A Cleveland company bought the American Weather-Seal plant in Boardman.
By DON SHILLING
VINDICATOR BUSINESS EDITOR
BOARDMAN -- The buyer of a Boardman aluminum extrusion plant intends to keep it open while closing another plant it is acquiring in Norton.
Profile Group of Cleveland bought the American Weather-Seal plants Monday from American Architectural Products Corp. for $1.5 million.
Officials for both companies couldn't be reached for comment today, but documents filed in U.S. Bankruptcy Court in Youngstown say that Profile Group intends to operate the Boardman plant and maximize business there.
Some operations now done at the Norton plant will be moved to the Boardman plant on Lake Park Road, documents say.
The sale was approved by Judge William Bodoh as American Architectural, which used to be based in Boardman, sells off some of its assets as part of its reorganization plan. The window and door maker filed for bankruptcy protection in December 2000.
Losing money: American Architectural said in documents that American Weather-Seal operations have been losing "substantial money for some time" and have been a cash drain. The company is selling off operations that won't be in its core business after it reorganizes, it said.
The Boardman plant employed about 100 people in 2000.
American Architectural used to have two other local plants and its corporate headquarters in Boardman. But heavy financial losses and large debt forced it to sell its vinyl extrusion plant in Austintown and close its window plant in Youngstown in 2000. Both employed about 100.
The company used to have its headquarters with about 40 employees in Boardman, but the headquarters moved to Miami. It still retains a small administrative office in Boardman.
Before it ran into financial trouble, American Architectural had rapidly expanded into one of the largest window companies in the United States by buying window and door makers and aluminum and vinyl extruding companies around the country. It was unable to make a profit, however.
Sales grew from $5 million in 1995 to $314 million in 1999. The company at one time had 3,500 employees.
Started company: Frank Amedia, a former official at Youngstown Metropolitan Housing Authority, started the company in 1986 by making screens in a garage on Albert Street on Youngstown's East Side. He later joined with George Hofmeister, a Salem businessman, when the company began expanding.
Amedia resigned in 2000 after the company reported a $47 million loss in 1999.