Bankruptcy Court Approves Purchase of Select Assets of Republic Windows by Serious Materials, Inc.
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Serious Materials Intends to Reopen Former Republic Plant: Creating Green Collar Jobs and Manufacturing Energy Efficient Windows SUNNYVALE, Calif. & CHICAGO--(Business Wire)-- Serious Materials, Inc. announced today that it has received approval from the bankruptcy court and closed the acquisition of certain assets, primarily production equipment, of the former Republic Windows and Doors plant based in Chicago. Serious Materials also has completed an agreement with the union to move forward and intends to reopen the plant for the manufacturing of its SeriousWindows and SeriousGlass and create much needed green collar jobs. Republic Windows garnered national attention in December when it declared bankruptcy, closed its doors, and left 300 people unemployed just before the holidays. "This is an important step in the process but there is a still a lot of work to be done," said Kevin Surace, CEO of Serious Materials. "We appreciate all of the support we have received from the community thus far and we are hopeful that we can quickly re-open the plant and get people back to work." President Obama said Tuesday night in his State of the Union Address, "We will put Americans to work making our homes and buildings more efficient so that we can save billions of dollars on our energy bills." Serious Materials is already creating green collar jobs in plants across the country including Vandergrift, Pennsylvania; Sunnyvale, California; Boulder, Colorado; and soon in the President`s home town of Chicago. With this expansion, Serious Materials will be able to meet the continued demand for its highly-insulated SeriousWindows and SeriousGlass. Currently installed in over four million square feet of both residential and commercial buildings, SeriousWindows exceed the current Energy Star standards by up to 400 percent. With the recent acquisition of Republic Windows and last month`s Pennsylvania-based Kensington Windows, Serious Materials expects to ramp up production this year by tenfold for its SeriousWindows and SeriousGlass product lines. "World Business Chicago welcomes Serious Materials and their efforts to rehire Chicagoans, moving us toward a sustainable environment and energy future. We look forward to supporting their work here," Rita Athas, executive director of World Business Chicago. SeriousWindows are available in a full range of commercial and residential styles, including single-hung, double-hung, gliders, casement, sliding doors and swing doors, as well as glass for curtain wall and storefront systems. Additionally, residential windows are available in a composite, stainable, wood grain interior finish for high-end homes. Residential windows may be ordered now through authorized dealers across the U.S. Customers may call (800) 797-8159 for more information or go to www.SeriousWindows.com. About Serious Materials Serious Materials develops and manufactures sustainable green building materials that save energy, save money, improve comfort and aggressively address climate change. The company was voted #1 at Cleantech Forum XII, won Global Gypsum Product of the Year 2008, won the first Aspen Institute award for innovation in Energy Conservation and was awarded Green Product of the Year by Popular Science. It has also been recognized by TIME/CNN, Fortune, Business Week, AlwaysOn and Red Herring as one of the top green technology companies. Serious Windows and Glass reduce heating and cooling energy costs by up to 50% and improve occupant comfort. QuietRock soundproof drywall and QuietHome Windows reduce material use, enhance livability, and support dense sustainable urban construction. And EcoRock uses 80% less energy in its core production and has the potential to save billions of pounds of CO2 annually making it the only true green alternative to gypsum drywall and five times more environmentally friendly. The company is working to create thousands of cleantech jobs here in the U.S. For more information, visit www.SeriousMaterials.com. Vantage Communications for Serious Materials Catriona Harris, +1-407-621-1418 email@example.com Copyright Business Wire 2009