Marvin Windows shares $13.1 million in profits with employees

News Release
Marvin Windows

WARROAD, Minn. – December 22, 2007 – Marvin Windows and Doors, the premier manufacturer of made-to-order wood and clad wood windows and doors, today held its 51st annual profit-sharing meeting. During the meeting, Chairman and Chief Executive Officer Jake Marvin announced a profit-sharing of $13,107,962.88 to be distributed among 3,479 employees based at the company’s Warroad, Minn., Grafton, N.D. and Baker, Ore. facilities.
The annual profit-sharing meeting included an executive overview of the company’s business plan, vision for the future, and strategies to lead the company into 2007. Jake Marvin, along with company President Susan Marvin, shared progress reports and business activities.
Company President Susan Marvin summarized the company’s accomplishments saying, “Despite a challenging housing market we had a very good year. We enjoyed good remodeling business, good luxury home sales and landed some exciting commercial projects. Our customers have come rely on our consistent quality and delivery, and are enthusiastic about our innovative products and services. It was especially exciting to be recognized by J.D. Power and Associates as Ranking Highest in Builder and Remodeler Satisfaction among Residential Window and Patio Door Manufacturers this year.”
Chairman and CEO Jake Marvin looked to the future saying, “We no longer see the vision of The Marvin Companies as limited to exterior windows and doors. We believe we can leverage our core competencies—what we do particularly well—and be successful in developing new opportunities in related building products categories and even beyond. In order to do so, we must develop the organizational capability to identify, evaluate and execute new business initiatives. We may choose to build these new businesses from the ground up, or we may acquire them from others to better serve our customers. Over time, we’ll do both.”