FYPON TO MERGE WITH THERMA-TRU DOORS
Maumee, OHIO, (September 29, 2009) - Fortune Brands Home & Security today announced that it will integrate the operations of its Fypon brand into its Therma-Tru Doors business. The integration will result in significant cost efficiencies and sales synergies in a persistently challenging residential housing market. Fypon, the brand name leader in the urethane millwork industry, is based in Archbold, Ohio. Therma-Tru Doors, the leading residential entry door brand, is headquartered in Maumee, Ohio.
“The merger brings two great brands together and offers the best opportunity to grow the Fypon brand” said Tom Riscili, president of Fypon. “A key benefit of this merger is that Fypon will now have national sales coverage provided by the Therma-Tru sales team enhanced by several members of our Fypon sales team. We believe Fypon has a great future ahead as part of the Therma-Tru family.”
As a result of the merger, many of the Fypon corporate departments in Archbold will be integrated within Therma-Tru and relocate to either Maumee or Therma-Tru’s manufacturing facility in Butler, Indiana. The full integration is planned to be completed by the end of the first quarter of 2010.
The Fypon brand will remain. Fypon’s Archbold facility will continue to operate and the brand’s customer service team will remain in Archbold. All distribution, fabrication, quick-rail and column wrap activities will continue to operate at the Archbold facility. Fypon will relocate the small percentage of polyurethane (PUR) production performed in Archbold to the company’s Yantai, China location. This decision will result in approximately 30 salaried positions and 19 hourly jobs being eliminated.
“I understand and regret that these decisions will impact many of our loyal employees and their families,” Riscili continued. “As always, Fypon is committed to providing all of our employees with fair and respectful treatment. We will offer transition assistance as well as job search training for any employees who will be affected by the merger. This decision is in no way reflective of the efforts or commitment of our Fypon employees.”
Fypon offers thousands of decorative millwork elements in a variety of architectural styles to enhance the interior and exterior of America’s homes. Each piece is crafted from tough, weather-proof, high-performance materials that are impervious to decay, insect infestation and water damage for long-lasting beauty and low maintenance. Part of consumer products company Fortune Brands, Inc. (NYSE: FO), Fypon is a brand name leader in the synthetics millwork industry. For additional information, call 1-800-446-3040 or visit the company’s web site www.fypon.com.
Therma-Tru Doors is the nation’s leading manufacturer and most preferred brand of fiberglass and steel exterior door systems. Founded in 1962, Therma-Tru pioneered the fiberglass entry door industry, and today offers a complete portfolio of entry and patio door system solutions, including decorative glass doorlites, sidelites and transoms, and door components. Therma-Tru, headquartered in Maumee, Ohio, is part of leading consumer brands company Fortune Brands Inc. (NYSE: FO). For more information on Therma-Tru Doors, visit www.thermatru.com or call (800) 537-8827.
* Therma-Tru is not a legal or tax advisor. The above information is not comprehensive and is not intended to substitute for the advice of a lawyer or professional tax advisor.