Woodworking Industry News

Woodworking Industry News

Builder confidence down for 10th straight month

WASHINGTON – Builder sentiment fell for the 10th straight month in October and traffic of prospective buyers fell to its lowest level since 2012 (excluding the two months in the spring of 2020 at the beginning of the pandemic). The National Association of Home Builders (NAHB) said that the results are a further signal that rising interest rates, building material bottlenecks and elevated home prices continue to weaken the housing market.

Woodworking Industry News

PGT Innovations acquires Martin Door

PGT Innovations, Inc., a national leader in premium windows and doors, including impact-resistant products and products designed to unify indoor/outdoor living spaces, today announced it has acquired Martin Door Holdings, Inc. (“Martin”) for a purchase price of approximately $185 million. Martin, manufacturer of the “World’s finest, safest garage doors,” is headquartered in Salt Lake City, UT, and is a leading custom manufacturer of premium overhead garage doors and hardware serving the Western U.S. residential and commercial markets. This transaction is consistent with PGT Innovations’ continuing move into adjacent building product categories that complement its current robust portfolio of strong window and door brands. The expansion of product categories, along with the breadth of markets currently served by Martin, supports PGT Innovations’ strategic plan to scale its business and grow in desirable markets and geographies. The addition of Martin’s established brand also further strengthens the Company’s market presence across the growing Western region, an area currently served by two of PGT Innovations’ window and door brands – Western Window Systems and Anlin Windows & Doors.