Share “Fortune Brands to sell window business for...”

Fortune Brands to sell window business for $130M

Published on NewsOK Modified: August 20, 2014 at 7:55 am •  Published: August 20, 2014
Advertisement

NEW YORK (AP) — Fortune Brands Home & Security Inc. said Wednesday that it has agreed to sell its Simonton Windows business to building products maker Ply Gem Holdings Inc. for about $130 million.

The deal is expected to close in October.

Fortune Brands, which makes Master Lock padlocks, Kemper kitchen cabinets and Moen water faucets, said it is selling its window business to focus on its Therma-Tru door business and Fypon home trim business.

The company expects the sale of Simonton to cut its earnings per share during the second half of 2014 between 2 cents and 4 cents.

Ply Gem, which is based in Cary, North Carolina, said it is buying Simonton to help it grow its windows division and plans to operate the company as a stand-alone business.

Simonton is based in Columbus, Ohio and also has manufacturing facilities in West Virginia, Illinois and California.


AROUND THE WEB

  1. 1
    They took a 365-day honeymoon around the world
  2. 2
    PHOTOS: Charlotte-area couple's proposal goes awry
  3. 3
    Suspected car thief ends high-speed car chase with a quick dance party [VIDEO]
  4. 4
    Two sisters to be raped after their brother ran off with a married woman
  5. 5
    2 Dead, 5 Injured in Hazmat Situation in Suburban Home
+ show more

FEATURED JOBS



× Trending business Article