Sustainable building materials supplier Serious Materials Inc. plans to buy the assets of Kensington Windows, a vinyl window and door maker that shut down in October when parent company Jancor Cos. Inc. closed its doors and filed for bankruptcy.
Terms were not disclosed. Sunnyvale-based Serious said it will reopen Kensington's Vandergrift, Pa., plant within 30 days.
``We are committed to getting this plant restarted and back in operation as quickly as possible. We want to get people back to work,'' said Kevin Surace, chief executive officer of Serious Materials, in a Jan. 20 news release. ``While building material companies that make commodities are having a hard time in this downturn, we continue to expand operations and hire more people for our unique energy-saving products.''
The company plans to install new equipment to make super-insulating windows and commercial glass.
The Kensington plant employed more than 150 when it closed unexpectedly. Perrysburg, Ohio-based Jancor said in October that it would liquidate all of its assets, blaming resin and fuel prices, tightening credit markets and lower demand.
Serious Materials said it will immediately rebrand the products from Kensington Windows to Serious Windows.
Kensington Windows had a capacity of 13,000 windows per month, and 100,000 square feet of manufacturing space.
On Jan. 14, union officials at Republic Windows & Doors Inc. in Chicago said that Serious Materials plans to buy that PVC window fabricator. The United Electrical, Radio and Machine Workers of America Local 1110, which represents all 230 of Republic's workers, said a final purchase agreement is being hammered out.
Serious Materials' Jan. 20 news release announcing the Kensington asset acquisition did not mention Republic Windows, and company officials have not commented on the union's announcement that a sale is imminent.
Republic Windows also closed unexpectedly, in December, when Bank of America terminated the company's line of credit.