Bayport, Minnesota-based Andersen Corp. is closing out 2023 by paying out $55.4 million in profit sharing to its employees.

That’s an increase of 33.5% over 2022 when the window and door manufacturer shared $41.4 million in profits with its workers.

“Despite high interest rates impacting the housing market, Andersen continued to achieve remarkable growth in 2023,” Chris Galvin, Andersen’s president and CEO, said in a Thursday news release.

“This success is a testament to the unwavering commitment, adaptability, and resilience of our employees. We take pride in acknowledging our employees for embodying our core values and going above and beyond to consistently exceed customer expectations,” Galvin said.

Eligible employees will receive up to $4,400 per employee in profit sharing.

Founded in 1903, today’s Andersen employs more than 13,000 people and operates manufacturing facilities in North America and Europe.

Its window and door products are purchased by customers in the new residential, light commercial, home improvement, and remodeling market segments.

Huge Georgia facility under construction

One month ago, Andersen executives traveled to Georgia to take part in a groundbreaking ceremony for building a state-of-the-art manufacturing facility that’s expected to cost $420 million.

Currently, Andersen operates 20 manufacturing and distribution facilities.

“We are thrilled to be investing in a facility that will help us meet homeowner demand for our Renewal by Andersen products and expand our footprint further into the southeast,” CEO Galvin said, according to a Nov. 16 press statement.

The new manufacturing facility will be located in Locust Grove, Georgia, which is about 40 miles southeast of Atlanta. While this will be the first plant in Georgia, Andersen Logistics operates a distribution center in Douglasville and an Andersen Windows Inc. office is in Marietta.

At full capacity, the new manufacturing facility—638,000 square feet in size—will employ about 900 people. It is expected to begin operations in early 2025.

“The products to be manufactured at the facility in Locust Grove will use Andersen’s unique Fibrex material,” the company said in a prepared statement. Andersen describes that material as “a high-quality, long-lasting engineered composite that garnered more than 25 United States patents over time and has become a different and better material used in numerous Andersen and Renewal by Andersen product lines.”