WCONThINaUEtD ’s News
percent); and other (10 percent). 52 acquisition of complementary door ﬁling does state, “our indebtedness
percent of its revenue comes from the and window manufacturers in new could adversely affect our ﬁnancial
residential remodeling segment.
geographies as well as providers of ﬂexibility and competitive posi-
All this growth, which includes new product lines and value-added ser- tion … We are a highly leveraged
product development, will require vices. While this has not been a major company. As of March 26, 2016, we
the hiring of additional personnel. In focus in recent years, we expect it to had $1,246.1 million of term loans
fact, according to the ﬁling, the com- be a key element in our long-term outstanding …”
pany has hired more than 20 engi- growth.”
Other potential impacts include
neers “who will work closely with our But with growth comes challeng- raw material costs of commodities
expanded group of product line man- es, and the door and window maker including vinyl extrusions, glass, alu-
agers to identify unmet market needs highlights these for potential inves- minum, wood, steel, plastics, ﬁber-
and develop new products.”
tors. This includes changes in build- glass and other composites. “Changes
All those products need to be mar- ing codes (including Energy Star stan- in the underlying prices of these com-
keted, and the IPO states there are dards) that could increase the cost modities have a direct impact on the
plans for that as well. “We recently of its products, as well as domestic costs of products sold.”
began to make meaningful invest- and foreign governmental regulations
When disclosing the company’s
ments in new marketing initiatives to that could increase the costs of busi- consolidated ﬁnancial results, net rev-
enhance the positioning of the Jeld- ness operations. Environmental regu- enues decreased $126.1 million or 3.6
Wen family of brands.”
While the company has made sev-
lations come into play as well. percent in the year ended December
“We may be subject to signiﬁcant 31, 2015. The company attributes this
eral acquisitions in the past few years, compliance costs with respect to to an unfavorable foreign exchange
it says there is still potential growth in legislative and regulatory proposals impact of 8 percent. However, net
new markets and geographies.
to restrict emission of greenhouse revenues in North America increased
We believe there are opportunities gases,” reads the IPO. $26.1 million, or 1.3 percent, to
Also, when outlining the risks, the $2.015.7 billion.
to expand our company through the
Cardinal to Open New Facility in Arizona
Cardinal IG Co. will build a new ﬁrst quarter of 2017 and another 50 ity to the customer base were also key
00,000-square-foot manufacturing by 2019. He says a majority of those drivers in the decision to set up shop
facility in Buckeye, Ariz., where it hires will be local.
will fabricate insulating glass for the
“This is a wonderful day for the City
of Buckeye and its residents, because ning its senior staff, and from there,
The facility is in the process of plan-
It will be Cardinal Glass Industries’ it delivers new jobs right here into our employees for production and other
tenth standalone insulating glass divi- community,” says mayor Jackie Meck. departments will be hired. Those
sion location and the parent com- In 2015, the city became the ﬁrst employees will then be sent to other
pany’s 37th manufacturing facility. in Arizona to opt out of the collection operating Cardinal IG facilities for train-
Cardinal also produces ﬂoat, coated, of municipal sales tax for manufac- ing during the new plant’s construction.
custom tempered and laminated glass. turing operations, something Meck
As part of its economic develop-
There’s been a void in the and Watson say helped draw Cardinal ment agreement with Cardinal, the
Southwest market for high-quali- to the area. In early February, Meck city will purchase approximately ten
ty insulating glass for quite some began working with councilmembers, acres of its site for a regional water
time,” says Cardinal IG plant manager city management and staff to bring campus. The city purchased key water
Clayton Watson. “We’ve had the U.S. Cardinal to the city.
pretty well covered other than this “We wanted a good, solid available
infrastructure in the area last year.
The purchase sale agreement for
region. We’ve wanted a factory out workforce, and this city brought that,” the water campus and development
here, and demand became so strong says Watson. “We were also on a fast agreement were approved Tuesday
that it ﬁnally warranted we open one.” track to get operations up and running, at a Buckeye City Council meeting.
Watson says the facility aims to and they worked very close with us to They will become legally binding once
hire approximately 100 employees by keep pace with the project’s goals.”
Cardinal IG Co. completes the pur-
the time it is fully operational in the
He adds that elevation and proxim- chase by the end of July 2016.
Door & Window Market