Ply Gem consolidates plants, adds roof product

By Catherine Kavanaugh
Staff Reporter

Published: August 8, 2014 2:05 pm ET
Updated: August 8, 2014 2:09 pm ET

Image By: Ply Gem Holdings Inc. Ply Gem Holdings Inc. has a distribution agreement for its new molded engineered slate roofing product.

Related to this story

Topics Mergers & Acquisitions, Canada, United States, Construction, Windows & doors

Building materials maker Ply Gem Holdings Inc. has consolidated manufacturing operations of two facilities it acquired last year in western Canada.

The plants purchased from Calgary, Alberta-based Geinow WinDoor Ltd. are just 20 minutes apart in Calgary and serve the same market, Ply Gem President and CEO Gary Robinette said in an Aug. 8 conference call about second quarter financial results.

Integration and restructuring costs related to combining the facilities had a little drag on the bottom line for the Cary, N.C.-based Ply Gem, which posted an increase in net sales of $41.1 million to $409.2 million thanks to the improved product mix and some price increases that went into effect in March.

In addition to Geinow, a window and door fabricator, last year Ply Gem acquired Mitten Inc., which produces vinyl siding and accessories in Paris, Ontario. Sales of those products along with the price hikes accounted for $24 million of Ply Gem’s net sales in April through June.

Company officials said Ply Gem led the industry in raising prices. They increased prices by about 5 percent for PVC products and as much as 10 percent for aluminum products because of higher resin and material costs.

Ply Gem broadened its offering again recently with the introduction of a new roof product.

“I’m delighted to announce that we have entered into a distribution agreement with our newly developed engineered slate roofing product,” Robinette said. “Initial sales of this product commenced with shipments into the mid-Atlantic and Northeast markets during the third quarter. And, as we look ahead to the third quarter we expect moderate improvement to the macro housing outlook with continued choppiness in the market.”

For the second quarter, Ply Gem’s operating earnings increased to $31.2 million compared to $24.2 million for the second quarter of 2013 after adjusting for $23.5 million of initial public offering costs.


Comments

Ply Gem consolidates plants, adds roof product

By Catherine Kavanaugh
Staff Reporter

Published: August 8, 2014 2:05 pm ET
Updated: August 8, 2014 2:09 pm ET

Post Your Comments


Back to story


More stories

Image

Investment firm buys Ontario cap molder

October 23, 2014 2:01 pm ET

A company whose varied interests include food and refrigerated transportation businesses is now moving into plastic caps.    More

Image

FTC warns bag makers to take care before making biodegradeability claims

October 23, 2014 12:30 pm ET

Makers of oxodegradable or oxo-biodegradable plastic bags should consider themselves on notice, according to the U.S. Federal Trade Commission.    More

Image

Toyoda Gosei's growth strategy places a big focus on North America

October 23, 2014 1:21 pm ET

Sometimes, knowing your weaknesses is just as important as knowing your strengths. And if 2014 is any indication, automotive supplier Toyoda Gosei Co....    More

Image

Geist Plastics changes name to Lincoln Plastics

October 23, 2014 12:31 pm ET

Custom profile extruder Geist Plastics Inc. is changing its name to Lincoln Plastics, the company announced Oct. 23.    More

Image

Report: Private equity companies may seek to buy Bayer MaterialScience

October 23, 2014 10:56 am ET

A number of investment groups are reported to be interested buying Bayer AG's MaterialScience operation, valued at around 10 billion euros ($12.6 bill...    More

Market Reports

Plastics Recycling Trends in North America

This report is a review and analysis of the North American Plastics Recycling Industry, including key trends and statistics based on 2013 performance. We examine market environment factors, regulatory issues, industry challenges, key drivers and emerging trends in post-consumer and post-industrial recycling.

Learn more

Plastics in Mexico - State of the Industry Report

This report analyzes the $20 million dollar plastics industry in Mexico including sales of machinery & equipment, resins and finished products.

Our analysts provide insight on business trends, foreign investment, top end markets and plastics processing activity. The report also provides important data on exports, production, employment and value of plastics products manufactured.

Learn more

Plastics Caps & Closures Market Report

The annual recap of top trends and future outlook for the plastics caps & closures market features interviews with industry thought leaders and Bill Wood’s economic forecast of trends in growing end markets. You will also gain insight on trends in caps design, materials, machinery, molds & tooling and reviews of mergers & acquisitions.

Learn more

Upcoming Plastics News Events

January 14, 2015 - January 14, 2015Plastics in Automotive

February 4, 2015 - February 6, 2015Plastics News Executive Forum 2015

June 2, 2015 - June 3, 2015Plastics Financial Summit - Chicago 2015

September 16, 2015 - September 18, 2015Plastics Caps & Closures - September 2015

More Events