PGT Innovations (NYSE: PGTI), a national leader in the premium window, door, and garage door industry, is proud to announce the establishment of Triple Diamond GlassTM, a PGT Innovations company, marking a significant milestone in the organization’s strategic growth. Triple Diamond Glass will offer innovative solutions to window and door manufacturers in the areas of energy efficiency, security, and sound abatement applications. The initial products to be produced include Tri-UltraTM thin triple insulated glass units (IGUs) and Diamond GlassTM laminated glass units. The operations for Triple Diamond Glass will be housed in a state-of-the-art facility strategically located in Prince George, Virginia, just south of Richmond.
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From left to right: First row – Stephanie Cz, Corporate Marketing Manager for PGT Innovations; Kim Taylor, Virginia House of Delegates; Floyd Brown Jr., Prince George Board of Supervisors; Donald Hunter, Prince George Board of Supervisors; Carrie Coyner, Virginia House of Delegates; Joe Benevento, Deputy Secretary of Commerce and Trade for Virginia; Glenn Youngkin, Governor of Virginia; Jeff Jackson, President and CEO of PGT Innovations; Rachel Evans, Senior Vice President Human Resources for PGT Innovations; Keith Boswell, President and CEO of Virginia’s Gateway Region Economic Development Organization. Second row - David McCutcheon, Senior Vice President of Business Integration for PGT Innovations; Bob Keller, Senior Vice President of Product Innovation and Technology for PGT Innovations; and Bruce Wesner, Senior Director of Automation and Reliability for PGT Innovations (Photo: Business Wire)
"The creation of Triple Diamond Glass represents a major step forward in our company’s journey,” said Jeff Jackson, President and CEO of PGT Innovations. “This addition to our PGT Innovations family, along with its new customer segment and manufacturing facility, perfectly supports our mission to provide solutions that enhance people’s lives. We are excited to bring these cutting-edge products and manufacturing capabilities to other manufacturers, homeowners, and the window and door industry, while also establishing a new business and approximately 650 careers in the state of Virginia."
“Today’s announcement is a gamechanger that will put more than 650 Virginians back to work, return the shuttered Rolls-Royce facility to productive use, and expand PGT Innovations’ footprint and brand into Virginia,” said Governor Glenn Youngkin. “Manufacturing is on the rebound, and the Commonwealth is leading the way. We look forward to supporting the future success of PGT Innovations in Prince George County.”
Triple Diamond Glass will initially focus on producing Tri-Ultra thin triple IGUs, which are in compliance with new energy efficiency values required to receive tax benefits under the Inflation Reduction Act and Energy Star® Version 7 guidelines, as well as Diamond Glass, which offers passive protection for home security, noise reduction, and easier operation. These products are tailored for homeowners in North and North Central climate zones.
Triple Diamond Glass will be the first and only manufacturer in the U.S. to offer easy, off-the-shelf, drop-in solutions with ultra-thin glass packages that fit current double-pane frame depths. The company’s products will be available for window and door manufacturers to incorporate into their own existing products by the end of the first quarter of 2024.
The 291,000-square-foot Triple Diamond Glass facility, located at 8800 Wells Station Road in Prince George, Virginia, was selected for its strategic placement close to the I-95 corridor and proximity to window and door manufacturers operating in northern climate zones. The region also boasts a highly skilled labor pool and an established manufacturing workforce, which will support the production and delivery of these high-quality products. Furthermore, the facility is equipped with cutting-edge technology, enhancing operational efficiency, and quality.
"We are excited about the possibilities this new facility offers,” said Bob Keller, Senior Vice President of Product Technology and Innovation for PGT Innovations. “The state-of-the-art equipment that will be used in the plant will ensure that we maintain the highest quality standards and the ability to continue to serve our customers as our operations grow. We are incredibly grateful for the support we received from both The Silverman Group and the Virginia Economic Development Partnership, which allowed us to quickly secure and retrofit this facility for our operations. The assistance provided by these groups and incentives offered from the state of Virginia made this location an even more attractive option for our strategic expansion."
Triple Diamond Glass and its innovative products represent a pivotal moment in the history of PGT Innovations, affirming the company's commitment to enhancing living spaces and creating a brighter and more secure future for homeowners and manufacturers alike.
For more information about Triple Diamond Glass and its product offerings, visit PGTInnovations.com/tdg.
About Triple Diamond GlassTM
Triple Diamond GlassTM, a PGT Innovations company, is the only glass manufacturer in the U.S. to use fusion drawn ATGTM technology from Corning® to develop and offer innovative solutions to window and door manufacturers in the areas of energy efficiency, security, and sound abatement applications. Triple Diamond Glass is also the first and only manufacturer in the U.S. to offer easy, off-the-shelf, drop-in solutions with ultrathin glass packages that fit current double pane frame depths. For more information, visit https://pgtinnovations.com/tdg.
About PGT Innovations, Inc.
PGT Innovations is a national brand and innovation leader in the fenestration and garage door industries. The company’s portfolio includes highly engineered and technically advanced products that can withstand some of the toughest weather conditions on Earth and are revolutionizing the way people live by unifying indoor and outdoor living spaces.
PGT Innovations creates value through deep customer relationships, understanding the unstated needs of the markets it serves, and a drive to develop category-defining products. Through its brands, PGT Innovations is also the nation’s largest manufacturer of impact-resistant windows and doors and holds the leadership position in its primary market.
The PGT Innovations family includes Triple Diamond GlassTM, a wholly owned subsidiary, and brands CGI®, PGT® Custom Windows and Doors, WinDoor®, Western Window Systems, Anlin Windows & Doors, Eze-Breeze®, Eco Window Systems, NewSouth Window Solutions, and Martin Door. The company’s brands, in their respective markets, are a preferred choice of architects, builders, and homeowners throughout North America and the Caribbean. Their high-quality products are available in custom and standard sizes with massive dimensions that allow for unlimited design possibilities in residential, multi-family, and commercial projects. For additional information, visit www.pgtinnovations.com.
Forward-Looking Statements
This press release contains "forward-looking statements" within the meaning of the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995. Forward-looking statements can be identified by words such as: "assume," "believe," "could," "estimate," "expect," "guidance," "intend," "many," "positioned," "potential," "project," "think," "should," "target," "will," "would" and similar references to future periods. Examples of forward-looking statements include, among others, statements we make regarding business growth, new technologies, and expanding our customer base.
Forward-looking statements are neither historical facts nor assurances of future performance. Instead, they are based only on current beliefs, expectations and assumptions regarding the future of our business, future plans and strategies, projections, anticipated events and trends, the economy and other future conditions. Because forward-looking statements relate to the future, they are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict and many of which are outside of our control. Our actual results and financial condition may differ materially from those indicated in the forward-looking statements. Therefore, you should not rely on any of these forward-looking statements. Important factors that could cause our actual results and financial condition to differ materially from those indicated in the forward-looking statements include, among others, the following:
- unpredictable weather and macroeconomic factors that may negatively impact the repair and remodel and new construction markets and the construction industry generally, especially in the state of Florida and the western United States, where the substantial portion of our sales are currently generated, and in the U.S. generally;
- changes in raw material prices, especially for aluminum, glass, vinyl, and steel, including, price increases due to the implementation of tariffs and other trade-related restrictions, Pandemic-related supply chain interruptions, or interruptions from the conflict in Ukraine;
- our dependence on a limited number of suppliers for certain of our key materials;
- our dependence on our impact-resistant product lines, which increased with the acquisition of Eco Enterprises, LLC ("Eco"), and contemporary indoor/outdoor window and door systems, and on consumer preferences for those types and styles of products;
- the effects of increased expenses or unanticipated liabilities incurred as a result of, or due to activities related to, our recent acquisitions, including our acquisitions of Martin Door Holdings, Inc. ("Martin") and Anlin Windows & Doors ("Anlin");
- our level of indebtedness, which increased in connection with our recent acquisitions, including our acquisitions of Martin and Anlin;
- increases in credit losses from obligations owed to us by our customers in the event of a downturn in the home repair and remodel or new home construction channels in our core markets and our inability to collect such obligations from such customers;
- the risks that the anticipated cost savings, synergies, revenue enhancement strategies and other benefits expected from our acquisitions of Martin and Anlin may not be fully realized or may take longer to realize than expected or that our actual integration costs may exceed our estimates;
- increases in transportation costs, including increases in fuel prices;
- our dependence on our limited number of geographically concentrated manufacturing facilities, which increased further due to our acquisition of Eco;
- sales fluctuations to and changes in our relationships with key customers;
- federal, state and local laws and regulations, including unfavorable changes in local building codes and environmental and energy code regulations;
- risks associated with our information technology systems, including cybersecurity-related risks, such as unauthorized intrusions into our systems by "hackers" and theft of data and information from our systems, and the risks that our information technology systems do not function as intended or experience temporary or long-term failures to perform as intended;
- product liability and warranty claims brought against us;
- in addition to our acquisitions of Martin and Anlin, our ability to successfully integrate businesses we may acquire in the future, or that any business we acquire may not perform as we expected when we acquired it; and
- the other risks and uncertainties discussed under “Risk Factors” in Part I, Item 1A of our Annual Report on Form 10-K for the year ended December 31, 2022, and our other filings with the Securities and Exchange Commission.
Any forward-looking statement made by us in this press release is based only on information currently available to us and speaks only as of the date on which it is made. We undertake no obligation to publicly update any forward-looking statement, whether written or oral, that may be made from time to time, whether as a result of new information, future developments or otherwise.
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