CEO Hathaway Explains Reasoning
Behind Oldcastle’s New Name
Oldcastle Glass officially has a new name. It became Oldcastle BuildingEnvelope™
on June 1.
In an exclusive interview with USGlass, Ted Hathaway, chief executive
officer of the Santa Monica, Calif.-based supplier, said the company had
become “boxed in” by a name that didn’t indicate the full breadth of its
“For many years we were functioning as Oldcastle Glass but really, since
2003 when we bought our first architectural glazing business, Southwest
Aluminum Systems, we’ve been migrating into a building envelope provider,”
The new name is intended to better brand the company as a one-stop supplier
of a range of glass- and metal-related products.
Being a supplier
of integrated building
envelopes in no way has an adverse impact on our customers;
in fact, it helps our customers.
“We’d go to AIA Conventions and hold symposiums and people
would say ‘oh, I didn’t know you did curtainwall, I didn’t know you did
skylights,’ etc., so finally we realized we needed to address it,” Hathaway
Susan Trimble, director of corporate communications, said company officials
began considering the change well over a year ago.
“We looked at a lot of different possibilities … we went through a long
process of about two to three months trying to find something that we
felt was appropriate,” Trimble said. Maintaining the Oldcastle name was
an important part of the search. “We didn’t want to have an unrelated
name,” Trimble added.
According to Hathaway, the tagline best defines the company’s shift. “We
started out with ‘where glass becomes architecture’ and that evolved into
‘pushing the building envelope’ and now it’s ‘engineering your creativity,’
which is really who we are,” he said.
He added, “We wanted to differentiate ourselves. Viracon says it’s ‘the
leader in glass fabrication.’ We wanted to set our sights higher, and
so now our tagline is ‘engineering your creativity.’“
The new name is intended to reflect the company’s shift toward integrated
“Parts and pieces are a thing of the past, design-bid-build has proven
to be less than efficient. Integrated project delivery certainly has real
potential,” Hathaway said. “Whether working with an owner, an architect
or a general contractor, we have a full understanding of design and integration.
We’re not just making commercial windows that go into someone else’s curtainwall,
we’re not fabricating glass for someone else’s window.”
Hathaway discounted the idea that the name change might be cause for concern
among some contract glaziers. He said that the overall shift toward integrated
project delivery is intended to help the company’s core customer, the
“Being a supplier of integrated building envelopes in no way has an adverse
impact on our customers; in fact, it helps our customers. If we speak
to those customers that buy from different people, they run into problems
of accountability and reliability. If you ask a glazing contractor how
it manages, it’s a task for them,” Hathaway said. “When you source different
products on a project and you have a schedule problem or a quality problem
“Our preference is always to be supply-only and to work in partnership
with contract glaziers,” he added.
Hathaway explained, “We do [the installation on] roughly 6-10 projects
per year which are large, monumental project but the lion’s share of the
installation is done by our customers. And those customers are looking
for companies that have financial stability. How many [suppliers] have
filed for bankruptcy? How many are teetering? We have stability.”
Trimble noted that in addition to sending a message to architects, building
owners and glazing contractors, the new name also is intended to help
unify employees across divisions.
She said that the company began notifying employees of the potential change
in mid-May with an email blast, followed by brochures, samples of business
cards and letterhead. Those visuals were supplemented with items such
as logo baseball caps for all employees and hardhats for those who needed
them. “The idea was to give them a visual,” Trimble said.
Hathaway notes that feedback from the company’s sales organizations has
“From an external perspective, it clarifies what we do and who we are
and from an internal perspective, it gives everyone across the full spectrum
of acquisitions, from glass fabricators to curtainwall engineering companies,
a common point of unification,” Hathaway said. “Everybody now understands
the mission and the mission is now that we are the leading supplier of
building envelope solutions in North America.”
International Aluminum, Atrium Corp. Emerge
from Chapter 11
The spring brought good news for two companies that filed for bankruptcy
in January 2010; both International Aluminum Corp. in Monterey Park, Calif.,
and Atrium Cos. Inc. in Dallas have emerged from Chapter 11 bankruptcy
Following its reorganization, International Aluminum now will be called
International Architectural Group LLC. Its brands—United States Aluminum,
RACO Interior Products, International Window and International Extrusion—will
retain their names.
Customers, employees and other partners are expected to be unaffected
by the new corporate structure, according to information from the company.
In addition, court documents note that none of the companies’ warranty
obligations will be dismissed as a result of the reorganization.
Under the confirmed plan, the company’s secured indebtedness will be satisfied
through a combination of new equity, new term notes and a cash payment
to its senior lenders. According to court documents, those terms include:
cash on hand of the loan parties in excess of $20 million (net of actual
and estimated costs and expenses of the restructuring); 100 percent of
the common equity of IAC Holdings as reorganized; and a 5-year loan in
the aggregate principal amount of $38 million.
Trade vendors and suppliers are to receive full payment of all pre-Chapter
11 claims upon the company’s effective date or in the ordinary course
During the restructuring process, United States Aluminum representatives
report that the brand has worked to refocus and retool in order to adapt
to a marketplace that has endured historic volatility over the last several
years. “As we emerge from this process, we are engaging the industry with
a renewed focus and reinvigorated determination to provide the market
with a complete line of well designed fenestration products on a competitive
basis,” says Jim Cenname, executive vice president. “Today, we are looking
forward, developing great new products and adjusting our business plan
to make United States Aluminum the most competitive architectural aluminum
supplier in the industry.”
Atrium Cos. emerged from Chapter 11 following an April hearing that approved
the company’s second reorganization plan.
Atrium officials say the company has reduced its outstanding debt by almost
60 percent, from $680 million at the time of filing to approximately $280
million at emergence. In addition, the company has secured $170 million
in new equity from Golden Gate Capital and Kenner and Co. and $280 million
in new financing.
As a result of the restructuring, Golden Gate Capital and Kenner and Co.
have acquired 92.5 percent of the reorganized company’s new common stock
and former bondholders have received the remaining 7.5 percent of the
reorganized company’s new common stock.
Company subsidiary North Star Windows also has completed the restructuring
process in Canada, under the Companies’ Creditors Arrangement Act.
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