Chairman and CEO of The Marvin Companies Will Continue to Head One of 12 Reserve Banks

WARROAD, Minn., August 11, 2010 – John W. (Jake) Marvin, Chairman and CEO of The Marvin Companies, has been selected by the Federal Reserve Board of Governors to serve another term as chair of the Federal Reserve Bank of Minneapolis. Marvin’s new term will expire Dec. 31, 2011.

The Minneapolis bank is one of 12 regional Federal Reserve Banks across the country. As chair, Marvin heads a nine-person board of directors overseeing the bank’s operations. The Minneapolis bank serves the 9th Federal Reserve District, encompassing Minnesota, North Dakota, South Dakota, Montana and portions of northern Wisconsin and Michigan.

“I’m honored that the Board of Governors has again entrusted me with leading the Minneapolis bank,” Marvin said. “It’s a great responsibility, and I look forward to working with the bank’s outstanding staff and my fellow directors to support the growth and health of businesses in our district.”

The Federal Reserve Bank of Minneapolis works to promote safety and soundness in the nation’s banking system.  The bank also gathers and analyzes economic data and research in its district; operates an electronic payment system for financial institutions; provides coins and currency in the district; and works to encourage community investment.

Marvin is Chairman and Chief Executive Officer of The Marvin Companies, headquartered in Warroad, Minn. The Marvin Companies includes three window and door companies: Marvin Windows and Doors; Integrity Windows and Doors; and Infinity Replacement Windows.

A graduate of Parsons College in Iowa, Marvin holds a Doctor of Jurisprudence degree from the University of Houston. He has worked for The Marvin Companies since 1974 and has served on the board of the Federal Reserve Bank of Minneapolis since 2006.

Marvin also serves on the board of directors of Hubbard Broadcasting, Inc.; on the Executive Committee of the Minnesota Business Partnership; and on the board of directors of the Northwestern Minnesota Manufacturers Association.

Chairman and CEO of The Marvin Companies Will Continue to Head One of 12 Reserve Banks

WARROAD, Minn., August 11, 2010 – John W. (Jake) Marvin, Chairman and CEO of The Marvin Companies, has been selected by the Federal Reserve Board of Governors to serve another term as chair of the Federal Reserve Bank of Minneapolis. Marvin’s new term will expire Dec. 31, 2011.

The Minneapolis bank is one of 12 regional Federal Reserve Banks across the country. As chair, Marvin heads a nine-person board of directors overseeing the bank’s operations. The Minneapolis bank serves the 9th Federal Reserve District, encompassing Minnesota, North Dakota, South Dakota, Montana and portions of northern Wisconsin and Michigan.

“I’m honored that the Board of Governors has again entrusted me with leading the Minneapolis bank,” Marvin said. “It’s a great responsibility, and I look forward to working with the bank’s outstanding staff and my fellow directors to support the growth and health of businesses in our district.”

The Federal Reserve Bank of Minneapolis works to promote safety and soundness in the nation’s banking system.  The bank also gathers and analyzes economic data and research in its district; operates an electronic payment system for financial institutions; provides coins and currency in the district; and works to encourage community investment.

Marvin is Chairman and Chief Executive Officer of The Marvin Companies, headquartered in Warroad, Minn. The Marvin Companies includes three window and door companies: Marvin Windows and Doors; Integrity Windows and Doors; and Infinity Replacement Windows.

A graduate of Parsons College in Iowa, Marvin holds a Doctor of Jurisprudence degree from the University of Houston. He has worked for The Marvin Companies since 1974 and has served on the board of the Federal Reserve Bank of Minneapolis since 2006.

Marvin also serves on the board of directors of Hubbard Broadcasting, Inc.; on the Executive Committee of the Minnesota Business Partnership; and on the board of directors of the Northwestern Minnesota Manufacturers Association.

Marvin Windows and Doors is featured in an article on MSNBC.com today that discusses the recent uptick in manufacturing in the United States. From the report:

Susan Marvin went into 2010 expecting it to be much like 2009: weak and difficult.

So when the president of the Minnesota manufacturing company Marvin Windows and Doors started to see orders pick up a bit in March, she was pleased but not overly confident.

“I would have to say there was a very tentative optimism,” she said.

So far, the growth in orders has continued. That’s allowed Marvin, whose company makes windows and patio doors for upscale customers, to increase hours for her manufacturing employees and reverse some of the pay cuts she instituted for her salaried employees. …

The article also reinforces the significance of the company’s no-layoffs strategy:

“Clearly we had more employees than we had work,” Marvin said.

But to Marvin, the cost to morale and productivity that would come from laying off workers was not worth the financial gain. Instead, she had employees spend time doing additional training and looking for ways to run the plant cheaper and more efficiently.

With orders up, Marvin said some of the company’s plants are back to 40-hour weeks, while others have gone up to 35 hours. Salaried employees also will soon see a 2 percent increase in their reduced pay, she said.

By avoiding layoffs, Marvin thinks her company was in a better competitive position to ramp up production when business began to improve.

Read the full story at MSNBC.com.

Marvin Windows and Doors is featured in an article on MSNBC.com today that discusses the recent uptick in manufacturing in the United States. From the report:

Susan Marvin went into 2010 expecting it to be much like 2009: weak and difficult.

So when the president of the Minnesota manufacturing company Marvin Windows and Doors started to see orders pick up a bit in March, she was pleased but not overly confident.

“I would have to say there was a very tentative optimism,” she said.

So far, the growth in orders has continued. That’s allowed Marvin, whose company makes windows and patio doors for upscale customers, to increase hours for her manufacturing employees and reverse some of the pay cuts she instituted for her salaried employees. …

The article also reinforces the significance of the company’s no-layoffs strategy:

“Clearly we had more employees than we had work,” Marvin said.

But to Marvin, the cost to morale and productivity that would come from laying off workers was not worth the financial gain. Instead, she had employees spend time doing additional training and looking for ways to run the plant cheaper and more efficiently.

With orders up, Marvin said some of the company’s plants are back to 40-hour weeks, while others have gone up to 35 hours. Salaried employees also will soon see a 2 percent increase in their reduced pay, she said.

By avoiding layoffs, Marvin thinks her company was in a better competitive position to ramp up production when business began to improve.

Read the full story at MSNBC.com.

Delivering higher performance and exceptional durability Hanson Building Materials selected as first distributor

WARROAD, Minn., May 17, 2010 – Marvin Windows and Doors is introducing the nation’s first siding system using Ultrex®, a patented pultruded fiberglass offering high performance characteristics, exceptional durability and long-lasting aesthetics.

APEX Siding System builds on more than 20 years of Marvin experience using Ultrex® in its highly successful Integrity and Infinity lines of windows and doors.

“Innovation is the key to growth in today’s business world,” said Susan Marvin, president of Marvin Windows and Doors. “APEX represents an innovative use of a proprietary technology that’s already been proven in tens of thousands of homes across the United States.

“For consumers, APEX offers a beautiful, durable finish that’s virtually maintenance-free. For builders, APEX offers a material that’s light, easy to work with and saves time and labor. We believe APEX offers unique benefits unmatched by any other siding product on the market today,” Marvin said.

Hanson Building Materials of Ramsey, Minn., has been chosen as the first APEX distributor. Working closely with builders, remodelers and architects, Hanson Building Materials will offer service and support to ensure that APEX exceeds the expectations of building professionals.

“We think that APEX will be a game-changer,” said Brad Hanson, president of Hanson Building Materials. “We invite builders, remodelers and architects to see this remarkable new product for themselves, and learn about the many features that make it such a desirable choice for their building projects.”

Among the unique features of APEX Siding System:

• A built-in water management system to reduce rot and mold
• A durable finish, four times thicker than paint, that’s integrated into the substrate
• Resists fading, chalking, warping and chipping
• Performs in extreme temperatures from 30 below zero to 350 above
• Three times lighter than fiber cement for ease in installation
• Integrated siding and trim options for a complete system

APEX Siding System will be available for both residential and commercial applications.

Delivering higher performance and exceptional durability Hanson Building Materials selected as first distributor

WARROAD, Minn., May 17, 2010 – Marvin Windows and Doors is introducing the nation’s first siding system using Ultrex®, a patented pultruded fiberglass offering high performance characteristics, exceptional durability and long-lasting aesthetics.

APEX Siding System builds on more than 20 years of Marvin experience using Ultrex® in its highly successful Integrity and Infinity lines of windows and doors.

“Innovation is the key to growth in today’s business world,” said Susan Marvin, president of Marvin Windows and Doors. “APEX represents an innovative use of a proprietary technology that’s already been proven in tens of thousands of homes across the United States.

“For consumers, APEX offers a beautiful, durable finish that’s virtually maintenance-free. For builders, APEX offers a material that’s light, easy to work with and saves time and labor. We believe APEX offers unique benefits unmatched by any other siding product on the market today,” Marvin said.

Hanson Building Materials of Ramsey, Minn., has been chosen as the first APEX distributor. Working closely with builders, remodelers and architects, Hanson Building Materials will offer service and support to ensure that APEX exceeds the expectations of building professionals.

“We think that APEX will be a game-changer,” said Brad Hanson, president of Hanson Building Materials. “We invite builders, remodelers and architects to see this remarkable new product for themselves, and learn about the many features that make it such a desirable choice for their building projects.”

Among the unique features of APEX Siding System:

• A built-in water management system to reduce rot and mold
• A durable finish, four times thicker than paint, that’s integrated into the substrate
• Resists fading, chalking, warping and chipping
• Performs in extreme temperatures from 30 below zero to 350 above
• Three times lighter than fiber cement for ease in installation
• Integrated siding and trim options for a complete system

APEX Siding System will be available for both residential and commercial applications.

Minnesota-based manufacturer recognized by Opus College of Business for four generations of business success, family leadership and community involvement

WARROAD, Minn., April 30, 2010 – Marvin Windows and Doors was honored yesterday as “Family Business of the Year” by the University of St. Thomas’s Opus College of Business.

The prestigious award, given by the college’s Center for Family Business of the Schulze School of Entrepreneurship, recognizes Marvin for 98 years and four generations of business success coupled with ongoing family leadership and community involvement.

“We’re honored and humbled to be recognized with this award,” said Jake Marvin, Chairman and CEO of The Marvin Companies. “In our modern economy, it’s more important than ever to have companies that recognize the timeless values of quality, integrity and commitment to families, employees and communities.

“As I look back, I realize that much of what we all learned about business, we learned from our father at the dinner table,” Marvin said. “The values he taught us every day are the same values we strive to uphold in running our business.”

Based in Warroad, Marvin employs more than 5,000 workers at seven factories in five states. The company is the world’s largest manufacturer of made-to-order wood and clad wood windows and doors.

Marvin was founded in 1912 by George Marvin, who opened a lumber and cedar business in Warroad. George’s son, the late Bill Marvin, led the company through a period of remarkable growth beginning in the 1950s, growing Marvin from a regional supplier into an internationally renowned maker of premium windows and doors.

Bill’s six sons and daughters picked up the leadership mantle. Ten members of the fourth Marvin generation are currently working within the Marvin family of companies and some are in leadership positions.

Ritch Sorenson, Opus Endowed Chair in Family Business and Academic Director of the Family Business Center, and Bill Monson, Director of the Family Business Center at the University of St. Thomas, say, “Our recognition reflects three areas of excellence: business, family, and community.  Marvin has a track record of innovation, financial performance, quality, customer loyalty, sensitivity to environmental issues, mutual respect and commitment to employees.  Multiple family members across the generations have worked in the business and fourth generation family members are being prepared to assume leadership.  The company reflects the culture, values and talents of its origins in Warroad, Minnesota, and represents the best qualities of family business.”

Since 1989, the Schulze School of Entrepreneurship has recognized outstanding individuals and companies that personify the spirit of entrepreneurship and demonstrate excellence and ethics in their pursuits.

Marvin’s “Family Business of the Year” award was given at the 2010 Annual Entrepreneurs Award Dinner in the Schulze Grand Atrium of the University of St. Thomas School of Law on the Minneapolis campus.