Charlotte, NC -- Today, the U.S. District Court for the Eastern District of Virginia granted a motion by Steves and
Sons, Inc. seeking a preliminary injunction against JELD-WEN Holding, Inc. (NYSE: JELD). The injunction order will
not take effect until further briefing before the Court. JELD-WEN is disappointed in the Court’s ruling
and intends to seek an immediate appeal and stay once the injunction becomes effective. A trial on this matter
is expected this summer.
The Court’s order relates to the provisions of the supply agreement between JELD-WEN and Steves that govern
situations when demand for molded doorskins in North America exceeds JELD-WEN’s capacity to supply its
customers. Late last year, there was a significant increase in demand in the doorskins market, and Steves suddenly
and significantly increased its doorskin orders from JELD-WEN beyond what it had previously ordered. JELD-WEN then
announced that all doorskin customers, and JELD-WEN itself, would be allocated a proportional share of available
products, as JELD-WEN contends is allowed under its agreements with its customers. Steves demanded that
JELD-WEN nevertheless supply all the products Steves ordered, to the detriment of all of JELD-WEN’s other
doorskin customers and before JELD-WEN’s own needs.Steves was the only JELD-WEN customer to make such a
demand.
“We are disappointed in the court’s decision which provides an unfair market advantage to Steves at the
expense of our other customers, JELD-WEN, and the rest of the door market,” said JELD-WEN President and CEO
Gary S. Michel. “This latest lawsuit by Steves underscores its disregard for the letter and spirit of our
agreement. Steves’ unusual commercial behavior made it necessary for us to invoke allocation in the first
place. Steves’ unreasonable behavior is anti-competitive and unfair to JELD-WEN’s other customers and to
JELD-WEN itself.”
JELD-WEN remains committed to its customers and the door and doorskin markets and has invested hundreds of millions
of dollars building door and doorskin capacity over the last several years. “While JELD-WEN was investing in
its business, Steves has not built its own domestic doorskin production capabilities. Instead, Steves continues in
its efforts to unfairly benefit from JELD-WEN’s investment at the expense of other door competitors,”
Michel stated.
About JELD-WEN
JELD-WEN, founded in 1960, is one of the world’s largest door and window manufacturers, operating manufacturing
facilities in 20 countries located primarily in North America, Europe and Australia. Headquartered in Charlotte,
N.C., JELD-WEN designs, produces and distributes an extensive range of interior and exterior doors, wood, vinyl and
aluminum windows and related products for use in the new construction and repair and remodeling of residential homes
and non-residential buildings. JELD-WEN is a recognized leader in manufacturing energy-efficient products and has
been an ENERGY STAR® Partner since 1998. Our products are marketed globally under the JELD-WEN® brand, along
with several market-leading regional brands such as Swedoor® and DANA® in Europe and Corinthian®,
Stegbar®, and Trend® in Australia. For more information visit www.jeld-wen.com.
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Contacts:
Investor Relations: Chris Teachout, +1.704.378.7007 or [email protected]
Media Relations: Noreen Pratscher, +1.704.526.4146 or [email protected]