Genesee Valley Windows Moves FacilitiesSeptember 18th, 2012 | Category: Industry News
Tom Panek, CEO of Genesee Valley Windows in Flint, Mich., has clarified to DWM that the company is not closing, and has just moved facilities.
“In 2007, we bought a very large facility and moved into it,” says Panek. “We recently sold that big building and moved back into our old building. The overhead of the new facility was killing us and we took an offer that we could not refuse. Plus, we still owned the previous building and it is more fitting to today’s size.”
Panek describes it as more of a strategic move than a closing.
“Due to a lack of window sales this year, we decided to put the plant in mothballs until the economy picks up again …. It will probably be into next year before we start production again.
In the meantime we are outsourcing our windows from a manufacturer who makes a very similar line as we did,” he says.
Panek says he is making these changes so he doesn’t join the list of manufacturers who have had to close.
“As you know, many window fabricators have bit the dust the last couple of years,” says Panek. “What we are doing is temporary so that we can come back in full force once the economy turns.
The biggest problem out there is lack of lending. We cannot get customers financed due to stringent regulations placed on the banks and lack of equity in the housing market. That plus those high gas prices are keeping consumers from purchasing windows.”