AM I NEXT? NO LOVE AT APOGEE ENTERPRISES (02/01/24)

Am I Next? Apogee Enterprises closing two glass plants.

FEBRUARY 1, 2024 — RESTRUCTURING WITH PLANT CLOSURE AND LAYOFFS

The company continues to implement "Project Fortify” to further improve cost structure, enhance organizational efficiency, and enable focus on higher growth and higher margin opportunities.

The company will lay off 250 employees and close a Walker, Michigan plant and some administrative offices as part of the company's latest plan to improve its profit margin.

Apogee Enterprises announced strategic actions to further streamline its business operations, enable a more efficient cost model, and better position the Company for profitable growth.

Project Fortify includes the following strategic changes related to the Architectural Framing Systems (AFS) segment:

Eliminating certain lower-margin product and service offerings, enabling the consolidation of AFS into a single operating entity.

Transferring production operations from the Company’s facility in Walker, Michigan, to the Company’s facilities in Monett, Missouri, and Wausau, Wisconsin.

Simplifying the segment’s brand portfolio and commercial model to improve flexibility, better leverage the Company’s capabilities, and enhance customer service.

Additionally, the Company will implement actions to optimize processes and streamline resources in its Architectural Services and Corporate segments.

The Company will begin executing these actions immediately and expects to be substantially completed in the third quarter of fiscal 2025.

The actions announced today are expected to lead to annualized cost savings of $12 million to $14 million and reduce the Company’s workforce by approximately 250 employees. The Company expects approximately 60% of the savings to be realized in fiscal 2025 and the remainder in fiscal 2026. The Company expects that approximately 70% of the savings will be realized in the AFS segment, 20% in the Architectural Services segment, and 10% in the Corporate segment.

AUGUST 27, 2021 — Original post…

Bloomington, Minnesota-based Apogee Enterprises, an architectural products design and services company specializing in glass and aluminum window, storefront and curtainwall systems, has announced a restructuring effort that will see the closure of two glass facilities located in Statesboro, Georgia and Dallas, Texas.

According to the company, "Apogee Enterprises plans to realign and simplify its business structure, bring a stronger focus to serving customers, enable a more competitive cost model, and better position the company for future growth and improved profitability. These actions are the initial steps in executing the company’s new enterprise strategy which include focusing the Architectural Glass segment to emphasize premium, high-performance products.

As a result, the company will close the Viracon facility in Statesboro, Georgia. Work currently performed in Statesboro will be transitioned to the company’s facility in Owatonna, Minnesota, which has adequate capacity to support the additional activity. The company will also exit the Velocity business and close its facility in Dallas, Texas.

The layoffs will impact 400 employees, including 198 in Georgia, mainly in the architectural framing segment of the business. Layoffs will be phased starting in October 2021 and scheduled for completion by the end of December.

According to Apogee Chief Executive Ty Silberhorn, "Through our enterprise strategy work, we are developing a roadmap for Apogee to become the economic leader in our target markets, bringing the best value to our customers. Our goals are to focus on the most attractive long-term opportunities, while ensuring we have the operating model and capabilities needed to consistently deliver profitable growth. These moves will strengthen customer focus, simplify operations, improve execution, and enable a more competitive cost

Change is coming. There will always be a tomorrow, no matter how much you may try to ignore it. There are no guarantees in life or promises for a bright future. Just because something bad hasn't happened yet, doesn't mean it won't. It can happen to anyone, anytime, anywhere. No one is guaranteed to wake up tomorrow and still have a job by evening. Are you now wondering, Am I Next?