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Pulte Homes, Inc is a Bloomfield Hills, MI based
company founded by Bill Pulte. Announced April 8, 2009, Pulte Homes has agreed
to acquire Centex - creating the nation's largest homebuilding company in a
stock transaction worth $3.1 billion, including $1.8 billion of debt. The
companies said that, after the merger, Pulte shareholders will own 68% of the
combined company, and Centex shareholders will own 32%. The two companies said
they each have about $1.7 billion in cash, so that the newly combined company
will have more than $3.4 billion in liquidity. Pulte completed the acquisition
of Centex February 23, 2010.
Pulte's company motto is "Homeowner for
Life," signifying that their business goals are to provide first time
homeowners with their first homes and work them up through their signature
communities up to an estate size home and even to their retirement homes.
Pulte's customer devotion ranks high and records show that compared to other
public homebuilders, their repeat buyer business is the highest[citation
needed].
The company has three main parts to its business
model: Sales, Construction, and Customer Service. The company also has forward
planning as the Land department as well as Finance. The Mortgage department
also helps to support the main Sales department. All departments are expected
to work together as a team to ensure that potential and actual homeowners are
happy with their homes.
Type Public
Traded as
NYSE: PHM
S&P 500 Component
Industry Residential Construction
Founded
1950
Headquarters
Bloomfield Hills, MI, USA
Key people
William J. Pulte, Founder
Richard J. Dugas Jr, CEO
James R. Ellinghausen Sr. VP of HR
Revenue
$14.694 billion USD (2006)
$9.263
billion USD (2007)
Operating income
$2.201
billion USD (2006)
-$2.307
billion USD (2007)
Net income
$1.491
billion USD (2006)
-$2,256
billion USD (2007)
Employees
13,400 (2006)
Website
www.pulte.com
