American of Martinsville Wins LADD Chairman's Award for Fifth Consecutive Year

Furniture World Magazine

LADD Furniture, Inc. (Nasdaq: LADF) chairman and CEO Fred L. Schuermann, Jr. announced that, for the fifth consecutive year, LADD's American of Martinsville ("AOM") contract furniture division has been named the winner of the LADD Chairman's Award. The Chairman's Award is presented early each year to the most outstanding LADD operating company for the preceding year. Commenting on the announcement, Schuermann said, "Winning this award and, most notably, winning it five years running represents a real tribute to American of Martinsville's management team and the company's 1,400 Virginia- based employees. In addition to its strong 1999 operating performance, AOM's selection was based on the company's ability to continue gaining market share, as well as overall adherence to its strategic plan and to LADD's philosophy and beliefs." Schuermann and AOM president Mike Haley will present plaques to American of Martinsville's three Virginia-based manufacturing facilities at special luncheons to be held in March, honoring the company and its employees. AOM president Haley said, "We are delighted to have been singled out again as the winner of the LADD Chairman's Award, and we are tremendously proud of the achievements recorded last year by our dedicated team of employees and managers. Their combined efforts have resulted in our company gaining nationwide recognition as the undisputed vendor of choice for contract furniture for the hotel (guest room) industry, as well as for the assisted- living (retirement home) and governmental markets." Headquartered in Martinsville, VA, American of Martinsville manufactures a broad line of wood and upholstered contract furniture, which is marketed both domestically and worldwide. AOM's parent company, LADD Furniture, Inc., is one of North America's largest manufacturers of residential wood and upholstered furniture under the American Drew, Barclay, Clayton Marcus, HickoryMark, Lea, Pennsylvania House and Pilliod brand names. These products are also marketed worldwide through LADD International.