Atrium Cos. Inc. is one step closer to attaining its goal of becoming a billion-dollar company through its latest acquisition, of vinyl extruder Heat Inc.
The $85 million cash deal, announced late last month, will boost Dallas-based Atrium's annual sales to more than $550 million, Chief Financial Officer Jeff Hull said by telephone April 28.
Pittsburgh-based Heat makes vinyl windows and doors through two subsidiaries; Best Built Inc. of Yakima, Wash., and Thermal Industries Inc. of Pittsburgh.
The acquisition not only will strengthen Atrium's presence in the Pacific Northwest, but also will introduce the company to the vinyl deck, dock and patio enclosure markets, Hull said.
Thermal is a newcomer to those markets and Atrium sees it as an opportunity to expand into a growing field.
``It's our desire to have vinyl in every market where vinyl can be used,'' Hull said.
The Heat acquisition, which is scheduled to close in 30-60 days, will give Atrium 20 more extruders and two plants, increasing its total number of vinyl extrusion plants to seven. The acquisition of a Denver vinyl window and door plant also is expected to close in the next two weeks, he said.
``The intent is to be about a $1 billion company within the next two to three years,'' he said, adding that about 35 percent of the company's business will come from vinyl extrusion.
Atrium also manufactures and markets wood and aluminum windows from facilities in 24 states. Its 1997 sales topped $410 million.