JELD-WEN Holding, Inc. (JELD): restructuring charge — JELD-WEN to close Vista, CA and Hawkins, WI plants; expects $45M in restructuring costs, $11M annual savings

JELD-WEN Holding, Inc.

Pre-tax restructuring costs of ~$45M including building restoration, equipment relocation, and employee-related costs.
Annual pre-tax income improvement of at least $11M after closures are completed.
Vista closure (composite windows, Auraline brand) by end of 2024; ~$21M costs, ~$4M annual savings.
Hawkins closure (wood windows) by Q1 2025; consolidation to Rantoul, IL; ~$24M costs, ~$7M annual savings.
Approximately 450 associates affected (110 in Vista, 340 in Hawkins); product line discontinued.

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 $45 million affecting manufacturing facilities in Vista, California and Hawkins, Wisconsin.

Type: restructuring
Charge: approximately $45 million
Affected area: manufacturing facilities in Vista, California and Hawkins, Wisconsin

Exact text from the filing

in a continuing effort to simplify the Company’s footprint and drive operational efficiencies. In connection with the Site Closures, the Company expects to incur approximately $45 million in pre-tax restructuring expenses and other closure costs, including building restoration, equipment relocation and employee-related costs, as well as asset-related charges.

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JELD-WEN Holding, Inc. filing history →

Source: SEC EDGAR

accession 0001674335-24-000089

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