W&D Weekly - September 5, 2007 | Vol 2, Num 35
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Ply Gem Adding CertainTeed Window Business
Ply Gem Industries Inc. has entered into a definitive agreement to acquire the vinyl window business of CertainTeed Corp...
In a move that gives the company’s window business national scope, Ply Gem Industries Inc. has entered into a definitive agreement to acquire the vinyl window business of CertainTeed Corp. CertainTeed operates three window and patio door fabrication facilities, located in Auburn, Wash., and Corona and Sacramento, Calif. It also extrudes and supplies vinyl window profiles to licensed window fabricators on the East Coast.
“This acquisition will enable us to capitalize on attractive market opportunities in the West, while strengthening our national presence in the windows and doors market,” says Gary E. Robinette, Ply Gem president and CEO. “This transaction will enable Ply Gem to provide our customers with window products for virtually any new construction or home improvement project in any area of the country. CertainTeed Window and Door products are extremely well respected in the marketplace and will complement Ply Gem’s existing window and door product offering.”
Based in Kearney, Mo., Ply Gem is a manufacturer of exterior building products that entered the window and door following its acquisition by Caxton-Iseman Capital Inc., a New York-based private equity firm. In 2004, it acquired Great Lakes Window, Walbridge, Ohio, and CWD Windows & Doors, based in Calgary, both previously owned by Nortek Corp. It then added MW Windows & Doors, based in Rocky Mount, Va., shortly thereafter. Last year, it added Alenco, a Texas-based manufacturer of aluminum and vinyl windows and doors. Other Ply Gem lines include Variform siding, Kroy vinyl decking and fencing and Alcoa Home Exterior products.
For 2006, Ply Gem reported overall sales of $1.05 billion. The company is a Window & Door 2007 Top 100 manufacturer reporting window and door sales between $500 million and $1 billion.
“The acquisition of CertainTeed’s vinyl window business with its great products and manufacturing footprint in the West presents Ply Gem with exciting new opportunities,” says Robert A. Ferris, a managing director of Caxton-Iseman. “Since we acquired Ply Gem in 2004, we have been very pleased by the company’s performance and growth trajectory. We continue to be impressed with the quality of the Ply Gem business and its leadership team as they continue to demonstrate strong financial performance against the challenging market conditions that currently exist in the residential housing market. We look forward to working with Ply Gem’s management team to continue building the business.”
The acquisition is expected to be financed through a combination of cash on hand and borrowings against Ply Gem’s $75 million revolving credit facility. Completion of the transaction, expected to occur in the third quarter of 2007, is subject to customary closing conditions.
Window & Door Announces Crystal Achievement Winners
Window & Door is pleased to announce its 2007 Crystal Achievement Award winners. The program recognizes significant innovations and achievements in window and door technology, manufacturing and marketing...
Window & Door is pleased to announce its 2007 Crystal Achievement Award winners. Selected by a panel of judges representing all segments of the industry, the awards recognize significant innovations and achievements in window and door technology, manufacturing and marketing.
“Our Crystal Achievement Award winners this year reflect the expanding number of options our industry offers to builders and homeowners,” says John Swanson, editor/associate publisher, Window & Door. “Our judges chose products that deliver added convenience, enhanced performance and greater design freedom.”
All the 2007 Crystal Achievement Award-winning products, equipment and programs will be featured in the September issue of Window & Door.
Click here to visit a special section of WindowandDoor.net featuring photos and details about each winner.
The winners are:
Most Innovative Window
Large Manufacturer: Jeld-Wen
Small/Medium Manufacturer: Gorell Windows & Doors
Most Innovative Door
Large Manufacturer: Jeld-Wen
Small/Medium Manufacturer: Luxury Windows & Doors
Most Innovative Window Component
Electronic Window Systems
Most Innovative Door Component
Kwikset, a Black & Decker Co.
Most Innovative Glazing Technology
Weather Shield Windows & Doors
Most Innovative Plant
Great Lakes Window
Most Innovative Machine
Frame/Sash Fabrication: Stürtz Machinery Inc.
IG Production/Glazing: Sash Systems LLC
Unique Innovation
GED Integrated Solutions
Most Innovative Marketing Program
Large Manufacturer: Milgard Windows & Doors
Small/Medium Manufacturer: Avonni Windows
Supplier: Cardinal Glass Industries Inc.
Best Product Literature
Large Manufacturer: Loewen
Small/Medium Manufacturer: Vytex Windows
Supplier: Truseal Technologies Inc.
Best Industry Web Site
Large Manufacturer: Jeld-Wen
Small/Medium Manufacturer: Soft-Lite Windows
Supplier: Sashlite LLC
“Our judges had a tough job this year. We received more than 160 nominations—shattering our previous record,” Swanson continues. “Companies are clearly looking to innovate, so the future for our industry is very exciting.”
Window & Door will also highlight winners at its booth at GlassBuild America: The Glass, Window & Door Expo, next week in Atlanta.
Jeld-Wen Grows in Washington
Jeld-Wen Inc. plans to spend about $6.5 million to renovate a building currently on the site of its Yakima, Wash. property...
Jeld-Wen Inc. plans to spend about $6.5 million to renovate a building currently on the site of the Yakima, Wash., property it bought two years ago. The goal is to set up a “feeder facility” for its existing plant in Yakima.
The national producer employs about 100 people in the area, and the new site may create as many as 85 additional jobs, according to the Yakima (Wash.) Herald-Republic. “The quality of employees, local resources and proximity to the other Jeld-Wen facility made Yakima a great location,” Randy Cox, vice president, says.
The project’s completion date is still unknown, company officials told the paper.
GlassBuild Opens Next Week with Record Number of Exhibitors
GlassBuild America: The Glass, Window & Door Expo will set new records when it opens next Monday in Atlanta...
GlassBuild America: The Glass, Window & Door Expo will set new records when it opens its doors next Monday in Atlanta, organizers report. Running from September 10-12 at the Georgia World Congress Center, the event will feature more than 500 exhibitors for the first time.
Almost 540 companies will occupy 218,840 square feet of exhibit space—the highest totals in GlassBuild America history, according to the National Glass Association (which also publishes Window & Door). The Atlanta event will feature 130 new exhibitors, and 154 exhibiting companies from outside the U.S.
Window & Door has prepared a special preview on its Web site, showcasing window and door industry products to be featured at the event. Numerous exhibitors are bringing a variety of window and glass fabricating machines to demonstrate in Atlanta. Other exhibitors include suppliers of hardware, software, vinyl window systems, glass and IG components, weatherseal products and much more. Click here for an advance look at a sampling of the products to be displayed in Atlanta.
“Along with our highest number of exhibitors to date, we’re also very pleased with our pre-registration numbers this year—so far our overall registration is higher than this same time last year, and that trend has been consistent since registration opened,” says Denise Sheehan, NGA VP of industry events. “Looking at all of our various industry segments, the demographics are right on target with what we saw last year, so we know it’s going to be a great show.”
In addition to the show itself, GlassBuild America 2007 will feature an educational program, including two seminars targeted at the residential window and door market, both scheduled for Tuesday morning. Michael Collins of the investment-banking firm Jordan, Knauff & Co. will look at “The Coming Wave of Competition from Chinese Window and Door Companies.” His firm has conducted extensive research on the topic and he will discuss its findings related to the present level and expected future growth of imports. He will also explore the product areas at greatest risk from overseas competition and discuss strategies that U.S.-based window and door manufacturers can use to respond to the current competitive environment.
Collins will be followed by Jeff Dietrich of the Institute for Trend Research who will examine “What’s in Store for 2008 and Beyond.” He will review what’s happening with the overall economy and where it is going. Forecasts looking out two years will be included with a focus on the housing, window and door-related markets.
The GlassBuild program includes a variety of other opportunities, including demonstrations on the show floor itself. The full schedule, as well as a complete list of exhibitors and registration information, is available at www.glassbuild.com.
WDMA Executive Leaves
The WDMA board of directors has announced that Joel Hoiland, its president, has left the organization...
The Window & Door Manufacturers Association board of directors has announced that Joel Hoiland, its president, has left the organization to pursue other opportunities. He came to the organization in 2006.
“WDMA will continue with business as usual, with day-to-day management being led by two WDMA staff members—John Prentice, director of marketing and Jeff Lowinski, vice president-technical services,” says Dave Beeken of Eagle Window & Door, current WDMA chair. “The board is confident that with the combined experience of these two individuals, WDMA will continue to move forward in the execution of the new strategic plan.”
“We are moving forward and will bolster our technical capabilities in ways designed to better serve the needs of WDMA members and the industry,” says Lowinski, who had served as WDMA interim president following the departure of Alan Campbell, Hoiland’s predecessor. “Our focus remains on bringing value to our membership through effective and innovative market-driven initiatives,” says Prentice.
WDMA reports its board of directors has already started a search for a replacement.
The organization also reports it is hosting an invitation-only CEO summit on September 20 to discuss implementation of the advocacy initiative that is part of WDMA’s current strategic plan. According to the latest WDMA newsletter, attendees will include Rod Wendt of Jeld-Wen Inc., Pella Corp.’s Mel Haught, Jim Humphrey of Andersen Corp. and Roger O’Shaughnessy of Cardinal Glass Industries. Plans to step up advocacy efforts in the regulatory and political arena were also discussed at WDMA’s recent summer meeting.
Frank Lowe Starts New Site
Frank Lowe Rubber & Gasket Co. Inc. has started construction on its new corporate headquarters and manufacturing facility, located about 20 miles east of its current Farmington, N.Y. location...
Frank Lowe Rubber & Gasket Co. Inc. has started construction of its new corporate headquarters and manufacturing facility, located about 20 miles east of its current Farmington, N.Y. location. The company plans to move into the new 60,000-square-foot building in the spring of 2008.
Company officials break ground for Frank Lowe Rubber & Gasket Co.’s new corporate headquarters. The site will likely be completed in the spring of next year.
“This project has been in the works for over two years,” says Ira Warren, president. “We made the decision to go forward with a new corporate facility that can double the size of our current 35,000-square-foot facility.”
The move will allow the company to expand its operations and will bring the corporate offices and manufacturing facility under one roof.
Established in 1955, Frank Lowe fabricates, die cuts and slits products for a variety of industries, including the window and door market, from a vast selection of non-metallic materials. The company also specializes in products laminated with pressure sensitive adhesives, which can be packaged in bulk or kiss cut on rolls.
- Historic Fall in Home Prices
From the Christian Science Monitor - Bush Cites New Tax Relief for Homeowners
From BuilderOnline
...
Historic Fall in Home Prices
The decline, the biggest in the US since World War II, is deepening
From the Christian Science Monitor
A historic decline in home values comes down to this: Even if you never signed papers on a risky loan during the real estate frenzy, you may now be paying a price. In recent decades, it has been uncommon for US home prices to fall much, even during recessions. One government measure has never shown a year-over-year decline in its three-decade history... read more
Bush Cites New Tax Relief for Homeowners
From BuilderOnline
New tax relief and the ability to refinance adjustable rate mortgages could help many Americans who are in danger of losing their homes, President Bush said Saturday. The president devoted his weekly radio address to a modest set of proposals he announced Friday to deal with an alarming rise in mortgage defaults, which has contributed to turbulent financial markets... read more