Fortune Brands prepares for construction spin-off

Fortune Brands prepares for construction spin-off

That’s much the same view as Simonton President Mark Savan.“The new structure will provide us with excellent opportunities for our brand to be a key participant in a stand-alone publicly-traded company purely focused on the home business magazine products market,” Savan said. “Simonton Windows is positioned for continued growth as a market leader in the new Home & Security business that’s being developed. The premier brands high golf school in the current Fortune Brands Home & Security group will serve as the cornerstones of an exceptional new company.”In a news release in December announcing the decision to spin off the home and security home business magazine business and the $1.2 billion golf business, Fortune Brands said that the company’s “proactive strategic initiatives and targeted investments” had enabled its businesses to emerge from the economic downturn “stronger than even we had anticipated.”“Each business unit is very well positioned now to compete and grow aggressively on its own as the economy recovers … and create significant value for shareholders,” said the company.“While the breadth and balance of our Donald and Kaymer Earn New World Rankings portfolio have served home business magazine shareholders very well, we see the potential for even greater value by separating our businesses into focused companies at a time when they have emerged from the economic downturn in such strong positions,” said Bruce Carbonari, chairman and CEO of Fortune Brands.