Apogee Acquires Alumicor Limited, Canadian Storefront, Entrance, Curtainwall Company
“We are very pleased to acquire Alumicor, a Canadian market leader with
annual revenues of approximately
“Alumicor is a growing company with operating margins consistent with the Architectural Framing Systems segment, and we expect it to be accretive to Apogee’s earnings in fiscal 2015,” said Puishys. “Alumicor serves both new construction and retrofit projects in the Canadian institutional and commercial sectors. It is a brand known for quality and delivery, consistent with the strength of Apogee’s other brands.”
“We are pleased to be joining forces with Apogee, a strong company that
is also known for its leadership and integrity in commercial
construction markets,” said
“This is the second acquisition Apogee has completed this fiscal year,
the first being a custom window company in Colorado,” said Puishys.
“Along with our organic growth initiatives, this puts us well on our way
to exceeding our goal to be
Apogee funded the acquisition from cash. Alumicor will be a seventh stand-alone business in the Apogee portfolio, reporting to Puishys. Its results will be incorporated in the Architectural Framing Systems segment, which includes Tubelite, a storefront, entrance and curtainwall company serving U.S. markets, Wausau, a custom window and curtainwall company, and Linetec, a finishing company.
About
Alumicor, headquartered in
About
About
- Architectural Glass segment consists of Viracon, the leading fabricator of coated, high-performance architectural glass for global markets.
-
Architectural Services segment consists of
Harmon, Inc. , one of the largest U.S. full-service building glass installation and renovation companies. - Architectural Framing Systems segment businesses design, engineer, fabricate and finish the aluminum frames for window, curtainwall and storefront systems that comprise the outside skin of buildings. Businesses in this segment are: Wausau Window and Wall Systems, a manufacturer of custom aluminum window systems and curtainwall; Tubelite, a fabricator of aluminum storefront, entrance and curtainwall products; and Linetec, a paint and anodizing finisher of window frames and PVC shutters.
-
Large-Scale Optical segment consists of
Tru Vue , a value-added glass and acrylic manufacturer primarily for the custom picture framing market.
Forward-Looking Statements
The discussion above contains “forward-looking statements” within the
meaning of the Private Securities Litigation Reform Act of 1995. These
statements reflect Apogee management’s expectations or beliefs as of the
date of this release. The company undertakes no obligation to publicly
update or revise any forward-looking statements, whether as a result of
new information, future events or otherwise. All forward-looking
statements are qualified by factors that may affect the operating
results of the company, including the following: (A) operational risks:
i) the cyclical nature and market conditions of the North American and
Latin American commercial construction industries, which impact our
three architectural segments; ii) consumer confidence and the conditions
of the U.S. economy, which impact our large-scale optical segment; iii)
actions of competitors or new market entrants; iv) ability to fully and
efficiently utilize production capacity; v) product performance,
reliability, execution or quality problems; vi) installation project
management issues that could result in losses on individual contracts;
vii) changes in consumer and customer preference, or architectural
trends and building codes; and viii) dependence on a relatively small
number of customers in certain business segments; (B) financial risks:
i) revenue and operating results that are volatile; and ii) financial
market disruption which could impact company, customer and supplier
credit availability; (C) self-insurance risk related to a material
product liability or other event in which the company is liable; (D)
cost of compliance with environmental regulations; (E) potential impact
on financial results if one or more senior executives were no longer
active with the company; and (F) integration of two recent acquisitions.
The company cautions investors that actual future results could differ
materially from those described in the forward-looking statements, and
that other factors may in the future prove to be important in affecting
the company’s results of operations. New factors emerge from time to
time and it is not possible for management to predict all such factors,
nor can it assess the impact of each such factor on the business or the
extent to which any factor, or a combination of factors, may cause
actual results to differ materially from those contained in any
forward-looking statements. For a more detailed explanation of the
foregoing and other risks and uncertainties, see Item 1A of the
company’s Annual Report on Form 10-K for the fiscal year ended
Source:
Apogee Enterprises, Inc.
Mary Ann Jackson, 952-487-7538
Investor
Relations
mjackson@apog.com