JELD-WEN Holding, Inc. (JELD): restructuring charge — JELD-WEN to close Atlanta plant; restructuring costs ~$19M, annual savings ~$11M

JELD-WEN Holding, Inc.

Plan to close manufacturing facility in Atlanta, GA to optimize footprint and drive operational efficiencies.
Pre-tax restructuring costs of approximately $19M, substantially all by end of Q3 2023.
Cash items expected to be ~$15M, including ~$3M of capital expenditures.
Annual cost savings estimated at ~$11M upon completion of the Plan.
Plan expected to be substantially completed by end of Q3 2023.

Key facts

Extracted from this filing and checked against the source text.

Restructurings & Charges SEC 8-K Item 2.05/2.06 confidence 0.9

JELD-WEN Holding, Inc. announced a restructuring with charges of approximately $19 million affecting manufacturing facility in Atlanta, Georgia.

Type: restructuring
Charge: approximately $19 million
Affected area: manufacturing facility in Atlanta, Georgia

Exact text from the filing

On January 26, 2023, JELD-WEN Holding, Inc. (the “Company”) announced to employees a restructuring plan to close a manufacturing facility in Atlanta, Georgia in a continuing effort to optimize the Company’s footprint and drive operational efficiencies (the “Plan”). The Company expects to incur pre-tax restructuring expenses, other closure costs and capital spending, including building restoration, equipment relocation and employee-related costs, of approximately $19 million, substantially all of which are expected to be incurred by the end of the third quarter of 2023.

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Source: SEC EDGAR

accession 0001674335-23-000004

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