River City Glass is happy to announce that Jeld Wen windows and doors is strong as ever and still a leader in the market.
Last week one news organization speculated on JELD-WEN’s financial situation and stated that JELD-WEN had “failed” to sell bonds and that the company was therefore facing possible bankruptcy. This article is based on a false premise and is extremely misleading, but it was nonetheless perpetuated by other news media who likewise did not double-check the accuracy.
1) JELD-WEN is not facing bankruptcy. The Company has more than adequate cash and liquidity to conduct business as usual.
2) JELD-WEN has pre-marketed our bond offering, which is still in process and we have not yet attempted to price and sell our bonds.
3) JELD-WEN’s agreement with Onex is on track, and both JELD-WEN and Onex are committed to closing the transaction as planned. Onex released a public statement through Bloomberg this week stating, “We remain committed to the transaction, are working with the company to complete the financing, and expect to close in the coming weeks.”
We have taken steps to address the media with accurate information and we have had some success in securing more accurate reports in the trade and general media; however, misinformation persists and we understand that this causes uncertainty among those who are concerned about their current and future JELD-WEN orders. We would like to assure you that you have every reason to continue with your steadfast endorsement of our brand, products and service as you sell JELD-WEN windows and doors to your customers.
Thank you for your continued business and we appreciate your unwavering support.
|Warm regards,||Warm regards,|
|JELD-WEN, inc.||JELD-WEN, inc.|
|Rod Wendt||Philip Orsino|
|Chief Executive Officer||President|