In the following press release, Mercer Industries announced that it will be shutting down its manufacturing operations.
Mercer Industries Winding Down Window Manufacturing Operations
Mercer Industries, the Beaverton-based manufacturer of Mercer Windows, today announced that it is winding down its manufacturing operations, citing the lingering effects of the recent recession. The eventual closure will affect approximately 70 employees, including management, sales staff and production workers located at Mercer’s Denney Road location in Beaverton, Ore. Staffing will be adjusted to complete existing orders, after which the plant will be closed.
Founded in 1926 as Mercer Steel, privately-held Mercer Industries has most recently manufactured commercial and residential vinyl and aluminum frame window and door products.
The Mercer board of directors commissioned a third-party business and financial analysis of its manufacturing and sales operations which concluded that an orderly winding down of operations was the only course of action to preserve the remaining value in the organization’s assets, which include several proprietary window design technologies. The company hopes to sell the manufacturing assets, but cannot continue normal operations during the search for a qualified buyer.
Shareholders, including the Mercer family, have gone to extraordinary lengths to sustain the company during the recent economic downturn, but the company does not have the scale to compete in an increasingly competitive market dominated by much larger corporations.
Mercer Industries is not declaring bankruptcy and carries almost no debt. The organization will honor its sales, warranty, supplier, employee and other commitments and believes it possesses the necessary capital required to support these obligations.
Additional questions can be addressed to Mercer’s Chief Restructuring Officer, Dan Boverman, who was brought on board to advise the Company regarding its situation and options, and will now help manage the shutdown of operations.
Chief Restructuring Officer
Phone: (503) 319-7727