Investor Press Release
Quanex Acquires Vinyl Extrusion Assets in Yakima from JELD-WEN
Quanex Building Products Corp. and JELD-WEN have entered into an agreement for the sale, to Quanex’s Mikron operation, of JELD-WEN’s equipment and certain other assets of its vinyl extrusion plant in Yakima, WA, effective March 1, 2011.
In 2007, JELD-WEN remodeled a building in Yakima to begin making some of the extruded vinyl profiles used at its window manufacturing plants across the U.S., including at an adjacent site in Yakima. Mikron, part of Quanex’s Engineered Products Group, has been JELD-WEN’s long-time extrusion supplier, providing the technical expertise to help make the operation the success it is today, said a joint release from the two companies. JELD-WEN decided late last year that it was time to consider its options to geographically grow its role in the extrusion business or seek alternatives that would ensure its future success.
“Strategically, this allows each of our companies to focus and leverage what they do best—continue to provide customers with the most efficiently produced, superior-performing components for integrated window and door systems,” said David Wemmer, president of Mikron.
Quanex Building Products Corp. is a manufacturer of engineered materials, component, and systems serving the U.S. residential window and door markets. Quanex will operate the extrusion plant by hiring existing JELD-WEN Extrusion Division employees.
About Quanex Building Products
Quanex Building Products Corporation is an industry-leading manufacturer of value-added, engineered materials and components, serving the energy-efficient building products markets. It is an ROIC-driven company that grows shareholder returns through a combination of organic growth via new products, programs and strategic acquisitions. For more information about Quanex, visit our website at www.meetquanex.com.
Statements that use the words "expect," "should," "believe," "will," "might," or similar words reflecting future expectations or beliefs are forward-looking statements. The statements found above are based on current expectations. Actual results or events may differ materially from this release. Factors that could impact future results may include, without limitation, the effect of both domestic and global economic conditions, the impact of competitive products and pricing, and the availability and cost of raw materials. For a more complete discussion of factors that may affect the company's future performance, please refer to the company's most recent 10-K filing on December 18, 2010, under the Securities Exchange Act of 1934, in particular the section titled "Private Securities Litigation Reform Act" contained therein. The forward-looking statements are intended to express the company's expectations as of the date of this release. The company undertakes no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events or otherwise.
JELD‐WEN inc. is the world’s leading manufacturer of reliable windows and doors. Based in Klamath Falls, Ore., JELD‐WEN began as a small Oregon millwork plant in 1960 with 15 employees and now has more than 20,000 employees at its operations across 24 states and 22 countries. Today the company manufactures a full breadth of windows, doors and garage doors, and has earned numerous awards and endorsements for reliability, innovation and excellence. JELD‐WEN was named a 2010 ENERGY STAR Partner of the Year by the Environmental Protection Agency and the Department of Energy.
Quanex Building Products
Valeria Calvert, Manager Corporate Communications
David Wemmer, President
Teri Cline, Communications Director