JELD-WEN Announces Strategic Review of Australasia Business

CHARLOTTE, North Carolina, August 30, 2022 /PRNewswire/ — JELD-WEN Holding, Inc. (NYSE: JELD), one of the world’s leading manufacturers of building products, today announced that it has initiated a comprehensive review of strategic alternatives for its business in Australasia.

“We are executing our strategy to maximize shareholder value and position JELD-WEN for long-term success,” said David North, Chairman of the JELD-WEN Board of Directors. “As part of this effort, the board is evaluating a range of options for our Australasia business, which represents approximately 10% of global revenue. This review is in line with our goal to streamline and simplify our operations in the whole company.”

Nord continued: “The Australasia business achieved leading market positions and delivered strong and consistent results. Australasia is well positioned for long-term growth, and this strategic review will assess options for this high-quality business with the aim of unlocking value for all stakeholders.”

The Australasia Company is Australia’s leading designer, manufacturer and distributor of windows and doors. It employs approximately 5,000 people and includes 41 manufacturing sites across Australia, Malaysia and Indonesia. Its notable brands include Corinthian®, Stegbar® and Breezway®, among many others.

No guarantees can be made regarding the outcome or timing of the exam, but JELD-WEN plans to conduct this process expeditiously. The Company does not intend to make any further comments unless and until it determines that further disclosure is material and appropriate for disclosure or as required by law.

JELD-WEN has retained Macquarie Capital as financial advisor and Herbert Smith Freehills as legal advisor to assist in the strategic review of the Australasia business.

About JELD-WEN, Inc.
Based at Charlotte, NOT.VS., JELD-WEN is one of the world’s leading manufacturers of high-performance interior and exterior building products, offering one of the widest selections of windows, interior and exterior doors, and wall systems. JELD-WEN offers a differentiated customer experience, providing construction professionals with durable, energy-efficient products and labor-saving services that help them maximize their productivity and create beautiful, safe spaces for all to enjoy. The JELD-WEN The team is driven by innovation and committed to creating safe and sustainable environments for customers, associates and local communities. The JELD-WEN brand family includes JELD-WEN® worldwide; LaCantina™ and IPV™ in North America; Sweden® and DANA® in Europe; and Corinthien®, Stegbar®, and Breezway® in Australia.

Forward-looking statements
Certain statements in this press release are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including statements regarding our business strategies and ability to execute our plans, market potential, future financial performance , customer demand, the potential of our categories, brands and innovations, the impact of our program to streamline and modernize our footprint, the impact of acquisitions and divestitures on our business and our ability to maximize value and to integrate operations, our pipeline of productivity projects, the estimated impact of tax reform on our results, the results of litigation and our expectations, beliefs, plans, objectives, outlook, assumptions or other future events. Forward-looking statements are generally identified by our use of forward-looking terms such as “anticipate”, “believe”, “continue”, “could”, “estimate”, “expect”, “intend”, ” may’, ‘could’, ‘plan’, ‘potential’, ‘predict’, ‘seek’ or ‘should’, or the negative thereof or other variations thereof or comparable terminology. in any forward-looking statement we express an expectation or belief about future results or events, such expectation or belief is based on our management’s current plans, expectations, assumptions, estimates and projections. based on reasonable expectations, assumptions, estimates and projections, they are only predictions and involve known and unknown risks, many of which are beyond our control and could cause actual results to differ materially from what ows indicated. in such statements.

The risks and uncertainties that could cause actual results to differ materially from these statements include risks associated with the impact of the COVID-19 pandemic on the business and our employees, customers and suppliers, and other factors. , including factors discussed in our annual reports. on Form 10-K and our other filings with the Securities and Exchange Commission.

SOURCE JELD-WEN Holding, Inc.

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