Nortek Inc has announced the formation of Core Brands, a new group that combines the product and marketing strengths of 10 of the company's brands'
The brands include Aton, BlueBOLT, Elan, Furman, Niles, Panamax, Proficient, SpeakerCraft, Sunfire and Xantech, which between them have more than 190 years of combined experience in the residential, commercial and professional markets and over 4,300 direct customer accounts in multiple distribution channels in the US and worldwide.
"The formation of Core Brands reflects the strategic refocusing currently taking place as we pursue new markets and new opportunities to serve our dealers, channel partners and end users," said Nortek president and chief executive officer Michael J. Clarke. "We expect that combining the unique capabilities of each of these 10 formidable brands will deliver new and powerful benefits they can only achieve as a group."
"Operating as Core Brands will enable us to leverage economies of scale while strengthening our ability to invest in launching innovative technologies and a range of new marketing programs designed to increase the value, clarity and acceptance of each brand," said Sean Burke, group president of Nortek's Technology Solutions segment.