Apogee Enterprises, Inc. the parent company of Viracon Statesboro announced that it has entered into an agreement to sell its Architectural Glass facility located in Statesboro to Cardinal Glass Industries.
No GAP in Employment expected
In August, Apogee had announced its intent to close the Statesboro location as a part of a broader restructuring plan. In this announcement, they planned to close the Statesboro Glass plant by December 31, 2021 and all 200 employees would have been out of work.
In the most recent statement Apogee announced that Cardinal Glass plans to repurpose the facility to support its residential glass business. However, the transaction, according to the statement, is not expected to close until the fourth quarter of fiscal 2022, subject to certain closing conditions.
With the announcement previously of Viracon closing in 2021 and this announcement stating that the closing of the deal would not take place until 2022, there was a concern that the plant would shut down for a period of time, before it reopened as Cardinal LG.
Statement and dates clarified
“I am sorry about any confusion regarding the closing date. We are currently in Apogee’s fiscal year 2022, which ends in February 2022,” said Jeff Huebschen, VP, Investor Relations & Communications, Apogee Enterprises, Inc. “So the 4th quarter of our fiscal 22 is Dec 2021 to Feb 2022. We expect the transaction to close during that period. This will create very little, if any gap in employment.”
Apogee CEO praises deal
“This sale agreement is a terrific outcome for Apogee, our employees in Statesboro, and the surrounding community,” said Ty R. Silberhorn, Apogee’s Chief Executive Officer. “This transaction will further improve Apogee’s already strong financial position and gives us more financial flexibility as we move forward with implementing our new enterprise strategy. I’d like to recognize the efforts of our Architectural Glass team for bringing this to a successful conclusion.”
Cardinal Glass excited about Statesboro
Kyle Petersen, President of Cardinal LG, added, “Cardinal Glass has a long history of working together with Apogee and its Viracon business. We are excited about the opportunity to purchase the Statesboro facility and expand Cardinal’s residential glass capability in the Southeastern United States. We are especially impressed with the quality of the team in Statesboro and look forward to building a lasting relationship with those employees and the Statesboro community.”
About Cardinal Glass
Cardinal Glass Industries, Inc. is a private, management-owned company headquartered in Eden Prairie, Minnesota. With over 9,800 employees, operating from 44 factories, Cardinal Glass is a recognized leader in glass applications, magnetron sputtering, glass research and development.
For additional information about Cardinal Glass, go to www.cardinalcorp.com.