By
January 24, 2013
VENICE, Fla., Jan. 24, 2013 (GLOBE NEWSWIRE) -- PGT, Inc. (Nasdaq:PGTI), the leading U.S. manufacturer and supplier of residential impact-resistant windows and doors, announced that, on January 23, it completed the previously announced sale of its Salisbury, NC manufacturing facility to an affiliate of Gildan Activewear Inc. for approximately $8 million in cash (approximately $7.5M net of selling costs). PGT previously manufactured impact and non-impact windows and doors at the approximately 390,000 square foot facility and consolidated all manufacturing operations into its facilities located in Venice, FL.
"This sale represents a positive outcome for PGT, our shareholders and employees, and provides additional momentum as we move into 2013," said Rod Hershberger, President and Chief Executive Officer of PGT. "As previously announced, we listed this facility for sale in connection with the consolidation of our manufacturing operations into our Florida facilities. This sale further improves our financial strength and aligns with our strategy of focusing on our core impact-resistant markets within the State of Florida and nearby coastal regions."
PGT(R) pioneered the U.S. impact-resistant window and door industry and today is the nation's leading manufacturer and supplier of residential impact-resistant windows and doors. Founded in 1980, the company employs approximately 1,000 at its manufacturing, glass laminating and tempering plants in Florida. Utilizing the latest designs and technology, PGT products are ideal for new construction and replacement projects serving the residential, commercial, high-rise and institutional markets. PGT's product line includes a variety of aluminum and vinyl windows and doors. Product brands include WinGuard (R); SpectraGuard (TM); PremierVue (R); PGT Architectural Systems; and Eze-Breeze (R). PGT Industries is a wholly owned subsidiary of PGT, Inc. (Nasdaq:PGTI).
The PGT, Inc. logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=4199
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