- Duracraft
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Duracraft is a Southboro, Massachusetts-based company that makes home appliances, such as fans, humidifiers and air conditioners. The company was founded in the late 1980s by Tim Chen, Bernard Chiu and Ronald Izen. Duracraft manufactured its products in the United States, as well as China and South America.
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Sales
Early sales of Duracraft were through Sears, Eckerds, and Kmart. Today Duracraft products are sold online as well as through Walmart and CVS Pharmacy, and many parts are sold online.
Initial public offering
In 1993, Duracraft had an initial public offering. The company received recognition from numerous organizations, including Fortune.
Sale to Honeywell
In 1996, Honeywell approached Duracraft, unsolicited with an offer. Duracraft was sold to Honeywell for US$283 million.
Product Recall
In 1997, Duracraft was forced to recall numerous humidifiers because of issues with overheating and the humidifiers producing smoke. The company offered replacement units or replacement parts to correct the safety issue. No injuries or deaths were reported from the humidifiers.
Kaz
In 2002, Honeywell's Home Envornment business and Duracraft were purchased by Kaz Incorporated, who markets their products. These include market-leading Honeywell air purifiers, as well as, a strong range of portable Honeywell fans, humidifiers, dehumidifiers and heaters that are sold throughout the world. This acquisition also added Asia-based manufacturing capabilities that have fueled the company's ability to enter new markets competitively.
References
Categories:- Companies based in Massachusetts
- Southborough, Massachusetts
- United States manufacturing company stubs
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