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Associated Materials Reports Increased 2007 Window Sales
Associated Materials Inc., manufacturer of Alside, Alpine, Gentek and Revere products, reported an overall decrease in sales for its 2007 fiscal year, but also pointed to a slight increase in its window sales. In its latest financial report, the company notes that while volumes remain unchanged, window sales increased from $411 million in 2006 to $418 million for 2007.
The company saw its overall 2007 sales slip 3.7 percent to $1.2 billion, which it attributed largely to decreases in vinyl siding. “Looking back at 2007, I am very pleased with our performance, which was noteworthy given the current state of the domestic housing market and the U.S. economy as a whole,” notes Tom Chieffe, Associated Materials president and CEO.
The company remains bullish on the window market. According to a March 13 presentation made at an investor conference hosted by Lehman Brothers, Associated Materials sees vinyl windows offering “major growth opportunities,” pointing to its relatively small share of what is still a fragmented marketplace. The company also points to installed sales as a “major strategic opportunity,” although it adds a caveat that this type of program must be rolled out slowly.
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