For those really tough office meetings, there's Steelcase -- a top office furniture maker worldwide. Through its Systems and Storage segment the company manufactures and sells panel-based and freestanding furniture, such as storage systems, tables, and ergonomic work tools. Its Seating segment makes casual and shared seating and specialty chairs for the health care and education industries. The company's major brands include Coalesse, PolyVision, Steelcase, and Turnstone. Steelcase has operations in North America, Europe, and Asia. It also offers a variety of services, including workspace planning, interior construction, and project management.
The company's Other segment consists of the Coalesse and Designtex brands, which provide design expertise and premium surface materials for seating areas, walls work stations, and floors. Customers consist of architects and interior designers. PolyVision, part of the Other segment, designs and makes visual communication products, such as static and interactive electronic whiteboards.
Steelcase, which generated about 65% of its 2012 revenue in the US, has restructured its business in the last few years and has seen revenue grow to $2.7 billion in 2012 versus $2.4 billion in 2011. Its Seating segment showed the strongest revenue growth in 2012 due to growth in the higher education and health care industries.
Outside of North America, the company's international segment consisted of around 36% of revenues in 2012. Western Europe accounted for roughly 85% of international revenues. The company's largest presence in Western Europe was in Germany, France, and Spain. The company has expanded operations in Asia/Pacific, primarily in China and India, to take advantage of the current economic momentum in those regions of the world.
Steelcase distributes its products through independent and company-owned dealers across 800 locations worldwide. The company operates manufacturing facilities throughout North America (US and Mexico), Europe (France, Germany, and Spain), and Asia (China and Malaysia).
Company director P. Craig Welch, Jr. owns around 15% stake in Steelcase through holdings in both Class A and Class B stock.
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