Tenon mulls mergers, acquisitions as US housing recovery picks up

Thu, 04 Dec 2014

By Suze Metherell Dec. 4 (BusinessDesk) - Tenon, the wood mouldings manufacturer which posted its first annual profit in ten years, is considering merger or acquisition opportunities to capitalise on the recovering US housing market. The Taupo-based company returned to profitability this year, as the US housing market, where it gets 90 percent of revenue, began to recover after being hit by the US sub-prime mortgage fiasco and subsequent global financial crisis. As the market picks up Tenon expects to see more merger and acquisition acti...

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