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Sarasota-Manatee
Business Observer Tuesday, Dec. 7, 2010 7 years ago

PGT relocation costs $7 million

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Shuttering its North Carolina plant may cost PGT Inc. up to $7 million.

VENICE — PGT Inc. will spend $7 million to close its window and door manufacturing facilities in North Carolina, but expects to eventually break even on the move, with roughly $3.5 million in savings earned back in 2011.

The company will spend between $3.5 million and $4 million on severance and other related benefits for the 468 positions it is eliminating in North Carolina, according to a document filed with the Securities and Exchange Commission. Relocating equipment and materials to its facilities in Venice, where the company is based, will cost an additional $3 million.

PGT Inc. recently announced that it would be moving 300 manufacturing jobs from its North Carolina facility to Venice, and that it planned on adding another 400 jobs over the next five years.

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