HOUSTON, Nov. 2, 2015 /PRNewswire/ -- Quanex Building
Products Corporation (NYSE:NX) ("Quanex"), a leading supplier of
window and cabinet components, today announced the completion of
its previously-announced acquisition of Woodcraft Industries
("Woodcraft"). Woodcraft is a premier supplier of doors and
components to leading original equipment manufacturers ("OEMs") in
the kitchen and bathroom cabinet industry.
Bill Griffiths, Quanex's
Chairman, President and Chief Executive Officer, stated, "I am very
pleased to formally welcome Woodcraft to the Quanex team. The
combination of our two highly-complementary companies brings
numerous benefits to Quanex, principally through the expansion of
our addressable market to include the $3B kitchen and bath cabinet component
industry. We are likewise committed to supporting Woodcraft's
stellar reputation for product excellence and customer service, and
look forward to supporting their future growth opportunities."
Woodcraft's current management team, led by President
Dale Herbst, will continue to
operate Woodcraft from its St. Cloud,
Minnesota headquarters as a stand-alone, wholly-owned
subsidiary of Quanex.
About Quanex Building Products
Quanex Building Products Corporation is headquartered in
Houston, Texas, with locations
around the world. Our mission is, "to positively impact our
customers, employees and shareholders and put them at the center of
everything we do, through innovation, technology, best-in-class
customer service and excellent returns." An industry-leading
manufacturer of engineered materials and components for building
products sold to Original Equipment Manufacturers (OEMs), Quanex
designs and produces energy-efficient window and door products,
systems and solutions, as well as kitchen and bath cabinet
components.
Employing top talent, developing forward-thinking technologies
and solutions with an emphasis on energy efficiency and aesthetics,
continuous improvement and integrity remain the cornerstones of
Quanex's business as it positions itself for future growth in the
building products market.
For more information visit www.quanex.com.
Forward Looking Statements
Statements that use the words "estimated," "expect," "could,"
"should," "believe," "will," "might," or similar words reflecting
future expectations or beliefs are forward-looking statements. The
forward-looking statements include, but are not limited to, the
benefits accruing to Quanex from the acquisition of Woodcraft,
Quanex's support of future growth opportunities and the location
from which Woodcraft will be operated and its organizational
positioning. The statements set forth in this release are based on
current expectations. Actual results or events may differ
materially from this release. Factors that could impact future
results may include, without limitation, the effect of both
domestic and global economic conditions, the impact of competitive
products and pricing, the availability and cost of raw materials,
and customer demand. For a more complete discussion of factors that
may affect Quanex's future performance, please refer to Quanex's
Annual Report on Form 10-K for the fiscal year ended October 31, 2014, under the sections entitled
"Cautionary Note Regarding Forward-Looking Statements" and "Risk
Factors," and in our other documents filed with the Securities and
Exchange Commission from time to time. Any forward-looking
statements in this press release are made as of the date hereof,
and Quanex undertakes no obligation to update or revise any
forward- looking statements to reflect new information or
events.
Contact Information:
Media Contact:
Jonathan Morgan or
Jennifer Sanders
Perry Street Communications
jmorgan@perryst.com
jsanders@perryst.com
214-965-9955
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SOURCE Quanex Building Products Corporation