoogian headquarters taylor michigan u.s. key people richard manoogian chairman emeritus 1 keith j. allman president and chief executive officer number of employees 32 500 website http www.masco.com home improvement portal masco headquarters taylor michigan masco corporation is a manufacturer of products for the home improvement and new home construction markets . comprising more than 20 companies the masco conglomerate operates nearly 60 manufacturing facilities in the united states and over 20 in other parts of the world . since 1969 it trades on the nyse . 2 under the leadership of richard manoogian the company grew exponentially and subsequently joined the fortune 500 list of largest u.s. corporations . 3 as of 2007 masco employed approximately 32 500 employees and has approximately 6 000 shareholders . 4 the company is currently ranked at 338 on the fortune 500 . 5 as of december 31 2007 masco had a little over ten billion dollars in assets and the company s total revenue was 11.77 billion . total sales for the company in 2009 were 7.8 billion . 4 6 in 2010 the company had worldwide sales of 7.6 billion and approximately 90 manufacturing facilities . the current ceo is keith j. allman . 7 contents 1 history 1.1 founding and early history 1.2 masco in the 1950s 1960s and 1970s 1.3 reorganizing in the 1980s and 1990s 1.4 1999 present 2 masco businesses 2.1 cabinets and related products 2.2 plumbing products 2.3 installation and other services 2.4 decorative architectural products 2.5 other specialty products 3 notes 4 references 5 external links history edit founding and early history edit initially organized in 1929 as masco screw products company by alex manoogian in taylor michigan . the company went public on the detroit stock exchange in 1936 . masco screw products company produced machined automotive parts for the detroit automotive companies . 8 the company s first contract came in 1930 with the hudson motor company valued at 7 000.00 . in 1935 the company s sales reached 100 000 dollars . the following year masco became a publicly traded company traded on the detroit stock exchange . in 1942 masco s sales exceeded 1 000 000 dollars . 9 masco screw products grew into the masco corporation a large corporate holding company for numerous acquisitions . small family run businesses were bought out by masco corporation with cash and stock in the parent corporation . between 1997 and 2002 richard manoogian who succeeded his father as chief executive acquired 42 companies valued at a total of 10 billion . alex manoogian and his wife donated the manoogian mansion to the city of detroit as the official residence of the mayor . masco in the 1950s 1960s and 1970s edit in 1952 manoogian began redesigning the single handle washerless faucet . 9 the faucet he created was one of the very first single handle hot cold faucets ; it is now known as delta . delta s television advertisements were a first for any faucet and made the product a successful seller . masco went on to capture the mass market as sales moved from plumbing wholesalers to retail stores . 8 these steps of production and marketing of the delta faucet began in 1954 and four years later delta faucet s annual sales exceeded a million dollars . 9 this was the last year that the company would be referred to as masco screw products company . alex manoogian founder acted as president and chief operating officer coo from 1929 until 1967 . in 1958 his son richard joined the company . richard having spent nine years with the company succeeded his father one year after the company moved to taylor michigan . alex died on july 10 1996 the same year that his son richard passed on his coo role to ray kennedy allowing him to assume the position of chief executive officer . in response to kennedy s death alan barry was appointed as masco s president and coo on april 8 2003 . 9 in 1961 masco screw products company changed its name to masco corporation . in 1967 they moved to their current corporate headquarters in taylor michigan . for the first time in 1969 masco was listed on the new york stock exchange . in 1975 masco first appeared on the fortune 500 and masco s annual sales exceeded one billion dollars for the first time ever in 1984 . one year later masco began manufacturing cabinets . 9 reorganizing in the 1980s and 1990s edit in 1982 masco s earnings did not grow for the first time in 26 years . the next year however in 1983 earnings climbed again for this maker of faucets and diverse product mix of builders hardware because of increased housing starts and a strong do it yourself market . 10 in 1985 masco purchased the remaining outstanding stock of flint & walling inc after purchasing 30 % in 1971 and controlling interest in 1978 . in 1986 masco started a home furnishings division by buying henredon for 298 million and drexel heritage for 356 million . other companies added to the division were lexington home brands hickorycraft marge carson la barge and marbro in 1987 and fabric company robert allen ametex in 1988 . in 1989 universal furniture benchcraft and cal style were added in a 480 million deal as well as sunbury textiles . the division added berkline in 1994 and sold marge carson and cal style in 1995 . 11 masco reorganized its numerous companies ; in 1988 the specialty products divisions of masco industries and masco corporation combined to form trimas corporation . three years after this merger trimas was listed on the new york stock exchange nyse . the remainder of masco industries became masco tech inc. and in 1993 was listed on the nyse . at that point in time three different masco companies existed masco corp. masco tech . and trimas corp. two years later masco entered the services business . trimas and masco tech merged to form one company offering a wide array of products . masco announced a 2 for 1 stock split which was the ninth time the company had split its shares since 1960 and was the 40th year in a row that its dividends were increased . this merger left two companies masco tech . and masco corp. citation needed in 1996 masco sold most of its home furnishings division to investors for 1.1 billion creating a new company called lifestyle furnishings international . 11 in 1999 masco involved itself in the architectural coatings business and the company s annual sales topped five billion dollars for the first time . 1999 present edit in 1999 masco corp acquired arrow fastener co. inc. a hand tool company expanding its business in the hardware category . in 2000 masco tech . was purchased by a heartland industrial partners a private equity firm and its name was changed to metaldyne . metaldyne is headquartered in plymouth michigan . masco also divested flint & walling inc this year to zoeller company . in 2001 masco corp. or simply masco entered the windows business and had operating profits beyond a billion dollars . 9 late in the year masco announced it would write down the value of its stake in lifestyle furnishings international by 460 million since its equity share was only 15 percent with the rest being debt . lifestyle the third largest furniture maker in the united states with 2 billion in sales had sold universal furniture to lacquer craft . 11 then masco announced furniture brands international would buy drexel heritage henredon and maitland smith for 275 million with management of berkline benchcraft and sunbury taking over those companies . lifestyle continued to own lexington robert allen ametex and the beacon hill showrooms . 12 in 2003 masco s annual sales topped ten billion dollars and masco increased its quarterly dividend for the 47th consecutive year . this ranked them in the top ten publicly owned companies achieving increased annual consecutive dividends . 9 throughout his time with the company richard manoogian has achieved a net worth of approximately 750 million . he has been ranked as high as number five on the forbes 400 list of richest manufacturers . 13 the manoogian family is no longer involved in the management of the company . masco businesses edit cabinets and related products edit north america denova kraftmaid cabinetry merillat quality cabinets international moores furniture group ltd. plumbing products edit north america brizo brasscraft manufacturing company brasstech inc. caldera spas delta faucet company endless pools 14 ginger hot spring spas masco canada ltd. mirolin industries corporation newport brass peerless watkins manufacturing company hot spring spas caldera spas international axor bristan hansgrohe se heritage bathrooms 15 h ppe installation and other services edit environments for living masco contractor services service partners decorative architectural products edit north america behr process corporation kilz liberty hardware other specialty products edit north america arrow fastener company duraflex milgard windows & doors notes edit masco s manoogian retires as executive chairman . forbes . associated press . june 29 2009 . retrieved 2009 07 01 . in 1969 masco corporation was listed on the new york stock exchange see more at 1 under the leadership of richard manoogian our founder s son the company achieved dramatic growth and joined the fortune 500 list of largest u.s. corporations . see more at 2 a b masco 2007 . corporate information . retrieved october 17 2008 fortune 500 338 . retrieved february 20 2013 google finance . october 27 2008 . retrieved october 27 2008 http masco.com news news stream mascos board of directors elects keith j allman to succeed timothy wadhams a b tatge m. killian a. 2002 december . a leaky affair . forbes 170 12 89 96 . a b c d e f g masco historical timeline 2007 . retrieved october 17 2008 campanella f. w. 1984 january . the tap s back on housing autos return masco to habit of higher net electronic version . barron s national business and financial weekly 64 5 44 . retrieved october 17 2008 from abi inform global database . document id 957493 . fortune 2008 . a b c mcintosh jay 2001 11 04 . lifestyle value plummets . furniture today . retrieved 2011 01 03 . mcintosh jay 2001 11 04 . lifestyle breaking up . furniture today . retrieved 2011 01 03 . newcomb p. kahn a. 1999 october . the forbes 400 manufacturers electronic version . forbes 164 9 338 340 . retrieved october 17 2008 from abi inform global database . document id 45158646 . http www.endlesspoolsblog.com 2015 02 hot tub leader watkins manufacturing.html a division of bristan group limited references edit schoenberger c. r. 2004 september . un building masco ; electronic version . forbes 174 5 142 144 . retrieved october 17 2008 from abi inform global database . document id 691965051 . wall street journal . october 27 2008 . retrieved october 27 2008 wotapka d. dunham k. j. 2007 december 19 . masco suffers squeeze once put on contractors ; builders cut spending press for lower prices ; surviving the downturn . wall street journal eastern edition p. b. 6 . retrieved october 17 2008 from abi inform global database . document id 1400804081 . external links edit masco corporation company website retrieved from https en.wikipedia.org w index.php title masco & oldid 726142300 categories companies listed on the new york stock exchangemanufacturing companies based in michigancompanies based in wayne county michigancompanies established in 1929private equity portfolio companieshidden categories all articles with unsourced statementsarticles with unsourced statements from january 2012 navigation menu personal tools not logged intalkcontributionscreate accountlog in namespaces article talk variants views read edit view history more search navigation main pagecontentsfeatured contentcurrent eventsrandom articledonate to wikipediawikipedia store interaction helpabout