Thanks to innovative products, consistent investments, a strong market presence and the commitment of our staff, the 2015/2016 financial year ending June 30, 2016, was a successful one for Blum, Inc. The company experienced positive growth and increased sales by 7.3% to a total of $262.8 million in the United States. Blum, Inc., employs 385 people and 16 apprentices at the Stanley, NC facility.
Business in the US remained strong and the developments in kitchen cabinet industry continued in an optimistic manner. A rise in housing starts was also reflective of the positive momentum that the company accomplished.
During the year Blum made a sizeable investment in a 1.84 Megawatt solar panel system, advancing Blum’s commitment to minimize its impact on the environment. The system is comprised of 6,600 solar panels that generate approximately 4,200,000 kilowatt hours of electricity per year and go into the grid to provide power to 300 homes in the area. In the coming financial year, Blum, Inc. will also invest in new equipment for the manufacturing of hinges and drawer runners, complete a modernization of its high-bay warehouse, and also hire approximately 40 new employees at the facility.
The Blum Group experienced a worldwide revenue increase of 6.5% to $1.838 billion during the 2015/2016 financial year. As of June 30, 2016, the Blum Group employed 6,929 employees, which includes 309 apprentices. Investments by the Blum Group totalled $192.74 million in financial year 2015/2016. Sales by the various business regions were: EU 50%, USA 15%, and other markets 35%.
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