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SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Form 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of
the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported)
November 14, 1994
Commission File No. 1-4087
Ply Gem Industries, Inc.
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(Exact Name of Registrant as Specified in its Charter)
Delaware 1-4087 11-1727150
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(State or other (Commission File No.) (IRS Employer
jurisdiction of Identification No.)
incorporation)
777 Third Avenue, New York, New York 10017
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(Address of Principal Executive Offices)
Registrant's Telephone Number: (212) 832-1550
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Items 1 - 4. Not Applicable.
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Item 5. Other Events.
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On November 14, 1994 the Company announced that the Board of Directors
of the Company had approved a Company stock purchase plan pursuant to which the
officers of the Company have been authorized to purchase for the Company up to
1,000,000 shares of the Company's common stock on the open market. Purchases may
be made from time to time subject to market conditions and other factors which
the Company may consider.
Item 6. Not Applicable.
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Item 7. Financial Statements, Pro-Forma Financial Information and Exhibits.
(c) Exhibits.
(20) Press Release issued November 14, 1994.
Item 8. Not Applicable.
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SIGNATURES
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Pursuant to the requirements of the Securities Exchange Act of 1934, as
amended, the Registrant has duly caused this report to be signed on its behalf
by the undersigned hereunto duly authorized.
Dated: November 23, 1994
PLY GEM INDUSTRIES, INC.
By: /s/ HERBERT P. DOOSKIN
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Herbert P. Dooskin
Executive Vice President
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EXHIBIT 20
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PRESS RELEASE
[PLY GEM LETTERHEAD]
New York, NY November 14, 1994
PLY GEM BOARD AUTHORIZES STOCK BUYBACK
New York, NY ... November 14, 1994 ... PLY GEM Industries, Inc. (AMEX:PGI) today
announced that its Board of Directors has adopted a stock purchase plan pursuant
to which the officers of the Company have been authorized to purchase up to
1,000,000 shares of PLY GEM stock on the open market. Purchases may be made
from time to time, subject to market conditions and other factors which the
Company may consider.
"By taking advantage of the excellent investment opportunity represented by the
current market price of our stock, we reaffirm our commitment to improving
stockholder returns and our confidence in PLY GEM's future. Our Board of
Directors feels that at the current range of prices, our stock will generate an
excellent return on investment," said Jeffrey S. Silverman, Chairman & CEO of
PLY GEM Industries, Inc.
Last week, PLY GEM announced that it has filed an application to list its common
stock on the New York Stock Exchange, where trading is expected to commence on
Thursday, December 1, 1994 under the ticker symbol "PGI". "Management and
employees own more than 25% of PLY GEM's outstanding shares, ensuring that our
priorities are aligned with our shareholders and that we share the risks and
rewards of investing in our Company.
Our outlook for the future remains very positive as our restructuring program
will accelerate favorable revenue and earnings growth as we move through 1995.
These actions taken by our Board of Directors confirm our confidence in PLY
GEM's ability to reach new levels of achievement in the years ahead which will
significantly enhance shareholder value," concluded Mr. Silverman.
A FORTUNE 500 Company, PLY GEM Industries, Inc. is a national manufacturer and
distributor of specialty products for the home improvement industry.
Co. Contact: Diane M. Cady
Vice President, Investor Relations
(212) 832-1550
