Solid forecast for roofing tile
Roofing tile demand in the US is projected to advance 5.4% per year to just under 5.0 million squares in 2021. That’s according to a new report from the Cleveland, Ohio-based The Freedonia Group.
According to the group’s new study, New construction applications accounted for the larger share of roofing tile demand in 2016 and will continue to do so going forward, totaling 80% of the market in 2021.
Roofing tile demand plummeted during the Great Recession as housing starts fell precipitously in those parts of the US where roofing tiles are often specified, such as southern California; Las Vegas, Nevada; Phoenix, Arizona; and many parts of Florida.
In terms of material type, concrete is the material of choice. “Concrete roofing tiles dominate demand due to their lower cost and heavier weight compared to clay tiles,” said Freedonia analyst Matt Zielenski.
Freedonia described the “Leading industry players” as CertainTeed, GAF Materials and Owens Corning.
Pella acquires Bonelli Windows & Doors
Pella Corp. has acquired Bonelli Windows & Doors, a luxury window and door manufacturer and design firm based in San Francisco.
In a statement issued by Pella, the window and door manufacturer said that Bonelli’s “presence and focus on their customers is a great fit for Pella’s luxury portfolio.” Since 1967, Bonelli has been known for its custom aluminum products with insulated barriers used from coast to coast in both residential and commercial projects.
“Bonelli is an exceptional business that has built a highly reputable name in the luxury market, a market in which Pella has been focused on building its presence,” said Cole Adrian, VP of Pella's luxury division. “We are honored to have them be a part of Pella, to share knowledge and resources to serve the marketplace better.”
While terms of the deal were not disclosed, the acquisition is effective today. Bonelli’s 25 employees will continue to work out of the main headquarters in South San Francisco and maintain its brand equity within the luxury space. Also, company president David Bonelli will continue to lead the business.
“At Bonelli, we have worked diligently to build a reputation based on quality, performance, and dedication to achieving clients’ design visions,” Bonelli said. “With the capabilities and culture both of these companies possess, we will continue on a solid foundation for even more possibilities to serve our clients.”
Bonelli joins a list of Pella luxury acquisitions including Grabill Windows & Doors (acquired in 2015), Reilly Windows & Doors (attained in July 2016) and Duratherm Window Corporation (added in November 2016). Pella is headquartered in Pella, Iowa, and operates 14 manufacturing locations. The company is privately held.