Fortune Brands To Sell Simonton Windows To Ply Gem For About $130 Mln

(RTTNews) - Fortune Brands Home & Security, Inc. (FBHS), a home and security products company, Wednesday said it would sell Simonton Windows to Ply Gem Holdings, Inc., (PGEM) a manufacturer of exterior building products in North America, for nearly $130 million. The sales is expected to lower Fortune Brands' second half earnings per share from continuing operations by 2 to 4 cents.

Headquartered in Columbus, Ohio, Simonton produces ENERGY STAR-qualified vinyl replacement and new construction windows and doors. The transaction is expected to occur in October.

Commenting on the sale, Chris Klein, CEO of Fortune Brands said: "...We also believe the sale of Simonton will allow us to more sharply focus on our Therma-Tru entry door and Fypon trim business and position us to further increase operating results in 2015."