Facility Needed to Meet Growing Demand
VENICE, Fla.--(BUSINESS WIRE)--
PGT Innovations, Inc. announced today expansion plans for a new 330,000
sq. ft. manufacturing facility in Miami, Florida. The new facility will
enhance the Company's manufacturing capabilities to meet future expected
growth of the impact-resistant window and door market.
The Company currently has 182,000 sq. ft. of offices and manufacturing
space in Miami. The CGI brand will move its offices and manufacturing
facility into the new space which is located approximately 12 miles from
their current location. The new facility is designed to produce the
Company's CGI branded products, along with various other commercial and
PGT aluminum products.
"This new facility demonstrates our commitment to make our products in
America and to serve our core market of Florida which continues to be a
positive environment for the growth of our Company," commented Jeff
Jackson, President, PGT Innovations. "This move also increases our
manufacturing capabilities and enhances operational efficiencies by
combining parts of our production, distribution and marketing efforts
across all of our brands. We believe this further enables our ability to
grow and evolve to better meet our customer's needs, allowing us to
provide exceptional value along the way."
The new building space will accommodate a multi-brand showroom, offices,
production, and distribution. The new space is slated to be complete
near the end of 2017 and is expected to be operational by January 2018.
Jackson continues, "We were fortunate to find such a great space so
close to our current Miami facility. We really wanted to limit the
impact that relocation could have on our customers and our employees. I
don't think we could have found a better location for our team and look
forward to becoming an integral part of this community."
About PGT Innovations
PGT Innovations, headquartered in North Venice, Florida with over 2700
employees statewide, creates value through deep customer relationships,
understanding the unstated needs of an industry, a drive to create the
strongest, safest products on the market, and a commitment to always
moving forward. The Company's trusted brands include CGI®, PGT® Custom
Windows & Doors, and WinDoor®. PGT Innovations is the nation's largest
manufacturer of impact-resistant windows and doors, holds the leadership
position in its primary market, and is part of the S&P SmallCap 400
Index. For additional information, visit www.pgtinnovations.com.
This press release may contain statements that constitute
"forward-looking statements" as defined under federal securities laws of
the United States. Generally, words such as "believe," "expect,"
"intend," "estimate," "anticipate," "project," "will" and similar
expressions identify forward-looking statements, which are not
historical in nature. These forward looking statements relate to, among
other things: (i) the impact that our name change will have on the
Company's profile, brand and performance; (ii) the impact the listing of
our common stock on the NYSE will have on the Company's profile, brand,
and performance; and (iii) the outcome of these and other changes the
Company is making to expand its growth opportunities and increase
shareholder value. Forward-looking statements are subject to certain
risks and uncertainties that could cause actual results to differ
materially from the Company's historical experience and our present
expectations or projections. These risks include, but are not limited to:
Changes in new home starts and home remodeling trends
The economy in the United States generally and in Florida, in
particular, where the substantial portion of our sales are generated
Raw material prices, especially aluminum and vinyl
Our level of indebtedness
Our dependence on our impact-resistant product lines
Our ability to successfully integrate acquisitions, such as our
acquisitions of CGI® Windows & Doors Holdings, Inc. and WinDoor®, Inc.
Product liability and warranty claims
Federal and state regulations,
Our dependence on our manufacturing facilities; and
Other risks discussed in our Company's filings with the Securities and
Exchange Commission, including our Annual Report on Form 10-K for the
year ended January 2, 2016 and our subsequently filed quarterly
reports on Form 10-Q, which are available from the SEC.
You should not place undue reliance on forward looking statements, which
speak only as of the date they are made. The Company does not undertake
any obligation to update any forward-looking statement to reflect the
impact of subsequent events or circumstances.
View source version on businesswire.com: http://www.businesswire.com/news/home/20170421005165/en/
Media Relations Contact:
Vice President, Marketing & Innovation
Brad West, 941-480-1600
Source: PGT Innovations, Inc.
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