| WILMA HITS ALLSTATE 4Q POINTS
Claims related to last year’s Hurricane Wilma contributed to a nearly
nine-point drop in fourth-quarter earnings at Allstate Corp., the Northbrook,
IL-based insurer reported in January.
Wilma, which struck southern Florida as a Category 3 hurricane in October
2005, cost Allstate more than $500 million, the company stated. Total
catastrophe losses in fourth-quarter 2005 were $657 million, up from $412
million in the same period a year earlier.
Fourth-quarter revenues actually rose slightly for Allstate from $8.88
billion to $8.94 billion. Edward Liddy, chairman and CEO, stated the company
was “intentionally slowing” the writing of new property insurance
in some markets to limit exposure to catastrophe losses caused by hurricanes
and earthquakes.
HUD OFFERS MORTGAGE RELIEF FOR
HOUSES DAMAGED BY GULF COAST HURRICANES
The U.S. government will help an estimated 20,000 families make 12 months
of mortgage payments on homes that were damaged by the Gulf Coast hurricanes,
according to an announcement from the Department of Housing and Urban Development
(HUD) in December.
The program is meant to allow homeowners to return to their homes and concentrate
on putting their lives in order without having to worry about making mortgage
payments. The program will be available to those homeowners whose mortgages
are insured by the Federal Housing Administration, whose houses can be repaired
and who promise to return living in those houses. The program will not be
available to those whose houses must be completely rebuilt.
HUD estimates the new program will cost about $200 million, which will not
come from taxpayers. The money will be taken from reserves the agency has
built up from fees it charges borrowers and lenders, it says.
EMS BEGINS MULTI- FACILITY EXPANSION
EMS Florida, West Palm Beach, FL, has begun an extensive expansion project
that will nearly double its current capacity and include a new warehouse
in Lakeland.
EMS comprises four locations and approximately 260,000 square feet of warehouse
and manufacturing space. Construction is currently under way for a 40,000-square-foot
expansion to its Lake Worth facility, which includes 8,000 square feet of
new office space scheduled to be up and running by the summer of 2006. The
company also will break ground on a new 160,000 square-foot warehouse in
Lakeland.
Meanwhile, its West Palm Beach location has undergone upgrades. Additional
bay doors have been installed to increase its ability to deliver more material
to customers. By the end of construction in September 2006 EMS Florida will
total more than 460,000 square feet.
SBR DONATES BUILDING
PRODUCTS TO KATRINA VICTIMS
SBR, Inc. companies have teamed with home improvement expert Danny Lipford
to donate more than $1.4 million worth of building products to support
rebuilding efforts in the Gulfport, MS, area. SBR, Inc., Parkersburg,
WV, is a privately owned holding company, which includes Simonton Windows®,
Hy-Lite® Products, Fypon® and Dixie-Pacific™.
The donation was made to the North Carolina Baptist Men’s Group,
a non-profit organization committed to rebuilding 500 homes on the Mississippi
Gulf Coast over the next two years. Simonton Windows donated 848 vinyl-framed
windows and doors, Hy-Lyte Products donated 984 acrylic and glass block
framed windows along with 720 unframed glass block fillets, Fypon donated
5,690 low maintenance window and door crossheads, and Dixie-Pacific contributed
2,364 DuraCast fiberglass columns.
ROOFING COMPANIES
EXPAND TO MEET FLORIDA DEMAND
Four roof tile manufacturers are building new plants and are expected
to begin production this year to focus primarily on supplying the Florida
market. Thousands of residents in Florida still are in need of roof repairs
following the destructive hurricanes of the past two years, which have
fueled exceptionally high demand.
Entegra plans to begin production at its fourth Florida concrete roof
tile plant in Okeechobee in spring.
Hanson Roof Tile is building a new concrete roof tile plant in Sanderson
to be completed in September. It will produce 300,000 tiles a year.
MonierLifetile will begin construction on its fourth Florida plant this
year in Lake Wales. The new plant will increase the company’s production
by 40 percent.
US Tile’s new clay roof tile plant is being built in Trinidad with
most of its production to be exported to the Florida market.
According to the Tile Roofing Institute (TRI), concrete and clay tile
roofing continues to be preferred by homeowners in the Southeast based
on aesthetics and resistance to severe weather. With proper installation,
tile roofing can withstand sustained winds of 150 mph, TRI states.
SIMONTON TURNS
60
Simonton Windows, Parkersburg, WV, is celebrating its 60th anniversary
in 2006. To mark the milestone the company has already donated almost
$600,000 in window and doors to victims of Hurricane Katrina. In addition,
the company will make at least $60,000 worth of donations throughout the
year to organizations and events in communities where it operates manufacturing
facilities and will donate at least 60 windows to the non-profit organization
Homes for Our Troops.
“Simonton has a long history of supporting the communities, people
and organizations associated with our company,” said Rick Keup,
president. “Right now we’re on a strategic path toward increasing
our products, customer services and community support. That’s good
news for our employees, customers, consumers and the entire building industry.”
JELD-WEN OFFERS
FREE RESOURCES TO HELP HOMEOWNERS WITH WINDOW, DOOR DECISIONS
Jeld-Wen, Klamath Falls, OR, a leading manufacturer of windows and doors,
has introduced three free resource guides—including one specifically
for coastal regions—designed to help homeowners make the best decisions
for their building and remodeling projects.
The new guides include tips, design considerations and suggestions for
selecting windows and doors, as well as helpful worksheets and resource
listings. Each guide highlights a variety of appropriate Jeld-Wen product
options.
“Consumers spend billions every year on window and door installation
and replacement,” said Teri Cline, communications manager for Jeld-Wen.
“These new resource guides will help them make wise choices depending
on their specific goals and the conditions they face.”
The Jeld-Wen Coastal Selections Guide is designed for homeowners in coastal
regions and focuses on hurricane-area requirements and energy efficiency,
as well as design considerations and window and door products that will
withstand harsh coastal climate conditions.
The other two resource guides cover historic renovation and a remodeling
guide for homeowners.
ANDERSEN BUYS EAGLE WINDOW & DOOR
Andersen Corp., Bayport, MN, has completed its purchase of Eagle Window
& Door, Inc., an Iowa-based manufacturer of aluminum-clad wood windows
and patio doors. The terms of the agreement were not disclosed.
Eagle will be operated as a managed, wholly owned subsidiary. It employs
nearly 900 people in a new manufacturing facility in Dubuque, IA.
The purchase moves Andersen along in its plans to become “a more
complete supplier, especially in the high-end residential new construction
segment of the market,” said Jim Humphrey, president and CEO.
THERMA-TRU ANNOUNCES LEADERSHIP CHANGES
Therma-Tru® Doors, Maumee, OH, an operating unit of Fortune Brands
announces three changes within the corporate leadership team effective
December 1, 2005.
David D. Haddix, senior vice president and chief financial officer, has
been appointed senior vice president and general manager of the Residential
Business Unit. Haddix will be responsible for all market-facing activities
of the residential door business.
Joseph M. Herman has been named chief financial officer succeeding Haddix.
In his most recent assignment as director of finance and business development,
Herman was instrumental in the acquisitions of Southern Millwork Co. and
Sentinel Doors in the United Kingdom.
Jeffrey M. Glosser, vice president of global sourcing and logistics, will
assume additional responsibilities as vice president of information technology
and business process improvement.
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