Serious Materials Acquires Bankrupt Kensington Windows Creating Green Collar Jobs
Serious Materials has acquired assets of former Kensington Windows which was forced to shut down all operations in October as their parent company Jancor Cos lost its financing and filed for bankruptcy protection last year. Kensington Windows, based in Vandergrift, Pa., produced vinyl replacement windows and doors and employed more than 150 people.
Serious Materials plans to reopen the plant within the next 30 days, installing new equipment to make super-insulating windows and commercial glass, and immediately creating new green collar jobs.
This acquisition, along with additional expansions already in process for Serious Materials in Colorado and California are driving a 10 fold increase in manufacturing capacity for their super-insulating Serious Windows and Serious Glass product lines. The majority of this new capacity is coming on line in Q1, 2009.
Pennsylvania State Senator Don White, Chairman of the Banking and Insurance committee greeted today's news with great appreciation. "During these very difficult economic times, it is a testament to the cooperative efforts of all parties involved that this facility will reopen and again provide quality, family sustaining jobs in southwestern Pennsylvania. I appreciate Serious Materials investment in our community and PNC Banks' willingness to coordinate the effort to bring this facility back to life."
The average tenure of the Kensington work force was 18 years, with 9% having more than 30 years with the company.
Copyright Agence France-Presse, 2009
