JELD-WEN Announces Closure of Two Manufacturing Facilities

Jeld-Wen Holding, Inc. (NYSE: JELD) has announced significant changes to its North America windows operations, including the closure of two manufacturing facilities. The company will be closing its Vista, California, and Hawkins, Wisconsin, manufacturing facilities as part of its ongoing transformation journey.

The Vista, California site, which manufactures composite windows under the brand name Auraline, will be discontinued due to various market factors. Jeld-Wen expects to incur one-time costs of approximately $21 million related to the Vista closure in 2024, with an anticipated annual pre-tax income improvement of at least $4 million after project completion.

Meanwhile, the Hawkins, Wisconsin site, which manufactures wood windows and employs approximately 340 associates, will see its production consolidated into Jeld-Wen's wood windows manufacturing facility in Rantoul, Illinois. The company estimates one-time costs related to this consolidation at approximately $24 million, with an expected annual pre-tax income improvement of at least $7 million after the completion of these activities.

In connection with these site closures, Jeld-Wen expects to incur one-time costs of approximately $45 million and generate annual pre-tax income improvements of at least $11 million. The company will provide further updates about the closures during its quarterly earnings call scheduled for May 7, 2024.

These actions are part of Jeld-Wen's broader transformation journey aimed at strengthening the company's foundation and positioning it for long-term, profitable growth. Jeld-Wen Holding, Inc. is a leading global designer, manufacturer, and distributor of high-performance interior and exterior doors, windows, and related building products, serving the new construction and repair and remodeling sectors. The company operates facilities in 15 countries in North America and Europe and employs approximately 18,000 associates. The market has reacted to these announcements by moving the company's shares -1.7% to a price of $19.64. For the full picture, make sure to review JELD-WEN's 8-K report.

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