Ply Gem Industries, the building products manufacturer, has announced it will close its window and door manufacturing facilities in Hammonton, N.J., and Phoenix, Ariz.
The move will affect about 306 employees at the two plants, the Cary, N.C.-based company said in a Nov. 21 news release.
"This action was difficult in that it impacts a number of our employees. However, the market conditions that exist today and that are expected to persist into next year, combined with the competitive climate, demands the most efficient operating structure," Gary Robinette, Ply Gem president and CEO, said in a statement.
On Nov. 11, Ply Gem reported third-quarter 2008 sales fell 7.3% to $369.7 million as sales for the first nine months of the year shrank 10.1% to $940.5 million. The supplier also reported a net loss of $4.1 million for the quarter compared with a net income of $11.6 million in the third quarter 2007.
On Nov. 7, the company announced that its third-quarter results included a writedown of $200 million worth of goodwill as a result of the depressed market conditions for new construction and remodeling.