10-Q

UNITED STATES SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 10-Q

xQUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the quarterly period ended September 26, 2014

OR

¨ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the transition period from to                                     

Commission File No.  333-05978

EURAMAX HOLDINGS, INC.

(Exact Name of Registrant as Specified in Its Charter)

Delaware (State or other jurisdiction of incorporation or organization)	58-2502320 (I.R.S. Employer Identification Number)
303 Research Drive, Suite 400, Norcross, GA (Address of principal executive offices)	30092 (Zip Code)

Registrant’s Telephone Number, Including Area Code: (770) 449-7066

Indicate by check mark whether the Registrant: (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the Registrant was required to file such reports) and (2) has been subject to such filing requirements for the past 90 days. Yes ¨ No x*

* The registrant is a voluntary filer of reports required to be filed by certain companies under Sections 13 or 15(d) of the Securities Exchange Act of 1934 and has filed all reports that would have been required during the preceding 12 months, had it been subject to such filing requirements.

Indicate by check mark whether the Registrant has submitted electronically and posted on its corporate Website, if any, every Interactive Data File required to be submitted and posted pursuant to Rule 405 of Regulations S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit and post such files). Yes x No ¨

Indicate by check mark whether the Registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer or a smaller reporting company. See the definitions of “large accelerated filer,” “accelerated filer” and “smaller reporting company” in Rule 12b-2 of the Exchange Act.

Large accelerated filer o Accelerated filer o Non-accelerated filer x (Do not check if a smaller reporting company) Smaller reporting company o

Indicate by check mark whether the Registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). Yes ¨ No x

There were 195,502 shares of the registrant’s common stock, par value $1.00 per share, issued and outstanding as of November 7, 2014, none of which are publicly traded.

EURAMAX HOLDINGS, INC. AND SUBSIDIARIES

TABLE OF CONTENTS

PART I - FINANCIAL INFORMATION
Item 1.	Financial Statements (unaudited)	1
	Condensed Consolidated Balance Sheets as of September 26, 2014 and December 31, 2013	1
	Condensed Consolidated Statements of Operations for the Three and Nine Months Ended September 26, 2014 and September 27, 2013	2
	Condensed Consolidated Statements of Comprehensive Operations for the Three and Nine Months Ended September 26, 2014 and September 27, 2013	3
	Condensed Consolidated Statements of Cash Flows for the Nine Months Ended September 26, 2014 and September 27, 2013	4
	Notes to Condensed Consolidated Financial Statements	5
Item 2.	Management's Discussion and Analysis of Financial Condition and Results of Operations	27
Item 3.	Quantitative and Qualitative Disclosures About Market Risk	42
Item 4.	Controls and Procedures	42
PART II - OTHER INFORMATION
Item 1.	Legal Proceedings	43
Item 1A.	Risk Factors	43
Item 6.	Exhibits	43

Part I. Financial Information

Item 1. Financial Statements (unaudited)

EURAMAX HOLDINGS, INC. AND SUBSIDIARIES

CONDENSED CONSOLIDATED BALANCE SHEETS

(in thousands)

	September 26, 2014			December 31, 2013
ASSETS	(unaudited)
Current assets:
Cash and cash equivalents	$	3,235		$	8,977
Accounts receivable, less allowances of $1,541 and $2,235, respectively	111,167			73,996
Inventories, net	120,178			89,760
Income taxes receivable	542			982
Deferred income taxes	575			580
Other current assets	8,120			7,008
Total current assets	243,817			181,303
Property, plant and equipment, net	116,351			130,114
Goodwill	195,342			204,053
Customer relationships, net	29,942			40,631
Other intangible assets, net	6,599			7,073
Deferred income taxes	419			87
Other assets	6,464			8,712
Total assets	$	598,934		$	571,973
LIABILITIES AND SHAREHOLDERS’ DEFICIT
Current liabilities:
Accounts payable	$	94,686		$	57,262
Accrued expenses and other current liabilities	30,558			26,366
Accrued interest payable	21,770			9,020
Current portion of long-term debt	8,253			—
Deferred income taxes	559			605
Total current liabilities	155,826			93,253
Long-term debt	540,812			535,396
Deferred income taxes	18,159			18,980
Other liabilities	31,310			32,907
Total liabilities	746,107			680,536
Shareholders’ deficit:
Common stock	195			195
Additional paid-in capital	724,443			724,071
Accumulated loss	(882,544		)	(843,750		)
Accumulated other comprehensive income	10,733			10,921
Total shareholders’ deficit	(147,173		)	(108,563		)
Total liabilities and shareholders’ deficit	$	598,934		$	571,973

See the accompanying notes to these condensed consolidated financial statements.

1

EURAMAX HOLDINGS, INC. AND SUBSIDIARIES

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS

(in thousands)

(unaudited)

	Three months ended						Nine months ended
	September 26, 2014			September 27, 2013			September 26, 2014			September 27, 2013
Net sales	$	239,942		$	227,835		$	642,836		$	630,241
Costs and expenses:
Cost of goods sold (excluding depreciation and amortization)	202,160			188,792			542,208			528,423
Selling and general (excluding depreciation and amortization)	17,413			20,387			55,379			59,767
Depreciation and amortization	8,142			8,514			24,595			25,557
Other operating charges	1,051			1,455			4,357			5,355
Income from operations	11,176			8,687			16,297			11,139
Interest expense	(13,895		)	(13,805		)	(41,574		)	(41,257		)
Other (loss) income, net	(14,056		)	8,295			(14,376		)	4,061
(Loss) income before income taxes	(16,775		)	3,177			(39,653		)	(26,057		)
Benefit from income taxes	(369		)	(13,082		)	(859		)	(12,644		)
Net (loss) income	$	(16,406	)	$	16,259		$	(38,794	)	$	(13,413	)

See the accompanying notes to these condensed consolidated financial statements.

2

EURAMAX HOLDINGS, INC. AND SUBSIDIARIES

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE OPERATIONS

(in thousands)

(unaudited)

	Three months ended						Nine months ended
	September 26, 2014			September 27, 2013			September 26, 2014			September 27, 2013
Net loss	$	(16,406	)	$	16,259		$	(38,794	)	$	(13,413	)
Other comprehensive (loss) income:
Foreign currency translation adjustment	204			(89		)	(250		)	(431		)
Defined benefit pension plan adjustments	21			81			62			246
Total comprehensive (loss) income	$	(16,181	)	$	16,251		$	(38,982	)	$	(13,598	)

See the accompanying notes to these condensed consolidated financial statements.

3

EURAMAX HOLDINGS, INC. AND SUBSIDIARIES

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS

(in thousands)

(unaudited)

	Nine months ended
	September 26, 2014			September 27, 2013
Cash flows from operating activities:
Net loss	$	(38,794	)	$	(13,413	)
Reconciliation of net loss to net cash provided by operating activities:
Depreciation and amortization	24,595			25,557
Amortization of deferred financing fees	1,804			1,621
Amortization of debt discount	435			336
Share-based compensation	372			2,246
Provision for doubtful accounts	85			570
Foreign exchange loss (gain)	15,081			(4,478		)
(Gain) loss on sale or disposal of assets	(125		)	1,531
Deferred income taxes	(800		)	336
Changes in operating assets and liabilities, net of acquisitions
Accounts receivable	(39,555		)	(27,514		)
Inventories	(32,061		)	(17,188		)
Other current assets	(1,266		)	(1,393		)
Accounts payable and other current liabilities	56,472			26,150
Income taxes payable	279			(12,984		)
Other noncurrent assets and liabilities	(837		)	1,887
Net cash used in operating activities	(14,315		)	(16,736		)
Cash flows from investing activities:
Proceeds from sales of assets	777			2,288
Capital expenditures	(5,233		)	(7,355		)
Net cash used in investing activities	(4,456		)	(5,067		)
Cash flows from financing activities:
Net borrowings on ABL Credit Facility	4,981			19,514
Net borrowings on Dutch Revolving Credit Facility	8,253			1,836
Changes in cash overdrafts	215			—
Debt issuance costs	(88		)	(175		)
Net cash provided by financing activities	13,361			21,175
Effect of exchange rate changes on cash	(332		)	64
Net decrease in cash and cash equivalents	(5,742		)	(564		)
Cash and cash equivalents at beginning of period	8,977			10,024
Cash and cash equivalents at end of period	$	3,235		$	9,460

See the accompanying notes to these condensed consolidated financial statements.

4

EURAMAX HOLDINGS, INC. AND SUBSIDIARIES

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

(unaudited)

1. Basis of Presentation and Principles of Consolidation

Basis of Presentation

The accompanying unaudited condensed consolidated financial statements of Euramax Holdings, Inc. and its subsidiaries (the “Company”) have been prepared in accordance with accounting principles generally accepted in the United States for interim financial information and with the rules and regulations of the Securities and Exchange Commission (the “SEC”). Accordingly, they do not include all information and footnotes required by U.S. generally accepted accounting principles for complete financial statements. In the opinion of management, these statements include all adjustments considered necessary for the fair presentation of all interim periods reported herein. All adjustments are of a normal recurring nature unless otherwise disclosed.

The Company’s sales volumes have historically been higher in the second and third quarters due to the seasonal demand of the building products markets served. Accordingly, results for the three and nine months ended September 26, 2014 are not necessarily indicative of the results that may be expected for the full year. Management believes that the disclosures made are adequate for a fair presentation of the Company’s results of operations, financial position and cash flows. These condensed consolidated financial statements should be read in conjunction with the Company’s Annual Report on Form 10-K for the year ended December 31, 2013.

Assets and liabilities of non-U.S. subsidiaries are translated to U.S. Dollars at the rate of exchange in effect on the balance sheet date. Income and expenses are translated to U.S. Dollars at the weighted average rates of exchange prevailing during the period. Foreign currency gains and losses resulting from the remeasurement of inter-company amounts that are not of a long-term investment nature into local currencies and certain indebtedness of foreign subsidiaries denominated in U.S. dollars are included in other (loss) income, net. Other (loss) income, net includes losses of $14.8 million and income of $8.9 million for the three months ended September 26, 2014 and September 27, 2013, respectively. Other (loss) income, net includes losses of $15.1 million and income of $4.1 million for the nine months ended September 26, 2014 and September 27, 2013, respectively. Foreign currency gains and losses resulting from transactions in the ordinary course of business are recorded in selling and general expenses. Foreign currency transaction gains and losses recorded in selling and general expenses were not significant for any period presented.

Principles of Consolidation

The accompanying condensed consolidated financial statements include the Company’s accounts and the accounts of its wholly-owned subsidiaries. All significant intercompany accounts and transactions have been eliminated in consolidation. Certain prior period amounts have been reclassified to conform to current period presentation. Each of our interim reporting periods, other than the fourth interim reporting period, ends on the Friday closest to the last day of the corresponding quarterly calendar period. The third quarter of 2014 and 2013 ended on September 26 and September 27, respectively. Our fourth interim reporting period and our fiscal year end on December 31 regardless of the day of the week on which it falls.

Recent Accounting Pronouncements

In May 2014, the FASB issued new revenue recognition guidance, which supersedes most current revenue recognition guidance, including industry-specific guidance, and requires entities to recognize revenue in a way that depicts the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. The new standard is effective for fiscal years, and interim periods within those years, beginning after December 15, 2016, and is to be applied retrospectively, with early application not permitted. The Company is currently assessing the impact of implementing this guidance on the Company's financial position, results of operations, and cash flows.

5

2. Inventories

Inventories were comprised of:

	September 26, 2014		December 31, 2013
	(in thousands)
Aluminum and steel coil	$	80,783	$	58,153
Raw materials	17,782		15,291
Work in process	3,283		1,936
Finished products	18,330		14,380
Total inventories, net	$	120,178	$	89,760

The Company has disclosed aluminum and steel coil inventory separately, as it represents inventory that can be classified as raw material, work in process or finished product. Aluminum and steel coil includes both painted and bare coil. Inventories are net of related reserves totaling $3.1 million and $2.4 million as of September 26, 2014 and December 31, 2013, respectively.

3. Indebtedness

Indebtedness consisted of the following:

	September 26, 2014		December 31, 2013
	(in thousands)
Senior Secured Notes (9.50%)	$	375,000	$	375,000
Senior Unsecured Loan Facility (12.25%)	124,075		123,640
ABL Credit Facility	41,737		36,756
Dutch Revolving Credit Facility	8,253		—
Total debt	549,065		535,396
Less: current portion	8,253		—
Total long term debt	$	540,812	$	535,396

Senior Secured Notes

The Senior Secured Notes (the "Notes") consist of an aggregate principal amount of $375 million, which were issued pursuant to an indenture (the "Indenture"), dated March 18, 2011, among Euramax International, Inc. ("Euramax International"), Euramax Holdings, Inc. ("Euramax Holdings"), and certain of its domestic subsidiaries as guarantors, and Wells Fargo Bank, National Association, the Trustee.The Notes are fully and unconditionally guaranteed, jointly and severally, on a senior secured basis by Euramax Holdings, Euramax International, and Amerimax Richmond Company, a 100% owned domestic subsidiary of Euramax International. The Notes bear interest at 9.50% per year and mature on April 1, 2016, unless earlier redeemed or repurchased by Euramax International. Interest is payable semi-annually on April 1 and October 1 of each year.

The Notes are secured by a first priority security interest in (i) substantially all of the assets of Euramax International and the guarantors (other than inventory and accounts receivable and related assets, which assets secure the ABL Credit Facility on a first priority basis) and (ii) all of Euramax International's capital stock and the capital stock of each material domestic restricted subsidiary owned by Euramax International or a guarantor and 65% of the voting capital stock and 100% of any nonvoting capital stock of foreign restricted subsidiaries directly owned by the Company or a guarantor, and a second priority security interest in the inventory, receivables and related assets.

6

The Notes may be redeemed at the option of Euramax International, in whole or in part, under the conditions specified in the Indenture, at the following redemption prices plus accrued and unpaid interest to the redemption date if redeemed during the twelve-month period beginning on April 1 of the years indicated:

Year	Percentage
2013	107.125	%
2014	104.750	%
2015 and thereafter	100.000	%

The Indenture contains restrictive covenants that limit, among other things, the ability of Euramax International and certain of its subsidiaries to incur additional indebtedness, pay dividends and make certain distributions, make other restricted payments, make investments, incur liens, consolidate, merge, sell or otherwise dispose of all or substantially all of its assets and enter into certain transactions with affiliates, in each case, subject to exclusions, and other customary covenants. These limitations also limit Euramax International's ability to transfer cash or assets to Euramax Holdings, whether by dividend, loan or otherwise. The Indenture also contains customary events of default. If Euramax International undergoes a change of control (as defined in the Indenture), Euramax International will be required to make an offer to repurchase the Notes at 101% of the principal amount of the Notes redeemed plus accrued and unpaid interest, if any, to the date of redemption.

Senior Unsecured Loan Facility

On March 3, 2011, Euramax Holdings, Euramax International, and certain of its domestic subsidiaries entered into a credit and guaranty agreement for a senior unsecured loan facility (the "Senior Unsecured Loan Facility") in the aggregate principal amount of $125 million. The Senior Unsecured Loan Facility was issued at 98% of par on March 18, 2011 and matures on October 1, 2016.The difference between the consideration received and the aggregate face amount ($0.9 million) is being amortized and recorded in interest expense using the effective interest rate method over the term. The Senior Unsecured Loan Facility bears interest at 12.25% per year in the event no election is made to pay interest in kind (PIK), and 14.25% (7.875% cash pay and 6.375% PIK) per annum in the event a PIK election is made. Euramax International may make a PIK election for up to six quarters during the term of the Senior Unsecured Loan Facility. The interest rate on outstanding borrowings at September 26, 2014 was 12.25%, as Euramax International has not made a PIK election.

Euramax International may prepay outstanding amounts under the Senior Unsecured Loan Facility, in whole or in part, at the prices (expressed as percentages of the loans) set forth below:

Prepayment Date	Percentage
On or after the second anniversary of the closing but prior to the third anniversary thereof	103	%
On or after the third anniversary of the closing but prior to the fourth anniversary thereof	102	%
On or after the fourth anniversary of the closing	100	%

Upon a change of control, Euramax International may be required to prepay all or a portion of the Senior Unsecured Loan Facility at a price equal to 101% of the principal amount plus accrued and unpaid interest.All obligations under the Senior Unsecured Loan Facility are unconditionally guaranteed by Euramax Holdings, Euramax International, and substantially all of Euramax International's existing and future direct and indirect 100% owned domestic material restricted subsidiaries.

The Senior Unsecured Loan Facility contains restrictive covenants that limit, among other things, the ability of Euramax International and certain of its subsidiaries to incur additional indebtedness, pay dividends and make certain distributions, make other restricted payments, make investments, incur liens, consolidate, merge, sell or otherwise dispose of all or substantially all of its assets and enter into certain transactions with affiliates, in each case, subject to exclusions, and other customary covenants.

7

The Senior Unsecured Loan Facility contains certain customary representations and warranties, affirmative covenants and events of default, including among other things, payment defaults, covenant defaults, cross‑defaults to certain indebtedness, certain events of bankruptcy, material judgments, and failure of any guaranty supporting the Senior Unsecured Loan Facility to be in force and effect in any material respect. If such an event of default occurs, the administrative agent would be entitled to take various actions, including the acceleration of amounts due under the Senior Unsecured Loan Facility and all actions permitted to be taken by an unsecured creditor.

ABL Credit Facility

On March 18, 2011, Euramax Holdings, Euramax International, and certain of its domestic subsidiaries, entered into the ABL Credit Facility with Regions Bank, as Collateral and Administrative Agent, Wells Fargo Capital Finance, LLC, as Co-Collateral Agent, and Regions Business Capital, as Sole Lead Arranger and Bookrunner. The ABL Credit Facility provides for revolving credit financing of up to $70 million, subject to borrowing base availability and matures on March 1, 2018. However, if the Agent has not received on or before December 31, 2015, evidence satisfactory to Agent that the scheduled maturity dates of the indebtedness arising under the Indenture and the Senior Unsecured Loan Facility, in each case, have been extended to a date that is 90 or more days following March 1, 2018, then the maturity date for the ABL Credit facility shall be January 1, 2016. In March 2014, Wells Fargo Capital Finance, LLC ceased to be Co-Collateral Agent and a Lender under the ABL Credit Facility. At September 26, 2014, $28.3 million was available to be drawn on the ABL Credit Facility.

On March 21, 2014 and May 8, 2014, the ABL Credit Facility was amended to, among other items, (i) reduce the applicable margin rate for LIBOR borrowings from a range of 2.00% to 2.75% to a range of 1.75% to 2.25% and reduce the applicable margin rate for Base Rate borrowings from a range of 1.00% to 1.75% to a range of 1.00% to 1.25%, in each case, based on average excess availability rather than corporate credit ratings of the Company, (ii) reduce the minimum excess availability threshold to $1.0 million, (iii) reduce the fixed charge coverage ratio from 1.15 to 1.00, (iv) suspend the testing of the fixed charge coverage ratio (A) during fiscal year 2014, unless a Seasonal Overadvance A is then in effect, (B) at all other times including during fiscal year 2014 during the occurrence of a Seasonal Overadvance B or (C) during the occurrence of a Seasonal Overadvance C, (v) suspend the testing of the minimum consolidated EBITDA test except (A) during fiscal year 2014 if a Seasonal Overadvance A is then in effect, (B) at any time during the life of the ABL Credit Facility, during the occurrence of a Seasonal Overadvance B or (C) at any time during the life of the ABL Credit Facility during the occurrence of a Seasonal Overadvance C, and (vi) provide for the three mutually exclusive overadvance facilities as described below.

"Seasonal Overadvance A", in the amount of $15.0 million, is available to the Company from February 1 of each year through May 31 of each such year, subject to the Company demonstrating compliance with the fixed charge coverage ratio of 1.00:1.00, payment of a fee in the amount of 0.20% of the amount of such facility (the "Seasonal Overadvance Fee") and other customary conditions.

"Seasonal Overadvance B", in the amount of $9.0 million, is available to the Company from February 1 of each year through November 30 of each such year, subject to the Company demonstrating compliance with a U.S. fixed charge coverage ratio of 1.00:1.00, payment of the Seasonal Overadvance Fee (except to the extent already paid during such calendar year), maintenance of a U.S. fixed charge coverage ratio of 1.00:1.00 and other customary conditions.

"Seasonal Overadvance C", in the amount of the lesser of (i) $6.0 million and (ii) the sum of (a) 10% of the first component of the borrowing base and (b) 10% of the second component of the borrowing base, is available to the Company from February 1 of each year through August 22 of each such year, subject to the payment of the Seasonal Overadvance Fee (except to the extent already paid during such calendar year), maintenance of a minimum consolidated EBITDA over the trailing twelve months of $52.0 million ($50.0 million for fiscal 2014) and other customary conditions.

8

Borrowings under the ABL Credit Facility bear interest at a rate per annum equal to either (a) LIBOR plus an applicable margin or (b) a base rate determined by reference to the highest of (1) the prime commercial lending rate published by Regions Bank as its “prime rate” for commercial loans, (2) the federal funds effective rate plus 0.50% and (3) the one-month LIBOR plus 1.00%, plus an applicable margin. The applicable margin is dependent upon the type of borrowings Euramax International has made under the ABL Credit Facility. At September 26, 2014, the applicable margins are subject to Euramax International’s Average Excess Availability Percentage for the most recently ended fiscal quarter and range from 1.75% to 2.25% for LIBOR borrowings and 1.00% to 1.25% for Base Rate borrowings. The weighted average interest rate at September 26, 2014, including the applicable margin payable on outstanding borrowings under the ABL Credit Facility, was 2.41%. The ABL Credit Facility requires Euramax International to pay a commitment fee ranging from 0.375% to 0.5%, based on the unutilized commitments. Euramax International is also required to pay customary letter of credit fees, including, without limitation, a letter of credit fee equal to the applicable margin on revolving credit LIBOR loans and fronting fees.

All obligations under the ABL Credit Facility are unconditionally guaranteed by Euramax Holdings, Euramax International, and Amerimax Richmond Company, a 100% owned domestic subsidiary of Euramax International, and any future direct and indirect 100% owned domestic restricted subsidiaries which are not borrowers. All obligations under the ABL Credit Facility are secured, subject to certain exceptions, by a first‑priority security interest in Euramax International’s and the Guarantors’ inventory and accounts receivable and related assets, referred to as the ABL Collateral, and a junior‑priority security interest in (i) substantially all of Euramax International’s and the Guarantors’ assets (other than inventory and accounts receivable and related assets, which assets secure the ABL Credit Facility on a first priority basis) and (ii) all of Euramax International’s capital stock and the capital stock of each material domestic restricted subsidiary owned by Euramax International or a Guarantor and 65% of the voting capital stock and 100% of any non-voting capital stock of foreign restricted subsidiaries directly owned by Euramax International or a Guarantor, which we refer to collectively as the Notes Collateral.

The ABL Credit Facility contains affirmative and negative covenants customary for this type of financing, including, but not limited to certain financial covenants in the event excess availability is less than 12.5% of the lesser of the aggregate amount of commitments outstanding at such time and the borrowing base. As of September 26, 2014, excess availability exceeded 12.5% of the borrowing base; therefore, Euramax International was not required to meet the Minimum Consolidated Adjusted EBITDA or Minimum Consolidated Fixed Charge Coverage Ratio. Additionally, restrictive covenants limit the ability of Euramax International and certain of its subsidiaries to incur liens, incur, assume or permit to exist additional indebtedness, guarantees and other contingent obligations, consolidate, merge or sell all or substantially all of their assets, pay dividends or make other distributions, make certain loans and investments, amend or otherwise alter the terms of documents related to certain of their indebtedness, enter into transactions with affiliates and prepay certain indebtedness, in each case, subject to exclusions, and other customary covenants.

Dutch Revolving Credit Facility

In February 2012, the Company's 100% owned subsidiary Euramax Coated Products, BV entered into a revolving credit facility with Rabobank Roermond (the "Dutch Revolving Credit Facility"). The Dutch Revolving Credit Facility provides revolving credit financing of up to EUR 15 million and matures on April 1, 2016. Borrowings under the Dutch Revolving Credit Facility bear interest at a rate per annum which is the aggregate of the average one month Euribor rate over a calendar month plus a margin of 2% and requires payment of a commitment fee of 0.35% per annum on the nominal amount of the credit facility. The weighted average interest rate at September 26, 2014, including the margin payable on outstanding borrowings under the Dutch Revolving Credit Facility, was 2.32%. All obligations under the Dutch Revolving Credit Facility are secured by a mortgage on the real estate of Euramax Coated Products, BV and a pledge on present and future machinery and present and future accounts receivable balances of Euramax Coated Products, BV. At September 26, 2014, $10.8 million (EUR 8.5 million) was available to be drawn on the Dutch Revolving Credit Facility.

The Dutch Revolving Credit Facility contains financial and non-financial covenants customary for this type of financing. Financial covenants include, but are not limited to, a minimum annual EBITDA target and a minimum amount of risk-bearing capital for Euramax Coated Products, BV, both measured at the Company's fiscal year-end. The Dutch Revolving Credit Facility also contains a clause limiting further indebtedness. As of September 26, 2014, Euramax Coated Products, BV is in compliance with all covenants.

9

4. Commitments and Contingencies

Raw Material Commitments

The Company’s primary raw materials are aluminum and steel coil. Because changes in aluminum and steel prices are generally passed through to customers, increases or decreases in aluminum and steel prices generally cause corresponding increases and decreases in reported net sales, causing fluctuations in reported revenues that are unrelated to the level of business activity. However, if the Company is unable to pass through aluminum and steel price increases to customers in the future, its business and results of operations could be materially adversely affected. Although the Company believes there is sufficient supply in the marketplace to competitively source all of its aluminum and steel needs without reliance on any particular supplier, any major disruption in the supply and/or price of aluminum and steel could have a material adverse effect on the Company’s business and financial condition.

To ensure a margin on specific customer orders, the Company may commit to purchase aluminum ingot or coil at a fixed market price for future delivery. These contracts are for normal purchases and sales, and therefore, are not required to be accounted for as derivatives.

Litigation

The Company is currently party to legal proceedings that have arisen in the ordinary course of business. The Company has and will continue to vigorously defend itself in these matters. It is the opinion of the Company’s management, based upon information available at this time, that the expected outcome of all matters to which the Company is currently a party would not reasonably be expected to have a material adverse effect on the consolidated financial position, results of operations or cash flows of the Company.

Environmental Matters

The Company’s operations are subject to U.S., Canadian, and European federal, state, and local environmental laws and regulations, including those concerning the management of pollution and hazardous substances.

In connection with the acquisition of the Company from Alumax Inc. (which was acquired by Aluminum Company of America in May 1998, and hereafter referred to as Alumax) on September 25, 1996, the Company was indemnified by Alumax for substantially all of its costs, if any, related to specifically identified environmental matters arising prior to the closing date of the acquisition during the period of time it was owned directly or indirectly by Alumax. Such indemnification includes costs that may ultimately be incurred to contribute to the remediation of eleven specified existing National Priorities List (NPL) sites for which the Company had been named a potentially responsible party under the federal Comprehensive Environmental Response, Compensation, and Liability Act (CERCLA) as of the closing date of the acquisition from Alumax, as well as certain potential costs for nine sites to which the Company may have sent waste for disposal. The Company does not believe that it has any significant probable liability for environmental claims. Further, the Company believes it to be unlikely that the Company would be required to bear environmental costs in excess of its pro rata share of such costs as a potentially responsible party at any site. Any receivable for recoveries under the indemnification would be recorded separately from the corresponding liability when the environmental claim and related recovery is determined to be probable. In addition, the Company establishes reserves for remedial measures required from time to time at its facilities. Management believes that the reasonably probable outcomes of these matters will not be material. The Company’s reserves, expenditures, and expenses for all environmental exposures were not significant as of any of the dates or for any of the periods presented.

Product Warranties

The Company provides warranties on certain products. The warranty periods differ depending on the product, but generally range from one year to limited lifetime warranties. The Company provides for warranties based on historical experience and expectations of future occurrence. Changes in the product warranty accrual are summarized as follows:

10

	Three months ended						Nine months ended
	September 26, 2014			September 27, 2013			September 26, 2014			September 27, 2013
	(in thousands)
Balance, beginning of period	$	4,946		$	5,047		$	5,326		5,098
Payments made or service provided	(754		)	(734		)	(2,309		)	(2,565		)
Warranty expense	692			997			1,867			2,838
Foreign currency translation	(88		)	93			(88		)	32
Balance, end of period	$	4,796		$	5,403		$	4,796		$	5,403

5. Income Taxes

The benefit from income taxes for 2014 and 2013 is computed at the effective rate expected to be applicable in each respective full year using the statutory rates on a country by country basis, adjusted for changes in valuation allowances relating to the Company’s net operating loss and capital loss carryforwards and changes in tax uncertainties. The effective rates for the three month periods ended September 26, 2014 and September 27, 2013 were a benefit of 2.2% and 411.8%, respectively.

The effective rate for the three months ended September 26, 2014 differed from the U.S. statutory rate primarily due to state income taxes, lower tax rates of our foreign operations compared to the U.S. federal rates, and recognition of valuation allowances related to net losses in the UK and in U.S. federal and state jurisdictions.

The effective rate for the three months ended September 27, 2013 differed from the U.S. statutory rate primarily due to the reversal of an uncertain tax position as a result of the expiration of statute of limitations. During the three months ended September 27, 2013, the statute of limitations expired for an uncertain tax position taken in a prior year. As a result, the Company recognized $9.0 million in previously unrecognized tax benefit and an additional $3.4 million related to the reversal of accrued interest and penalties associated with the position during the quarter. Other factors impacting the effective rate include state income taxes, lower tax rates of our foreign operations as compared to the U.S. federal rates, and recognition of valuation allowances related to current year losses in the UK and in U.S. federal and state jurisdictions.

The effective tax rates for the nine month periods ended September 26, 2014 and September 27, 2013 were a benefit of 2.2% and 48.5%, respectively.

The effective rate for the nine months ended September 26, 2014 differed from the U.S. statutory rate primarily due to state income taxes, lower tax rates of our foreign operations compared to the U.S. federal rates, and recognition of valuation allowances related to net losses in the UK and in U.S. federal and state jurisdictions.

The effective rate for the nine months ended September 27, 2013 differed from the U.S. statutory rate due to the reversal of various uncertain tax positions, primarily relating to the expiration of certain statutes of limitations. During the nine months months ended September 27, 2013, the statute of limitations expired for an uncertain tax position taken in a prior year. As a result, the Company recognized $9.0 million in previously unrecognized tax benefit and an additional $3.4 million related to the reversal of accrued interest and penalties associated with the position. Other factors impacting the effective rate include state income taxes, lower tax rates of our foreign operations as compared to the U.S. federal rates, and valuation allowances related to current year losses in the UK and in U.S. federal and state jurisdictions.

11

6. Accumulated Other Comprehensive Income

Changes in accumulated other comprehensive income (loss) by component for the nine month period ended September 26, 2014 were as follows:

	Foreign Currency Translation Adjustments			Defined Benefit Pension Plan Adjustments			Total
	(in thousands)
Balance, beginning of period	$	19,281		$	(8,360	)	$	10,921
Other comprehensive (loss) income before reclassifications	(250		)	—			(250		)
Amounts reclassified from accumulated other comprehensive income (loss)	—			62			62
Net other comprehensive (loss) income	(250		)	62			(188		)
Balance, end of period	$	19,031		$	(8,298	)	$	10,733

Amounts reclassified from the defined benefit pension plan adjustments component of accumulated other comprehensive income (loss) were recorded in selling and general expenses within the condensed consolidated statement of operations. There were no net tax effects related to the reclassification as a result of the full valuation allowances in the U.S. and UK in the current year. The accumulated tax effect related to the defined benefit pension plan adjustments component of accumulated other comprehensive income (loss) was a provision of $0.3 million as of September 26, 2014 and December 31, 2013. There are no tax impacts related to the foreign currency translation adjustment component of accumulated other comprehensive income (loss) as the earnings of subsidiaries are considered to be permanently invested.

7. Employee Benefit Plans

Retirement Plans

The Company maintains a non-contributory defined benefit pension plan covering substantially all U.S. hourly employees (the "U.S. Plan"). In addition, the employees at Euramax Coated Products Limited and Ellbee Limited participate in a single employer pension plan (the "UK Plan"). The measurement date for the U.S. and UK plans is the last day of the fiscal year. The Company curtailed the accrual of participant benefits provided under the UK Plan effective March 31, 2009. This curtailment did not affect the timing for the payment of benefits earned under the UK Plan through the curtailment date. In January 2010, the Company's board of directors approved a motion to freeze future benefit accruals under the U.S. Plan. The impact on the Company's projected benefit obligation was not significant. Components of net periodic pension cost for the Company’s defined and multiemployer pension plans were as follows:

	Three months ended												Nine months ended
	September 26, 2014						September 27, 2013						September 26, 2014						September 27, 2013
	U.S. Plan			UK Plan			U.S. Plan			UK Plan			U.S. Plan			UK Plan			U.S. Plan			UK Plan
	(in thousands)
Service cost	$	14		$	—		$	16		$	—		$	42		$	—		$	48		$	—
Interest cost	141			559			130			527			421			1,673			390			1,582
Expected return on assets	(185		)	(472		)	(156		)	(411		)	(557		)	(1,412		)	(468		)	(1,233		)
Recognized actuarial net loss	3			18			73			8			7			55			217			29
Total defined benefit net periodic pension cost	(27		)	105			63			124			(87		)	316			187			378
Multiemployer benefit expense	324			—			313			—			893			—			860			—
Net periodic pension cost	$	297		$	105		$	376		$	124		$	806		$	316		$	1,047		$	378

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8. Fair Value Measurements

Recurring Fair Value Measurements

In accordance with accounting principles generally accepted in the U.S., certain assets and liabilities are required to be recorded at fair value on a recurring basis. For the Company, the only assets and liabilities that are adjusted to fair value on a recurring basis are derivative financial instruments.

Derivative Financial Instruments

The Company is directly and indirectly affected by changes in certain market conditions. These changes in market conditions may adversely impact the Company's financial performance and are referred to as "market risks." The Company, when deemed appropriate, uses derivatives as a risk management tool to mitigate the potential impact of certain market risks. The primary market risk managed by the Company through the use of derivative instruments is foreign currency exchange rate risk related to intercompany interest payments. The Company does not enter into derivative contracts for trading purposes.

The Company has entered into forward contracts to buy or sell a quantity of a currency at a predetermined future date, and at a predetermined rate or price to mitigate uncertainty and volatility, and to cover underlying exposures to certain payments in currencies other than the functional currency. The Company has not designated these contracts for hedge accounting treatment and, therefore, the gains and losses on these contracts are recorded in other income (loss), net in the condensed consolidated statement of operations. For the three months ended September 26, 2014 and September 27, 2013, the Company recognized gains of $0.7 million and losses of $0.3 million, respectively, related to these forward contracts. For the nine months ended September 26, 2014 and September 27, 2013, the Company recognized gains of $0.7 million and losses of $0.2 million, respectively, related to these forward contracts.

Derivatives are carried at fair value in the condensed consolidated balance sheet in the line item other current assets or accrued liabilities, as applicable. As of September 26, 2014 and December 31, 2013, the fair value of outstanding derivatives totaled assets of $0.5 million and liabilities of $0.2 million, respectively. The fair value of foreign exchange contracts is determined using quoted prices for similar contracts obtained from financial institutions and is classified as a Level 2 measurement in the fair value hierarchy.

Nonrecurring Fair Value Measurements

In addition to assets and liabilities that are recorded at fair value on a recurring basis, the Company records assets and liabilities at fair value on a nonrecurring basis as required by accounting principles generally accepted in the U.S. Generally, adjustments made to record assets at fair value on a nonrecurring basis are the result of impairment charges.

The Company did not record any impairment charges related to assets measured at fair value on a nonrecurring basis during the three or nine months ended September 26, 2014. During the first quarter of 2013, the Company recorded losses of approximately $1.6 million in other operating charges related to the reclassification of land and buildings to assets held for sale. These losses, incurred as part of the Company's restructuring activities in the European Engineered Products segment, represented the difference between the carrying value prior to the reclassification and the fair value. The fair value was determined based on the selling price less costs incurred to sell and was classified as Level 1 in the fair value hierarchy. The assets were sold during the second quarter of 2013 and no additional losses were recorded from the sale of the assets.

Other Fair Value Disclosures

The carrying amounts of cash and cash equivalents, receivables, accounts payable and accrued expenses, and loans and notes payable approximate their fair values because of the relatively short-term maturities of these instruments.

The fair value of our long-term debt is estimated using Level 2 inputs based on dealer quoted prices for our debt instruments based on recent transactions obtained from various sources. As of September 26, 2014, the carrying amount and fair value of our Senior Secured Notes, were $375.0 million and $363.8 million, respectively. As of December 31, 2013, the carrying amount and fair value of our Senior Secured Notes, were $375.0 million and $375.0 million, respectively.

13

9. Other Operating Charges

Other operating charges incurred by operating segment were as follows:

	Three months ended				Nine months ended
	September 26, 2014		September 27, 2013		September 26, 2014		September 27, 2013
	(in thousands)
U.S. Residential Products	$	83	$	57	$	591	$	214
U.S. Commercial Products	177		69		646		364
European Roll Coated Aluminum	26		305		26		495
European Engineered Products	148		995		1,218		4,039
Other non-allocated	617		29		1,876		243
Total other operating charges	$	1,051	$	1,455	$	4,357	$	5,355

Other operating charges are comprised of restructuring initiatives, facility closures, and other operational initiatives. In the second quarter of 2014, after an ongoing review of its North American operations, the Company took steps to rationalize its workforce and to invest in select value-creating officer roles. These actions led to the elimination of certain non-essential salaried positions in the Company's North America business segments and at its Corporate Headquarters in Norcross, GA. The Company believes the elimination of certain non-essential salaried positions in the Company's North American business will result in a more competitive platform that provides both meaningful operational and cost benefits. Total severance and related costs incurred in the nine months ended September 26, 2014 related to the work force rationalization totaled approximately $1.0 million and are recorded within other operating charges in the Company’s condensed consolidated statement of operations. Total severance on a segment basis is disclosed in the following paragraphs.

For the three months ended September 26, 2014, other operating charges of $1.1 million were primarily comprised of severance costs and legal and professional fees. Other non-allocated charges of $0.6 million were primarily related to professional fees for consulting services during the executive transition period. The remaining $0.5 million was related to severance and relocation costs for various organizational initiatives in the U.S. and Europe to reduce operating costs and improve efficiencies.

For the three months ended September 27, 2013, other operating charges of $1.5 million were primarily comprised of ongoing restructuring and relocation initiatives in the European Engineered Products segment including approximately $0.8 million of severance and relocation costs associated with the relocation from multiple plant facilities in the UK into one operating location and $0.2 million of severance costs for various social programs in France. The remaining $0.5 million of other operating costs in the third quarter of 2013 were comprised primarily of severance and relocation costs related to various organizational initiatives in the European Roll Coated Aluminum segment and in the U.S. to reduce operating costs and improve efficiencies.

For the nine months ended September 26, 2014, other operating charges of $4.4 million were primarily comprised of severance costs and legal and professional fees. Other non-allocated charges of $1.9 million were made up of severance and professional fees for consulting services during the executive transition period. Ongoing restructuring initiatives in the European Engineered Products segment totaled $1.3 million, including approximately $0.8 million of severance costs for various social programs in France and $0.5 million of severance in the UK. The remaining other operating charges in the first nine months of 2014 were comprised of $1.2 million in severance and relocation costs in the U.S. primarily related to the workforce rationalization and organizational initiatives to reduce operating costs and improve efficiencies. Total costs related to the workforce rationalization for the nine months ended September 26, 2014 include $0.4 million in the Residential Products segment, $0.4 million in the Commercial Products segment, and $0.2 million in other non-allocated charges for corporate employees.

14

For the nine months ended September 27, 2013, other operating charges of $5.4 million were primarily comprised of restructuring and relocation initiatives in the European Engineered Products segment, including a $1.6 million loss related to the sale of land and buildings, $2.0 million of severance, relocation, and other restructuring charges related to the relocation from multiple plant facilities in the UK into one operating location, and $0.5 million of severance costs for various social programs in France. The remaining other operating charges in the first nine months of 2013 were comprised of $1.3 million in severance and relocation costs in both the U.S. and Europe related to various organizational initiatives to reduce operating costs and improve efficiencies.

10. Segment Information

The Company manages its business and serves its customers through reportable segments differentiated by product type, end market, and geography. The Company's four reportable segments are described below:

U.S. Residential Products—The U.S. Residential Products segment utilizes aluminum, steel, copper and vinyl to produce residential roof drainage products, including preformed gutters, downspouts, elbows, soffit, drip edge, fascia, flashing, snow guards and related accessories. These products are used primarily for the repair, replacement or enhancement of residential roof drainage systems. The Company sells these products to home improvement retailers, lumber yards, distributors and contractors from manufacturing and distribution facilities throughout North America. The Company also produces specialty made-to-order vinyl replacement windows and aluminum patio and awning components sold primarily to home improvement contractors in the western U.S.

U.S. Commercial Products—The U.S. Commercial Products segment utilizes various materials including steel coil, aluminum coil and fiberglass to create various products with commercial applications, including roofing and siding panels, ridge caps, flashing, trim, soffit and other accessories as well as sidewall components, siding and other exterior components for the towable RV, cargo and manufactured housing markets. The Company sells these products to builders, contractors, lumber yards, home improvement retailers, OEMs, and RV manufacturers from manufacturing and distribution facilities located throughout the U.S. These products are used in the construction of a wide variety of small scale commercial, agricultural and industrial building types on either wood or metal frames, manufactured homes, and towable RVs.

European Roll Coated Aluminum—The European Roll Coated Aluminum segment uses a roll coating process to apply paint to bare aluminum coil and, to a lesser extent, bare steel coil in order to produce specialty coated coil, which the Company also processes into specialty coated sheets and panels. The Company sells these products to building panel manufacturers, contractors and UK “holiday home,” RV and transportation OEMs throughout Europe and in parts of Asia. The Company’s customers use its specialty coated metal products to manufacture, among other things, RV sidewalls, commercial roofing panels, interior ceiling panels, and liner panels for shipping containers. The Company produces and distributes these roll coated products from facilities located in the Netherlands and the UK.

European Engineered Products—The European Engineered Products segment utilizes aluminum and vinyl extrusions to produce residential windows, doors and shower enclosures. These products are sold to home improvement retailers, distributors and factory‑built “holiday home” builders in the UK. The Company also produces windows used in the operator compartments of heavy equipment, components sold to suppliers of automotive OEMs in Western Europe and RV doors. The Company produces and distributes these engineered products from facilities in France and the UK and has developed extensive in-house manufacturing capabilities, including powder coating, glass cutting, anodizing and glass toughening.

The Company evaluates the performance of its segments and allocates resources to them based primarily on segment income (loss) from operations. Expenses, income and assets that are not segment specific relate to the holding company and business activities conducted for the overall benefit of the Company, and accordingly, are not attributable to the Company’s segments.

15

The following table presents information about reported segments for the three months ended September 26, 2014:

	U.S. Residential Products		U.S. Commercial Products		European Roll Coated Aluminum		European Engineered Products		Other Non- Allocated			Eliminations			Consolidated
Three months ended September 26, 2014	(in thousands)
Net sales:
Third party	$	94,126	$	85,633	$	44,710	$	15,473	$	—		$	—		$	239,942
Intersegment	218		40		176		—		—			(434		)	—
Total net sales	$	94,344	$	85,673	$	44,886	$	15,473	$	—		$	(434	)	$	239,942
Income (loss) from operations	$	9,660	$	2,213	$	1,979	$	325	$	(3,001	)	$	—		$	11,176
Depreciation and amortization	$	2,790	$	2,707	$	2,299	$	398	$	(52	)	$	—		$	8,142
Capital expenditures	$	301	$	641	$	415	$	248	$	667		$	—		$	2,272

The following table presents information about reported segments for the three months ended September 27, 2013:

	U.S. Residential Products		U.S. Commercial Products		European Roll Coated Aluminum		European Engineered Products			Other Non- Allocated			Eliminations			Consolidated
Three months ended September 27, 2013	(in thousands)
Net sales:
Third party	$	87,518	$	80,717	$	45,660	$	13,940		$	—		$	—		$	227,835
Intersegment	188		58		87		—			—			(333		)	—
Total net sales	$	87,706	$	80,775	$	45,747	$	13,940		$	—		$	(333	)	$	227,835
Income (loss) from operations	$	9,281	$	2,251	$	1,782	$	(1,612	)	$	(3,015	)	$	—		$	8,687
Depreciation and amortization	$	2,891	$	2,628	$	2,435	$	401		$	159		$	—		$	8,514
Capital expenditures	$	873	$	361	$	717	$	180		$	266		$	—		$	2,397

The following table presents information about reported segments for the nine months ended September 26, 2014:

	U.S. Residential Products		U.S. Commercial Products			European Roll Coated Aluminum		European Engineered Products			Other Non- Allocated			Eliminations			Consolidated
Nine months ended September 26, 2014	(in thousands)
Net sales:
Third party	$	230,235	$	216,699		$	146,258	$	49,644		$	—		$	—		$	642,836
Intersegment	614		100			472		—			—			(1,186		)	—
Total net sales	$	230,849	$	216,799		$	146,730	$	49,644		$	—		$	(1,186	)	$	642,836
Income (loss) from operations	$	17,938	$	(1,003	)	$	9,297	$	(619	)	$	(9,316	)	$	—		$	16,297
Depreciation and amortization	$	8,246	$	7,564		$	7,010	$	1,261		$	514		$	—		$	24,595
Capital expenditures	$	961	$	1,344		$	1,220	$	730		$	978		$	—		$	5,233

The following table presents information about reported segments for the nine months ended September 27, 2013:

16

	U.S. Residential Products		U.S. Commercial Products			European Roll Coated Aluminum		European Engineered Products			Other Non- Allocated			Eliminations			Consolidated
Nine months ended September 27, 2013	(in thousands)
Net sales:
Third party	$	226,203	$	209,217		$	145,238	$	49,583		$	—		$	—		$	630,241
Intersegment	522		356			192		—			—			(1,070		)	—
Total net sales	$	226,725	$	209,573		$	145,430	$	49,583		$	—		$	(1,070	)	$	630,241
Income (loss) from operations	$	18,857	$	(1,830	)	$	7,422	$	(5,144	)	$	(8,166	)	$	—		$	11,139
Depreciation and amortization	$	8,721	$	7,866		$	7,149	$	1,397		$	424		$	—		$	25,557
Capital expenditures	$	2,076	$	1,367		$	2,527	$	396		$	989		$	—		$	7,355

It is impractical for the Company to provide revenues from external customers by groups of similar products. Accordingly, the following table reflects revenues from external customers by markets for the periods indicated:

		Three months ended				Nine months ended
Customers/Markets	Primary Products	September 26, 2014		September 27, 2013		September 26, 2014		September 27, 2013
		(in thousands)
Home Improvement Retailers	Rain carrying systems, metal panels, roofing accessories, windows, doors and shower enclosures	$	54,934	$	57,449	$	135,000	$	145,995
Rural Contractors	Steel and aluminum roofing and siding	46,974		44,029		103,001		97,932
Original Equipment Manufacturers (“OEMs”)	Painted aluminum sheet and coil; fabricated painted aluminum, laminated and fiberglass panels; windows and roofing; and composite building panels	46,033		45,474		158,330		149,791
Industrial and Architectural Contractors	Metal panels and siding and roofing accessories	38,168		37,926		110,410		112,721
Distributors	Metal coils, rain carrying systems and roofing accessories	31,043		25,096		73,296		67,121
Home Improvement Contractors	Vinyl replacement windows; metal coils, rain carrying systems; metal roofing and insulated roofing panels; shower, patio and entrance doors; and awnings	13,918		11,546		37,275		31,971
Manufactured Housing	Steel siding and trim components	8,872		6,315		25,524		24,710
		$	239,942	$	227,835	$	642,836	$	630,241

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11. Supplemental Guarantor Condensed Financial Information

On March 18, 2011, Euramax Holdings (presented as Parent in the following schedules), through its 100% owned subsidiary, Euramax International (presented as Issuer in the following schedules), issued the Notes. The Notes are fully and unconditionally guaranteed, jointly and severally, on a senior secured basis by Euramax Holdings, Euramax International, and Amerimax Richmond Company, a 100% owned domestic subsidiary of Euramax International. No other subsidiaries of Euramax International, whether direct or indirect, guarantee the Notes (the "Non-Guarantor Subsidiaries").

Additionally, the Notes are secured on a second priority basis by liens on all of the collateral (subject to certain exceptions) securing the ABL Credit Facility. In the event that secured creditors exercise remedies with respect to Euramax International's pledged assets, the proceeds of the liquidation of those assets will first be applied to repay obligations secured by the first priority liens under the senior secured credit facilities and any other first priority obligations.

The Indenture contains restrictive covenants that limit, among other things, the ability of Euramax International and certain of its subsidiaries to incur additional indebtedness, pay dividends and make certain distributions, make other restricted payments, make investments, incur liens, consolidate, merge, sell or otherwise dispose of all or substantially all of its assets and enter into certain transactions with affiliates, in each case, subject to exclusions, and other customary covenants. These limitations also limit Euramax International's ability to transfer cash or assets to Euramax Holdings, whether by dividend, loan or otherwise.

The following supplemental condensed consolidating financial statements present the results of operations, comprehensive operations, financial position and cash flows of (1) the Parent, (2) the Issuer, (3) the Non-Guarantor Subsidiaries, and (4) eliminations to arrive at the information for Euramax Holdings on a consolidated basis.

18

EURAMAX HOLDINGS, INC. AND SUBSIDIARIES
SUPPLEMENTAL CONDENSED CONSOLIDATING BALANCE SHEETS

SEPTEMBER 26, 2014

(in thousands)

(unaudited)

	Parent			Issuer			Non-Guarantor			Eliminations			Total
ASSETS
Current assets:
Cash and cash equivalents	$	—		$	907		$	2,328		$	—		$	3,235
Accounts receivable, less allowance for doubtful accounts	—			69,856			41,311			—			111,167
Inventories, net	—			92,459			27,719			—			120,178
Income taxes receivable	—			542			—			—			542
Deferred income taxes	—			556			19			—			575
Other current assets	—			5,603			2,517			—			8,120
Total current assets	—			169,923			73,894			—			243,817
Property, plant and equipment, net	—			55,054			61,297			—			116,351
Amounts due from affiliates	—			207,556			18,594			(226,150		)	—
Goodwill	—			81,359			113,983			—			195,342
Customer relationships, net	—			18,776			11,166			—			29,942
Other intangible assets, net	—			6,599			—			—			6,599
Investment in consolidated subsidiaries	(141,507		)	(2,243		)	—			143,750			—
Deferred income taxes	—			—			419			—			419
Other assets	—			2,765			3,699			—			6,464
Total assets	$	(141,507	)	$	539,789		$	283,052		$	(82,400	)	$	598,934
LIABILITIES AND SHAREHOLDERS’ (DEFICIT) EQUITY
Current liabilities:
Accounts payable	$	—		$	71,145		$	23,541		$	—		$	94,686
Accrued expenses and other current liabilities	41			19,289			11,228			—			30,558
Accrued interest payable	—			21,736			34			—			21,770
Current portion of long-term debt	—			—			8,253			—			8,253
Deferred income taxes	—			—			559			—			559
Total current liabilities	41			112,170			43,615			—			155,826
Long-term debt	—			540,812			—			—			540,812
Amounts due to affiliates	5,625			11,403			209,122			(226,150		)	—
Deferred income taxes	—			10,450			7,709			—			18,159
Other liabilities	—			6,461			24,849			—			31,310
Total liabilities	5,666			681,296			285,295			(226,150		)	746,107
Shareholders’ (deficit) equity:
Common stock	195			—			21			(21		)	195
Additional paid-in capital	724,443			661,550			199,452			(861,002		)	724,443
Accumulated loss	(882,544		)	(813,790		)	(214,697		)	1,028,487			(882,544		)
Accumulated other comprehensive income	10,733			10,733			12,981			(23,714		)	10,733
Total shareholders’ (deficit) equity	(147,173		)	(141,507		)	(2,243		)	143,750			(147,173		)
Total liabilities and shareholders’ (deficit) equity	$	(141,507	)	$	539,789		$	283,052		$	(82,400	)	$	598,934

19

EURAMAX HOLDINGS, INC. AND SUBSIDIARIES
SUPPLEMENTAL CONDENSED CONSOLIDATING BALANCE SHEETS

DECEMBER 31, 2013
(in thousands)

	Parent			Issuer			Non-Guarantor			Eliminations			Total
ASSETS
Current assets:
Cash and cash equivalents	$	—		$	1,700		$	7,277		$	—		$	8,977
Accounts receivable, less allowance for doubtful accounts	—			35,012			38,984			—			73,996
Inventories, net	—			62,270			27,490			—			89,760
Income taxes receivable	—			341			641			—			982
Deferred income taxes	—			559			21			—			580
Other current assets	—			5,462			1,546			—			7,008
Total current assets	—			105,344			75,959			—			181,303
Property, plant and equipment, net	—			62,185			67,929			—			130,114
Amounts due from affiliates	—			229,101			18,828			(247,929		)	—
Goodwill	—			81,359			122,694			—			204,053
Customer relationships, net	—			24,626			16,005			—			40,631
Other intangible assets, net	—			7,073			—			—			7,073
Investment in consolidated subsidiaries	(103,217		)	2,407			—			100,810			—
Deferred income taxes	—			—			87			—			87
Other assets	—			4,185			4,527			—			8,712
Total assets	$	(103,217	)	$	516,280		$	306,029		$	(147,119	)	$	571,973
LIABILITIES AND SHAREHOLDERS' (DEFICIT) EQUITY
Current liabilities:
Accounts payable	$	—		$	30,312		$	26,950		$	—		$	57,262
Accrued expenses and other current liabilities	14			16,133			10,219			—			26,366
Accrued interest payable	—			8,973			47			—			9,020
Deferred income taxes	—			—			605			—			605
Total current liabilities	14			55,418			37,821			—			93,253
Long-term debt	—			535,396			—			—			535,396
Amounts due to affiliates	5,332			12,086			230,511			(247,929		)	—
Deferred income taxes	—			9,561			9,419			—			18,980
Other liabilities	—			7,036			25,871			—			32,907
Total liabilities	5,346			619,497			303,622			(247,929		)	680,536
Shareholders’ (deficit) equity:
Common stock	195			—			21			(21		)	195
Additional paid-in capital	724,071			661,180			199,452			(860,632		)	724,071
Accumulated loss	(843,750		)	(775,318		)	(210,242		)	985,560			(843,750		)
Accumulated other comprehensive income	10,921			10,921			13,176			(24,097		)	10,921
Total shareholders’ (deficit) equity	(108,563		)	(103,217		)	2,407			100,810			(108,563		)
Total liabilities and shareholders’ (deficit) equity	$	(103,217	)	$	516,280		$	306,029		$	(147,119	)	$	571,973

20

EURAMAX HOLDINGS, INC. AND SUBSIDIARIES
SUPPLEMENTAL CONDENSED CONSOLIDATING STATEMENTS OF OPERATIONSFOR THE THREE MONTHS ENDED SEPTEMBER 26, 2014
(in thousands)

(unaudited)

	Parent			Issuer			Non-Guarantor			Eliminations			Total
Net sales	$	—		$	177,682		$	64,674		$	(2,414	)	$	239,942
Costs and expenses:
Cost of goods sold (excluding depreciation and amortization)	—			150,361			54,213			(2,414		)	202,160
Selling and general (excluding depreciation and amortization)	102			11,722			5,589			—			17,413
Depreciation and amortization	—			5,406			2,736			—			8,142
Other operating charges	—			795			256			—			1,051
Income (loss) from operations	(102		)	9,398			1,880			—			11,176
Equity in earnings (losses) of subsidiaries	(16,304		)	(1,471		)	—			17,775			—
Interest expense	—			(13,571		)	(324		)	—			(13,895		)
Intercompany income (loss), net	—			4,486			(4,486		)	—			—
Other (loss) income, net	—			(15,023		)	967			—			(14,056		)
Loss before income taxes	(16,406		)	(16,181		)	(1,963		)	17,775			(16,775		)
(Benefit from) provision for income taxes	—			123			(492		)	—			(369		)
Net loss	$	(16,406	)	$	(16,304	)	$	(1,471	)	$	17,775		$	(16,406	)

EURAMAX HOLDINGS, INC. AND SUBSIDIARIES
SUPPLEMENTAL CONDENSED CONSOLIDATING STATEMENTS OF COMPREHENSIVE OPERATIONS

FOR THE THREE MONTHS ENDED SEPTEMBER 26, 2014
(in thousands)

(unaudited)

	Parent			Issuer			Non-Guarantor			Eliminations			Total
Net loss	$	(16,406	)	$	(16,304	)	$	(1,471	)	$	17,775		$	(16,406	)
Other comprehensive income:
Foreign currency translation adjustment	204			204			204			(408		)	204
Defined benefit pension plan adjustments, net of tax	21			21			18			(39		)	21
Total comprehensive loss	$	(16,181	)	$	(16,079	)	$	(1,249	)	$	17,328		$	(16,181	)

21

EURAMAX HOLDINGS, INC. AND SUBSIDIARIES
SUPPLEMENTAL CONDENSED CONSOLIDATING STATEMENTS OF OPERATIONSFOR THE THREE MONTHS ENDED SEPTEMBER 27, 2013
(in thousands)

(unaudited)

	Parent			Issuer			Non-Guarantor			Eliminations			Total
Net sales	$	—		$	165,866		$	64,365		$	(2,396	)	$	227,835
Costs and expenses:
Cost of goods sold (excluding depreciation and amortization)	—			137,171			54,017			(2,396		)	188,792
Selling and general (excluding depreciation and amortization)	325			13,686			6,376			—			20,387
Depreciation and amortization	—			5,579			2,935			—			8,514
Other operating charges	—			155			1,300			—			1,455
Income (loss) from operations	(325		)	9,275			(263		)	—			8,687
Equity in earnings (losses) of subsidiaries	16,584			(4,171		)	—			(12,413		)	—
Interest expense	—			(13,528		)	(277		)	—			(13,805		)
Intercompany income (loss), net	—			4,478			(4,478		)	—			—
Other income (loss), net	—			8,313			(18		)	—			8,295
Income (loss) before income taxes	16,259			4,367			(5,036		)	(12,413		)	3,177
Benefit from income taxes	—			(12,217		)	(865		)	—			(13,082		)
Net income (loss)	$	16,259		$	16,584		$	(4,171	)	$	(12,413	)	$	16,259

EURAMAX HOLDINGS, INC. AND SUBSIDIARIES
SUPPLEMENTAL CONDENSED CONSOLIDATING STATEMENTS OF COMPREHENSIVE OPERATIONS

FOR THE THREE MONTHS ENDED SEPTEMBER 27, 2013

(in thousands)

(unaudited)

	Parent			Issuer			Non-Guarantor			Eliminations			Total
Net income (loss)	$	16,259		$	16,584		$	(4,171	)	$	(12,413	)	$	16,259
Other comprehensive income (loss):
Foreign currency translation adjustment	(89		)	(89		)	(89		)	178			(89		)
Defined benefit pension plan adjustments, net of tax	81			81			8			(89		)	81
Total comprehensive income (loss)	$	16,251		$	16,576		$	(4,252	)	$	(12,324	)	$	16,251

22

EURAMAX HOLDINGS, INC. AND SUBSIDIARIES
SUPPLEMENTAL CONDENSED CONSOLIDATING STATEMENTS OF OPERATIONSFOR THE NINE MONTHS ENDED SEPTEMBER 26, 2014
(in thousands)

(unaudited)

	Parent			Issuer			Non-Guarantor			Eliminations			Total
Net sales	$	—		$	441,341		$	207,434		$	(5,939	)	$	642,836
Costs and expenses:
Cost of goods sold (excluding depreciation and amortization)	—			376,504			171,643			(5,939		)	542,208
Selling and general (excluding depreciation and amortization)	322			36,200			18,857			—			55,379
Depreciation and amortization	—			16,198			8,397			—			24,595
Other operating charges	—			3,031			1,326			—			4,357
Income (loss) from operations	(322		)	9,408			7,211			—			16,297
Equity in earnings (losses) of subsidiaries	(38,472		)	(4,455		)	—			42,927			—
Interest expense	—			(40,520		)	(1,054		)	—			(41,574		)
Intercompany income (loss), net	—			13,825			(13,825		)	—			—
Other (loss) income, net	—			(15,876		)	1,500			—			(14,376		)
Loss before income taxes	(38,794		)	(37,618		)	(6,168		)	42,927			(39,653		)
(Benefit from) provision for income taxes	—			854			(1,713		)	—			(859		)
Net loss	$	(38,794	)	$	(38,472	)	$	(4,455	)	$	42,927		$	(38,794	)

EURAMAX HOLDINGS, INC. AND SUBSIDIARIES
SUPPLEMENTAL CONDENSED CONSOLIDATING STATEMENTS OF COMPREHENSIVE OPERATIONS

FOR THE NINE MONTHS ENDED SEPTEMBER 26, 2014
(in thousands)

(unaudited)

	Parent			Issuer			Non-Guarantor			Eliminations			Total
Net loss	$	(38,794	)	$	(38,472	)	$	(4,455	)	$	42,927		$	(38,794	)
Other comprehensive (loss) income:
Foreign currency translation adjustment	(250		)	(250		)	(250		)	500			(250		)
Defined benefit pension plan adjustments, net of tax	62			62			55			(117		)	62
Total comprehensive loss	$	(38,982	)	$	(38,660	)	$	(4,650	)	$	43,310		$	(38,982	)

23

EURAMAX HOLDINGS, INC. AND SUBSIDIARIES
SUPPLEMENTAL CONDENSED CONSOLIDATING STATEMENTS OF OPERATIONSFOR THE NINE MONTHS ENDED SEPTEMBER 27, 2013
(in thousands)

(unaudited)

	Parent			Issuer			Non-Guarantor			Eliminations			Total
Net sales	$	—		$	429,300		$	206,908		$	(5,967	)	$	630,241
Costs and expenses:
Cost of goods sold (excluding depreciation and amortization)	—			361,266			173,124			(5,967		)	528,423
Selling and general (excluding depreciation and amortization)	513			40,416			18,838			—			59,767
Depreciation and amortization	—			16,712			8,845			—			25,557
Other operating charges	—			821			4,534			—			5,355
Income (loss) from operations	(513		)	10,085			1,567			—			11,139
Equity in earnings (losses) of subsidiaries	(12,900		)	(11,619		)	—			24,519			—
Interest expense	—			(40,384		)	(873		)	—			(41,257		)
Intercompany income (loss), net	—			13,158			(13,158		)	—			—
Other income (loss), net	—			4,891			(830		)	—			4,061
Loss before income taxes	(13,413		)	(23,869		)	(13,294		)	24,519			(26,057		)
Benefit from income taxes	—			(10,969		)	(1,675		)	—			(12,644		)
Net loss	$	(13,413	)	$	(12,900	)	$	(11,619	)	$	24,519		$	(13,413	)

EURAMAX HOLDINGS, INC. AND SUBSIDIARIES
SUPPLEMENTAL CONDENSED CONSOLIDATING STATEMENTS OF COMPREHENSIVE OPERATIONS

FOR THE NINE MONTHS ENDED SEPTEMBER 27, 2013

(in thousands)

(unaudited)

	Parent			Issuer			Non-Guarantor			Eliminations			Total
Net loss	$	(13,413	)	$	(12,900	)	$	(11,619	)	$	24,519		$	(13,413	)
Other comprehensive (loss) income:
Foreign currency translation adjustment	(431		)	(431		)	(431		)	862			(431		)
Defined benefit pension plan adjustments, net of tax	246			246			29			(275		)	246
Total comprehensive loss	$	(13,598	)	$	(13,085	)	$	(12,021	)	$	25,106		$	(13,598	)

24

EURAMAX HOLDINGS, INC. AND SUBSIDIARIES
SUPPLEMENTAL CONDENSED CONSOLIDATING STATEMENTS OF CASH FLOWSFOR THE NINE MONTHS ENDED SEPTEMBER 26, 2014
(in thousands)

(unaudited)

	Parent		Issuer			Non-Guarantor			Eliminations			Total
Net cash used in operating activities	$	—	$	(8,172	)	$	(6,143	)	$	—		$	(14,315	)
Cash flows from investing activities:
Proceeds from sale of assets	—		776			1			—			777
Capital expenditures	—		(3,239		)	(1,994		)	—			(5,233		)
Due from (to) affiliates	—		4,949			—			(4,949		)	—
Net cash (used in) provided by investing activities	—		2,486			(1,993		)	(4,949		)	(4,456		)
Cash flows from financing activities:
Net borrowings on Dutch Revolving Credit Facility	—		—			8,253			—			8,253
Net borrowings on ABL Credit Facility	—		4,981			—			—			4,981
Change in cash overdrafts	—		—			215			—			215
Debt issuance costs	—		(88		)	—			—			(88		)
Due (to) from affiliates	—		—			(4,949		)	4,949			—
Net cash provided by financing activities	—		4,893			3,519			4,949			13,361
Effect of exchange rate changes on cash	—		—			(332		)	—			(332		)
Net decrease in cash and cash equivalents	—		(793		)	(4,949		)	—			(5,742		)
Cash and cash equivalents at beginning of period	—		1,700			7,277			—			8,977
Cash and cash equivalents at end of period	$	—	$	907		$	2,328		$	—		$	3,235

25

EURAMAX HOLDINGS, INC. AND SUBSIDIARIES
SUPPLEMENTAL CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWSFOR THE NINE MONTHS ENDED SEPTEMBER 27, 2013
(in thousands)

(unaudited)

	Parent		Issuer			Non-Guarantor			Eliminations			Total
Net cash used in operating activities	$	—	$	(10,148	)	$	(6,588	)	$	—		$	(16,736	)
Cash flows from investing activities:
Proceeds from sale of assets	—		266			2,022			—			2,288
Capital expenditures	—		(4,379		)	(2,976		)	—			(7,355		)
Due from (to) affiliates	—		—			2,209			(2,209		)	—
Net cash (used in) provided by investing activities	—		(4,113		)	1,255			(2,209		)	(5,067		)
Cash flows from financing activities:
Net borrowings on ABL Credit Facility	—		19,514			—			—			19,514
Net borrowings on Dutch Revolving Credit Facility	—		—			1,836			—			1,836
Debt issuance costs	—		(175		)	—			—			(175		)
Due (to) from affiliates	—		(2,209		)	—			2,209			—
Net cash provided by financing activities	—		17,130			1,836			2,209			21,175
Effect of exchange rate changes on cash	—		—			64			—			64
Net (decrease) increase in cash and cash equivalents	—		2,869			(3,433		)	—			(564		)
Cash and cash equivalents at beginning of period	—		1,574			8,450			—			10,024
Cash and cash equivalents at end of period	$	—	$	4,443		$	5,017		$	—		$	9,460

26

Item 2.  Management's Discussion and Analysis of Financial Condition and Results of Operations

Forward-Looking Statements

This report contains forward-looking statements. Statements that are predictive in nature, that depend upon or refer to future events or conditions or that include the words "believe," "expect," "anticipate," "intend," "estimate" and other expressions that are predictions of or indicate future events and trends and that do not relate to historical matters identify forward-looking statements. Our forward-looking statements include, among others, statements about our business strategy, our industry, our future profitability, our expected capital expenditures and the impact of such expenditures on our performance, the costs of operating as a public company, our capital programs and environmental expenditures. Forward-looking statements involve known and unknown risks, uncertainties and other factors, including the factors described under "Item 1A. Risk Factors," that may cause our actual results and performance to be materially different from any future results or performance expressed or implied by these forward-looking statements. Such risks and uncertainties include, among other things:

• the cyclical nature of the markets we serve;

• the general level of economic activity both in North America and International markets;

• the loss or reduction of purchases by key customers;

• external factors which impact our key retail customers and reduce purchases of our products;

• changes in strategic direction by our key retail customers;

• the effect of price competition in key markets and product lines;

• margin compression associated with higher operating costs which may not be recovered through increased customer pricing;

• consolidation of purchasing power among our customers;

• the supply and price levels of essential raw materials, particularly aluminum and steel;

• risks associated with the manufacturing process due to operating hazards and interruptions, including unscheduled maintenance or downtime;

• risks associated with revenue concentration at our key home improvement retail customers;

• risks associated with higher energy costs and the risk of disruptions in energy suppliers;

• the adequacy of our insurance coverage;

• our ability to effectively compete in the markets we serve;

• increased fuel costs which could adversely impact the RV industry;

• higher interest rates which could adversely impact the RV industry;

• the integrity of our information systems;

• seasonal effects on our customers' purchasing activity;

• adverse weather conditions;

• disruption in our supply chain or distribution of finished product;

• our ability to adequately protect our intellectual property rights and successfully defend against third-party claims of intellectual property infringement;

• higher fuel costs leading to increased transportation and distribution costs;

• the effect of product liability or warranty claims against us;

• the proliferation of low-cost competition, particularly in our core North American markets;

• environmental, health and safety laws and regulations;

• changes in commercial or residential building codes;

• our significant indebtedness and our ability to incur additional debt in the future;

• our ability to remain compliant under the agreements governing our indebtedness;

• our ability to refinance our indebtedness or generate sufficient cash to service all of our indebtedness;

• restrictions under our existing or future debt agreements that limit our operations;

• exposure to adjustments in interest rates;

• declines in our credit and debt ratings;

• instability in the capital and credit markets;

• the risks of doing business in foreign countries;

• fluctuations in foreign currency exchange rates;

• inability to effectively reinvest in our plants, technology, equipment and new product development due to our indebtedness;

• exposure to U.S. and foreign anti-corruption laws and economic sanctions programs;

• state, local and non-U.S. taxes and fluctuations in our tax obligations and effective tax rate;

• adverse effects of foreign taxation;

27

• adverse changes to accounting rules or regulations;

• the success of our acquisitions or divestitures;

• our ability to attract and retain qualified management and key personnel, including hourly personnel;

• labor and work stoppages;

• the effects of inflation on our business;

• the effects of government or regulatory activity and the costs of compliance with environmental and occupational health and safety laws and regulations;

• the potential for future impairment of our goodwill or other intangible assets; and

• global or regional catastrophic events.

You should not place undue reliance on our forward-looking statements. Although forward-looking statements reflect our good faith beliefs, forward-looking statements involve known and unknown risks, uncertainties and other factors, which may cause our actual results, performance or achievements to differ materially from anticipated future results, performance or achievements expressed or implied by such forward-looking statements. We caution you that the important factors referenced above may not contain all of the factors that could impair our results or that may be important to you. In addition, we cannot assure you that we will realize the results or developments we expect or anticipate or, even if substantially realized, that they will result in the consequences or affect us or our operations in the way we expect. The forward-looking statements included in this report are made only as of the date hereof. We undertake no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events, changed circumstances or otherwise, except to the extent required by law, rule or regulation.

Business Overview

We are a leading producer of metal and vinyl products sold to the residential repair and remodel, commercial construction and recreational vehicle (RV) markets primarily in North America and Europe. We are a leader in several niche product categories, including preformed roof-drainage products sold in the U.S., metal roofing and siding for post frame construction in the U.S., and aluminum siding for towable RVs in the U.S. and Europe.

Our customers are located predominantly throughout North America and Europe and include distributors, contractors and home improvement retailers, as well as RV, transportation and other original equipment manufacturers, or OEMs. We have extensive in-house manufacturing and distribution capabilities for our more than 10,000 unique products and operate through a network consisting of 35 facilities, including 29 located in the United States, one in Canada and five located in Europe. We have over 50 years of experience manufacturing building products and RV exterior components, including our time as a division of our former parent, Alumax Inc., or Alumax, a fully integrated aluminum producer acquired by Alcoa Inc. in 1998. We have operated as an independent company since 1996 when our division was acquired in a management-led buyout.     

Results of Operations

Our financial performance is affected by, among other factors, underlying trends in the United States and Europe that influence demand for products sold to residential repair and remodeling, commercial construction and RV markets:

• Our building products sold for residential repair and remodeling activities include roof drainage products, vinyl windows, patios and awnings, and doors. Projects that utilize many of our roof drainage repair and remodeling products are often low cost activities that are necessary to prevent home damage as a result of wear and tear or weather damage. Roof drainage repair projects are often low cost and non‑discretionary in nature. Repair and remodeling activity related to products other than roof drainage are typically higher cost and driven by turnover and aging of housing stock, consumer sentiment, availability of home equity and consumer financing and, in the case of our vinyl window products, consumer interest in energy efficiency.

• Our building products sold for commercial construction include, in the United States, light gauge steel and aluminum roofing and siding panels, trim and hardware and, in Europe, the Middle East and Asia, roll coated aluminum coil and sheet. Demand for these products is driven by consumer confidence, interest rates, consumer disposable income, the strength of agricultural markets, consumer access to affordable financing and commercial construction trends.

28

• Our commercial products sold to the RV market include siding and roofing. Demand for these RV products is driven by trends in disposable income, interest rates and general economic conditions, as well as similar demographic trends relating to the increased proportion of the United States and European population in the 55 through 74 year old age group, who serve as an important source of demand for our RV products.

Our sales volumes have historically been higher in the second and third quarters due to the seasonal demand of the building products markets served. Our working capital needs have been at their highest during these periods as well.

Three months ended September 26, 2014 Compared to the Three months ended September 27, 2013.

The following table sets forth net sales and income (loss) from operations data by segment for the three months ended September 26, 2014 and September 27, 2013:

	Net Sales					Income (Loss) from Operations
	Three Months Ended					Three Months Ended
	September 26, 2014		September 27, 2013		Increase (Decrease)	September 26, 2014			September 27, 2013			Increase (Decrease)
	(in millions)
U.S. Residential Products	$	94.1	$	87.5	7.5%	$	9.7		$	9.3		4.3%
U.S. Commercial Products	85.6		80.7		6.1%	2.2			2.3			(4.3)%
European Roll Coated Aluminum	44.7		45.7		(2.2)%	2.0			1.8			11.1%
European Engineered Products	15.5		13.9		11.5%	0.3			(1.6		)	118.8%
Other Non-Allocated	—		—		—	(3.0		)	(3.1		)	3.2%
Totals	$	239.9	$	227.8	5.3%	$	11.2		$	8.7		28.7%

Net Sales. Net sales include revenue recognized from the sales of our products less provisions for returns, allowances, rebates and discounts. Our net sales increased$12.1 million, or 5.3%, to $239.9 million in the third quarter of 2014 compared to $227.8 million in the third quarter of 2013. Net sales growth for the third quarter of 2014 was primarily driven by our U.S. Residential and Commercial Products segments. Foreign currency translation also resulted in an approximate $1.4 million increase in net sales during the quarter primarily as a result of the strengthening of the British pound sterling and the euro against the U.S. dollar.

Total net sales for our U.S. segments increased$11.5 million, or 6.8%, to $179.7 million in the third quarter of 2014 compared to $168.2 million in the third quarter of 2013.

Net sales of our U.S. Residential Products segment increased$6.6 million, or 7.5%, to $94.1 million in the third quarter of 2014 compared to $87.5 million in the third quarter of 2013. Demand for our roof drainage and roofing accessory products in the distribution market improved during the third quarter of 2014 compared to the third quarter of 2013. Demand from contractors for our vinyl window and patio offerings also increased during the third quarter of 2014. These improvements were partially offset by a decline in home center demand during the third quarter of 2014 compared to the third quarter of 2013.

Net sales of our U.S. Commercial Products segment increased$4.9 million, or 6.1%, to $85.6 million in the third quarter of 2014 compared to $80.7 million in the third quarter of 2013. Higher net sales resulted primarily from an increase in demand in the post frame construction market and higher demand from OEMs in the RV and transportation markets compared to the third quarter of 2013. These increases were partially offset by a decline in demand from OEMs for specialty coated aluminum coils and in architectural projects over the prior year quarter.

Total net sales for our European segments increased$0.6 million, or 1.0%, to $60.2 million in the third quarter of 2014 compared to $59.6 million in the third quarter of 2013. Foreign currency translation resulted in an approximate $1.4 million increase in net sales during the quarter primarily as a result of the strengthening of the British pound sterling and euro against the U.S. dollar.

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Net sales of our European Roll Coated Aluminum segment declined$1.0 million, or 2.2%, to $44.7 million in the third quarter of 2014 compared to $45.7 million in the third quarter of 2013. Foreign currency translation resulted in higher net sales of approximately $0.8 million compared to the third quarter of 2013 primarily as a result of the strengthening of the British pound sterling and euro against the U.S. dollar. Excluding the impact of foreign currency, sales declined $1.8 million primarily due to lower demand from OEMs in the transportation market partially offset by improvement in demand for specialty coated coil and panels used in architectural and industrial projects. Demand in this segment has been negatively impacted by continuing economic uncertainty and reduced consumer confidence.

Net sales of our European Engineered Products segment increased$1.6 million, or 11.5%, to $15.5 million in the third quarter of 2014 compared to $13.9 million in the third quarter of 2013. Strengthening of foreign currencies, primarily the British pound sterling and euro against the U.S. dollar, resulted in higher net sales of approximately $0.6 million compared to the third quarter of 2013. Excluding the impact of foreign currency, sales increased $1.0 million. This increase is primarily due to higher demand for factory built holiday homes in the UK in the third quarter of 2014.

Cost of Goods Sold. Cost of goods sold includes the cost of raw materials, manufacturing labor, packaging, utilities, freight, maintenance and other elements of manufacturing overhead. Cost of goods sold increased$13.4 million, or 7.1%, to $202.2 million in the third quarter of 2014 compared to $188.8 million in the third quarter of 2013. Foreign currency translation resulted in higher cost of goods sold of approximately $1.2 million as a result of the strengthening of the euro and British pound sterling against the U.S. dollar. Excluding the impact of foreign currency, cost of goods sold increased $12.2 million. The increase in cost of goods sold is primarily related to volume increases and higher raw material costs in our North America segments.

Selling and General. Selling and general expenses include salaries, benefits, incentive compensation, insurance, travel and entertainment and other administrative costs. Selling and general expenses declined$3.0 million, or 14.7%, to $17.4 million in the third quarter of 2014 compared to $20.4 million in the third quarter of 2013. Foreign currency translation resulted in higher selling and general costs of approximately $0.2 million as a result of the strengthening of the euro and British pound sterling against the U.S. dollar. Excluding the impact of foreign exchange, selling and general expenses declined $3.2 million. This decrease is primarily due to ongoing organizational initiatives to improve efficiency and streamline operations in both North America and Europe. Additionally, stock compensation expense declined $0.6 million due to the full vesting of the Company's 2009 restricted stock grant.

Depreciation and Amortization. Depreciation and amortization declined$0.4 million, or 4.7%, to $8.1 million in the third quarter of 2014 compared to $8.5 million in the third quarter of 2013.

Other Operating Charges.Other operating charges are comprised of restructuring initiatives, facility closures, and other operational initiatives. Other operating charges of $1.1 million in the third quarter of 2014declined$0.4 million compared to $1.5 million in the third quarter of 2013.

In the third quarter of 2014, other operating charges of $1.1 million were primarily comprised of severance costs and legal and professional fees. Other non-allocated charges of $0.6 million were primarily related to professional fees for consulting services during the executive transition period. The remaining $0.5 million related to severance and relocation costs for various organizational initiatives in the U.S. and Europe to reduce operating costs and improve efficiencies.

In the third quarter of 2013, other operating charges of approximately $1.5 million were primarily comprised of ongoing restructuring and relocation initiatives in the European Engineered Products segment, including approximately $0.8 million of severance and relocation costs associated with the relocation from multiple plant facilities in the UK into one operating location and $0.2 million of severance costs for various social programs in France. The remaining $0.5 million of other operating charges were comprised primarily of severance and relocation costs related to various organizational initiatives in our European Roll Coated Aluminum segment and in the U.S. to reduce operating costs and improve efficiencies.

Income (Loss) from Operations. As a result of the aforementioned items, our income from operations increased$2.5 million, to $11.2 million in the third quarter of 2014 compared to $8.7 million for the third quarter of 2013.

Income from operations of our U.S. Residential Products segment increased$0.4 million to $9.7 million for the third quarter of 2014 compared to $9.3 million for the third quarter of 2013. This increase is primarily related to higher sales and lower selling and general expenses as a result of the operational initiatives undertaken in North America.

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Income from operations of our U.S. Commercial Products segment declined$0.1 million to $2.2 million for the third quarter of 2014 compared to $2.3 million in the third quarter of 2013. Excluding the impact of other operating charges, which increased $0.1 million, income from operations remained flat compared to the third quarter of 2013. Higher cost of goods sold as a result of increased raw material costs were generally offset by cost savings as a result of operational initiatives undertaken in North America.

Income from operations of our European Roll Coated Aluminum segment increased $0.2 million to $2.0 million in the third quarter of 2014 compared to $1.8 million in the third quarter of 2013. The improvement in income from operations was primarily the result of the $0.3 million reduction in other operating charges and impact of cost saving initiatives, which offset the overall decline in sales volume quarter over quarter.

Income (loss) from operations of our European Engineered Products segment improved $1.9 million to income of $0.3 million for the third quarter of 2014 compared to a loss of $1.6 million in the third quarter of 2013. This improvement was primarily due to a $0.9 million decline in other operating charges which totaled $0.1 million in the current quarter related to relocation and severance costs compared to approximately $1.0 million of other operating charges in the third quarter of 2013. Excluding the impact of these other operating charges, loss from operations improved $1.0 million. This improvement is due to the increase in sales volume, as well as the successful organizational initiatives initiated in 2013 to combine multiple plant facilities and reduce operating costs in the UK.

Interest Expense. Interest expense for the third quarter of 2014 and for the third quarter of 2013 totaled approximately $13.9 million and $13.8 million, respectively. Interest expense is primarily comprised of interest on our Senior Secured Notes, Senior Unsecured Loan Facility, ABL Credit Facility, and Dutch Revolving Credit Facility.

Other Income (Loss), Net.Other income (loss), net includes translation gains and losses on intercompany obligations, gains and losses on asset disposals, interest income and other income or expense items of a non-operating nature.

Other loss, net in the third quarter of 2014 of $14.1 million consisted primarily of translation losses on intercompany obligations due to the weakening of the euro compared to the U.S. dollar totaling $14.8 million, which were offset by gains of approximately $0.7 million on forward foreign currency contracts.

Other income, net in the third quarter of 2013 of $8.3 million consisted primarily of translation gains on intercompany obligations due to the strengthening of the euro compared to the U.S. dollar totaling $8.9 million, which were offset by losses of approximately $0.3 million on forward foreign currency contracts and $0.2 million in various legal settlements.

Benefit from Income Taxes. We reported an income tax benefit of $0.4 million for the third quarter of 2014 compared to a benefit of $13.1 million for the third quarter of 2013. Benefit from income taxes during the third quarter of 2013 included income of approximately $12.4 million related to the reversal of a reserve for an uncertain tax position taken in a prior period as a result of the expiration of the statute of limitations. The income recognized in the quarter included recognition of approximately $9.0 million in previously unrecognized tax benefits and an additional $3.4 million related to the reversal of accrued interest and penalties associated with the position. Our effective tax rates were a benefit of 2.2% and 411.8% for the three months ended September 26, 2014 and September 27, 2013, respectively.

The effective rate for the third quarter of 2014 differed from the U.S. statutory rate primarily due to state income taxes, lower tax rates of our foreign operations compared to the U.S. federal rates, and recognition of valuation allowances related to net losses in the UK and in U.S. federal and state jurisdictions.

The effective rate for the third quarter of 2013 differed from the U.S. statutory rate primarily due to the reversal of an uncertain tax position in the U.S. as a result of the expiration of the statute of limitations. Other factors impacting the effective rate include lower tax rates of our foreign operations as compared to the U.S. federal rates, and recognition of valuation allowances related to net losses in the UK and for U.S. federal and state net operating losses.

Our effective tax rate reflects a full valuation allowance on losses in the United States. Without a valuation allowance, earnings from the United States are generally taxed at rates higher than the foreign statutory tax rates. The effective tax rate also reflects a full valuation allowance on losses in the UK. A change in the mix of pretax income from the various tax jurisdictions can have a significant impact on our periodic effective tax rate.

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Net Income (Loss). Our net loss was $16.4 million for the third quarter of 2014 compared to net income of $16.3 million for the third quarter of 2013. Net income (loss) was negatively impacted by non-cash losses totaling $14.1 million as a result of foreign currency fluctuations compared to income of $8.3 million in Q3 2013. Additionally, in the third quarter of 2013, we recognized an income tax benefit of $13.1 million related to the reversal of a reserve for an uncertain tax position. The negative impact of these non-operating items was offset by the overall improvement in income from operations compared to the third quarter of 2013.

Nine months ended September 26, 2014 Compared to the Nine months ended September 27, 2013.

The following table sets forth net sales and income (loss) from operations data by segment for the nine months ended September 26, 2014 and September 27, 2013:

	Net Sales					Income (Loss) from Operations
	Nine months ended					Nine months ended
	September 26, 2014		September 27, 2013		Increase (Decrease)	September 26, 2014			September 27, 2013			Increase (Decrease)
	(in millions)
U.S. Residential Products	$	230.2	$	226.2	1.8%	$	17.9		$	18.9		(5.3)%
U.S. Commercial Products	216.7		209.2		3.6%	(1.0		)	(1.8		)	44.4%
European Roll Coated Aluminum	146.3		145.2		0.8%	9.3			7.4			25.7%
European Engineered Products	49.6		49.6		—%	(0.6		)	(5.1		)	88.2%
Other Non-Allocated	—		—		—%	(9.3		)	(8.3		)	(12.0)%
Totals	$	642.8	$	630.2	2.0%	$	16.3		$	11.1		46.8%

Net Sales. Net sales include revenue recognized from the sales of our products less provisions for returns, allowances, rebates and discounts. Our net sales increased$12.6 million, or 2.0%, to $642.8 million in the first nine months of 2014 compared to $630.2 million in the first nine months of 2013. Foreign currency translation resulted in an approximate $8.4 million increase in net sales during the first nine months of 2014 primarily as a result of the strengthening of the euro and British pound sterling against the U.S. dollar. Excluding the impact of foreign exchange, net sales increased $4.2 million.

Total net sales for our U.S. segments increased$11.5 million, or 2.6%, to $446.9 million in the first nine months of 2014 compared to $435.4 million in the first nine months of 2013.

Net sales of our U.S. Residential Products segment increased$4.0 million, or 1.8%, to $230.2 million in the first nine months of 2014 compared to $226.2 million in the first nine months of 2013. The increase in net sales was primarily the result of higher demand for our roof drainage and roofing accessory products in the distribution market and from contractors for our vinyl window and patio offerings. These increases were partially offset by declines in our home center market during the first nine months of 2014 compared to 2013.

Net sales of our U.S. Commercial Products segment increased$7.5 million, or 3.6%, to $216.7 million in the first nine months of 2014 compared to $209.2 million in the first nine months of 2013. Higher net sales resulted from higher demand in the post frame construction markets and from OEMs in both the RV and transportation markets. Net sales increases were offset by a decline in demand in the architectural construction markets.

Total net sales for our European segments increased$1.1 million, or 0.6%, to $195.9 million in the first nine months of 2014 compared to $194.8 million in the first nine months of 2013. Foreign currency translation resulted in an approximate $8.4 million increase in net sales during the first nine months of 2014 as a result of the strengthening of the euro and British pound sterling against the U.S. dollar.

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Net sales of our European Roll Coated Aluminum segment increased$1.1 million, or 0.8%, to $146.3 million in the first nine months of 2014 compared to $145.2 million in the first nine months of 2013. Foreign currency translation resulted in higher net sales of approximately $5.8 million compared to the prior year period as a result of the strengthening of the euro and British pound sterling against the U.S. dollar. Excluding the impact of foreign currency, sales declined $4.7 million. Net sales declines resulted primarily from lower demand from OEMs in the transportation market and aluminum coils sold in the architectural and industrial markets. These losses were partially offset by ongoing business development initiatives in emerging markets.

Net sales of our European Engineered Products segment remained flat at $49.6 million in the first nine months of 2014 compared to $49.6 million in the first nine months of 2013. Strengthening of foreign currencies, primarily the euro and British pound sterling against the U.S. dollar, resulted in higher net sales of approximately $2.6 million compared to the first nine months of 2013. Excluding the impact of foreign currency, net sales declined $2.6 million. This decline is primarily due to lower demand in the industrial and architectural markets in the UK for the first nine months of 2014.

Cost of Goods Sold. Cost of goods sold includes the cost of raw materials, manufacturing labor, packaging, utilities, freight, maintenance and other elements of manufacturing overhead. Cost of goods sold increased$13.8 million, or 2.6%, to $542.2 million in the first nine months of 2014 compared to $528.4 million in the first nine months of 2013. Foreign currency translation resulted in higher cost of goods sold of approximately $7.1 million as a result of the strengthening of the euro against the U.S. dollar. Excluding the impact of foreign currency, cost of goods sold increased $6.7 million. The increase in cost of goods sold is primarily related to volume increases and higher raw material costs in our North America segments, partially offset by lower variable labor costs as a result of efficiency improvements and cost reducing initiatives across the Company.

Selling and General. Selling and general expenses include salaries, benefits, incentive compensation, insurance, travel and entertainment and other administrative costs. Selling and general expenses declined$4.4 million, or 7.4%, to $55.4 million in the first nine months of 2014 compared to $59.8 million in the first nine months of 2013. Foreign currency translation resulted in higher selling and general costs of approximately $0.9 million as a result of the strengthening of the euro and British pound sterling against the U.S. dollar. Excluding the impact of foreign exchange, selling and general expenses declined $5.3 million. The decrease is primarily due to organizational initiatives to improve efficiency and streamline operations across the Company and a decline in stock compensation expense due to the full vesting of the Company's 2009 restricted stock grant.

Depreciation and Amortization. Depreciation and amortization declined$1.0 million, or 3.9%, to $24.6 million in the first nine months of 2014 compared to $25.6 million in the first nine months of 2013.

Other Operating Charges.Other operating charges are comprised of restructuring initiatives, facility closures, and other operational initiatives. Other operating charges of $4.4 million in the first nine months of 2014declined$1.0 million compared to $5.4 million in the first nine months of 2013. In the second quarter of 2014, after an ongoing review of its North American operations, the Company took steps to rationalize its workforce and to invest in select value-creating officer roles. These actions led to the elimination of certain non-essential salaried positions in the Company's North America business segments and at its Corporate Headquarters in Norcross, GA. The Company believes these steps will result in a more competitive platform that provides both meaningful operational and cost benefits.

In the first nine months of 2014, other operating charges of approximately $4.4 million were primarily comprised of severance costs and legal and professional fees. Other non-allocated charges of $1.9 million were made up of severance and professional fees for consulting services during the executive transition period. Ongoing restructuring initiatives in the European Engineered Products segment totaled $1.3 million, including approximately $0.8 million of severance costs for various social programs in France and $0.5 million of severance in the UK. The remaining other operating charges in the first nine months of 2014 were comprised of $1.2 million in severance and relocation costs in the U.S. primarily related to the workforce rationalization and organizational initiatives to reduce operating costs and improve efficiencies. Total costs related to the North America workforce rationalization include $0.4 million in the Residential Products segment, $0.4 million in the Commercial Products segment, and $0.2 million in other non-allocated charges for corporate employees.

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In the first nine months of 2013, other operating charges of approximately $5.4 million were primarily comprised of restructuring and relocation initiatives in the European Engineered Products segment including a $1.6 million loss related to the sale of land and buildings and $2.0 million of severance, relocation, and other restructuring charges related to the relocation from multiple plant facilities in the UK into one operating location and $0.5 million of severance costs for various social programs in France. The remaining other operating charges in the first nine months of 2013 were comprised of $1.3 million in severance and relocation costs in both the U.S. and Europe related to various organizational initiatives to reduce operating costs and improve efficiencies.

Income (Loss) from Operations. As a result of the aforementioned items, our income from operations increased$5.2 million, to $16.3 million in the first nine months of 2014 compared to $11.1 million for the first nine months of 2013.

Income from operations of our U.S. Residential Products segment declined$1.0 million to $17.9 million for the first nine months of 2014 compared to $18.9 million for the first nine months of 2013. Excluding the increase in other operating charges of $0.4 million, income from operations declined $0.6 million. This decrease is primarily related to higher raw material costs and changes in product mix during the first nine months of 2014 compared to the first nine months of 2013. These declines were partially offset by organizational initiatives and higher selling prices during the third quarter of 2014.

Loss from operations of our U.S. Commercial Products segment improved $0.8 million to a loss of $1.0 million for the first nine months of 2014 compared to a loss of $1.8 million in the first nine months of 2013. Excluding the increase in other operating charges of $0.3 million, income from operations improved $1.1 million. This improvement is primarily the result of higher sales volumes compared to the first nine months of 2013 and operational initiatives during the third quarter of 2014.

Income from operations of our European Roll Coated Aluminum segment increased$1.9 million to $9.3 million in the first nine months of 2014 compared to $7.4 million in the first nine months of 2013. The improvement in operating income was primarily due to lower other operating charges of $0.5 million and higher gross margins as a result of higher net sales in the RV market combined with business development initiatives during the first nine months of 2014.

Loss from operations of our European Engineered Products segment improved $4.5 million to a loss of $0.6 million for the first nine months of 2014 compared to a loss of $5.1 million in the first nine months of 2013. This improvement was primarily due to a $2.8 million decline in other operating charges from approximately $4.0 million in the first nine months of 2013 compared to $1.2 million in the first nine months of 2014. Other operating charges in the first nine months of 2013 related primarily to the relocation and consolidation of multiple plant facilities into one location in the UK. Excluding the impact of other operating charges, loss from operations improved $1.7 million over the prior year despite flat net sales. This improvement in income from operations reflects organizational initiatives to streamline operations and improve efficiency and reflects a focus on customer and product profitability initiatives.

Interest Expense. Interest expense for the first nine months of 2014 and for the first nine months of 2013 totaled approximately $41.6 million and $41.3 million, respectively. Interest expense is primarily comprised of interest on our Senior Secured Notes, Senior Unsecured Loan Facility, ABL Credit Facility, and Dutch Revolving Credit Facility.

Other Income (Loss), Net.Other income (loss), net includes translation gains and losses on intercompany obligations, gains and losses on asset disposals, interest income and other income or expense items of a non-operating nature.

Other loss, net in the first nine months of 2014 of $14.4 million consisted primarily of translation losses on intercompany obligations due to the weakening of the euro compared to the U.S. dollar totaling $15.1 million, which were offset by gains on forward foreign currency contracts of $0.7 million.

Other income, net in the first nine months of 2013 of $4.1 million consisted primarily of translation gains on intercompany obligations due to the strengthening of the euro compared to the U.S. dollar totaling $4.1 million. Additionally, net gains of $0.2 million as a result of favorable legal settlements were offset by losses on forward foreign currency contracts of $0.2 million.

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Benefit from Income Taxes. We reported an income tax benefit of $0.9 million for the first nine months of 2014 compared to a benefit of $12.6 million for the first nine months of 2013. Benefit from income taxes during the first nine months of 2013 included income of approximately $12.4 million related to the reversal of a reserve for an uncertain tax position taken in a prior period as a result of the expiration of the statute of limitations. The income recognized in the quarter included recognition of approximately $9.0 million in previously unrecognized tax benefits and an additional $3.4 million related to the reversal of accrued interest and penalties associated with the position. Our effective tax rates were a benefit of 2.2% and 48.5% for the nine months ended September 27, 2013.

The effective rate for the first nine months of 2014 differed from the U.S. statutory rate primarily due to state income taxes, lower tax rates of our foreign operations compared to the U.S. federal rates, and recognition of valuation allowances related to net losses in the UK and in U.S. federal and state jurisdictions.

The effective rate for the first nine months of 2013 differed from the U.S. statutory rate primarily due to the reversal of an uncertain tax position in the U.S. as a result of the expiration of statute of limitations. Other factors impacting the effective rate include state income taxes, lower tax rates of our foreign operations as compared to the U.S. federal rates, and recognition of valuation allowances related to net losses in the UK and for U.S. federal and state net operating losses.

Our effective tax rate reflects a full valuation allowance on losses in the U.S. Without a valuation allowance, earnings from the United States are generally taxed at rates higher than the foreign statutory tax rates. The effective tax rate also reflects a full valuation allowance on losses in the UK. A change in the mix of pretax income from the various tax jurisdictions can have a significant impact on our periodic effective tax rate.

Net Loss. Our net loss was $38.8 million for the first nine months of 2014 compared to a net loss of $13.4 million for the first nine months of 2013. Net income (loss) was negatively impacted by non-cash losses totaling $14.4 million as a result of foreign currency fluctuations compared to income of $4.1 million in 2013. Additionally, in the third quarter of 2013, we recognized an income tax benefit of $13.1 million related to the reversal of a reserve for an uncertain tax position. The negative impact of these non-operating items was offset by the overall improvement in income from operations compared to the first nine months of 2013.

Liquidity and Capital Resources

Our principal sources of liquidity are from cash and cash equivalents, cash from operations and borrowings under our ABL Credit Facility and Dutch Revolving Credit Facility. As of September 26, 2014, we had cash and cash equivalents of $3.2 million. Net cash used in operating activities was $14.3 million for the nine months ended September 26, 2014 compared to net cash used in operating activities of $16.7 million for the nine months ended September 27, 2013. As of September 26, 2014, we had $41.7 million outstanding and availability of $28.3 million under our ABL Credit Facility and $8.3 million outstanding and availability of $10.8 million on our Dutch Revolving Credit Facility.

Our ability to make debt service payments, refinance our indebtedness, maintain capital assets and satisfy our other capital and commercial commitments will depend on our ability to generate cash flow in the future. This ability, to a certain extent, is subject to general economic, financial, competitive, legislative, regulatory and other factors. While these factors are beyond our control, we frequently invest in sources of liquidity with the intent of improving our ability to generate future cash flow. Such investments have, and may in the future, include product development initiatives, restructuring and growth oriented capital expenditures, and business acquisitions. We believe our September 26, 2014 cash levels, together with our cash from operations and borrowings under our revolving credit facilities will be adequate to fund our cash requirements based on our current level of operations for at least the next twelve months.

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Debt

Notes

Our Notes consist of an aggregate principal amount of $375 million, which were issued pursuant to an indenture (the "Indenture"), dated March 18, 2011, among Euramax Holdings, Inc. ("Euramax Holdings"), Euramax International, Inc. ("Euramax International"), and certain of its domestic subsidiaries as guarantors, and Wells Fargo Bank, National Association, the Trustee.The Notes are fully and unconditionally guaranteed, jointly and severally, on a senior secured basis by Euramax Holdings and Amerimax Richmond Company, a 100% owned domestic subsidiary of Euramax International. The Notes bear interest at 9.50% per year and mature on April 1, 2016, unless earlier redeemed or repurchased by Euramax International. Interest is payable semi-annually on April 1 and October 1 of each year.

The Notes are secured by a first priority security interest in (i) substantially all of the assets of Euramax International and the guarantors (other than inventory and accounts receivable and related assets, which assets secure the ABL Credit Facility on a first priority basis) and (ii) all of Euramax International's capital stock and the capital stock of each material domestic restricted subsidiary owned by Euramax International or a guarantor and 65% of the voting capital stock and 100% of any non-voting capital stock of foreign restricted subsidiaries directly owned by us or a guarantor, and a second priority security interest in our inventory, receivables and related assets.

The Notes may be redeemed at Euramax International's option, in whole or in part, under the conditions specified in the Indenture, at the following redemption prices plus accrued and unpaid interest to the redemption date, if redeemed during the twelve month period beginning on April 1 of the years indicated:

Year	Percentage
2013	107.125	%
2014	104.750	%
2015 and thereafter	100.000	%

The Indenture governing the Notes contains restrictive covenants that limit, among other things, the ability of Euramax International and certain of its subsidiaries to incur additional indebtedness, pay dividends and make certain distributions, make other restricted payments, make investments, incur liens, consolidate, merge, sell or otherwise dispose of all or substantially all of its assets and enter into certain transactions with affiliates, in each case, subject to exclusions, and other customary covenants. These limitations also limit Euramax International's ability to transfer cash or assets to Euramax Holdings, whether by dividend, loan, or otherwise. The Indenture also contains customary events of default. If Euramax International undergoes a change of control (as defined in the Indenture), Euramax International will be required to make an offer to repurchase the notes at 101% of the principal amount of the Notes redeemed plus accrued and unpaid interest, if any, to the date of redemption.

Senior Unsecured Loan Facility

In March 2011, Euramax Holdings, Euramax International, and certain of its domestic subsidiaries entered into the Senior Unsecured Loan Facility with investment funds affiliated with Highland Capital Management, L.P. and Levine Leichtman Capital Partners, as lenders in the aggregate principal amount of $125.0 million. The indebtedness incurred under the Senior Unsecured Loan Facility was issued at 98% of par on March 18, 2011 and matures on October 1, 2016. The difference between the consideration received and the aggregate face amount of the Senior Unsecured Loan Facility ($0.9 million) is being amortized and recorded in interest expense using the effective interest rate method over the term. The Senior Unsecured Loan Facility bears interest at 12.25% per year in the event no election is made to pay interest in kind (PIK), and 14.25% (7.875% cash pay and 6.375% PIK) per annum in the event a PIK election is made. Euramax International may make a PIK election for up to six quarters during the term of the Senior Unsecured Loan Facility. The interest rate on outstanding borrowings at September 26, 2014 was 12.25%, as the Company has not made a PIK election. During the second quarter of 2014, Levine Leichtman Capital Partners assigned its holdings in the Senior Unsecured Loan Facility to Credit Suisse Loan Funding LLC.

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Euramax International may prepay outstanding amounts under the Senior Unsecured Loan Facility, in whole or in part, at the prices (expressed as a percentage of the loans) set forth below:

Prepayment Date	Percentage
On or after the second anniversary of the closing but prior to the third anniversary thereof	103	%
On or after the third anniversary of the closing but prior to the fourth anniversary thereof	102	%
On or after the fourth anniversary of the closing	100	%

Upon a change of control, Euramax International may be required to prepay all or a portion of the Senior Unsecured Loan Facility at a price equal to 101% of the principal amount plus accrued and unpaid interest.All obligations under the Senior Unsecured Loan Facility are unconditionally guaranteed by Euramax Holdings, Euramax International, and substantially all of Euramax International's existing and future direct and indirect 100% owned domestic material restricted subsidiaries subject to certain exceptions.

The Senior Unsecured Loan Facility contains restrictive covenants that limit, among other things, the ability of Euramax International and certain of its subsidiaries to incur additional indebtedness, pay dividends and make certain distributions, make other restricted payments, make investments, incur liens, consolidate, merge, sell or otherwise dispose of all or substantially all of our assets and enter into certain transactions with affiliates, in each case, subject to exclusions, and other customary covenants.

The Senior Unsecured Loan Facility contains certain customary representations and warranties, affirmative covenants and events of default, including among other things, payment defaults, covenant defaults, cross‑defaults to certain indebtedness, certain events of bankruptcy, material judgments, and failure of any guaranty supporting the Senior Unsecured Loan Facility to be in force and effect in any material respect. If such an event of default occurs, the administrative agent would be entitled to take various actions, including the acceleration of amounts due under the Senior Unsecured Loan Facility and all actions permitted to be taken by an unsecured creditor.

ABL Credit Facility

On March 18, 2011, Euramax Holdings, Euramax International, and certain of its domestic subsidiaries entered into the ABL Credit Facility with various lenders, Regions Bank, as Collateral and Administrative Agent, Wells Fargo Capital Finance, LLC, as Co-Collateral Agent, and Regions Business Capital, as Sole Lead Arranger and Bookrunner. The ABL Credit Facility provides for revolving credit financing of up to $70 million, subject to a borrowing base, and matures on March 1, 2018. However, if the Agent has not received on or before December 31, 2015, evidence satisfactory to Agent that the scheduled maturity dates of the indebtedness arising under the Indenture and the Senior Unsecured Loan Facility, in each case, have been extended to a date that is 90 or more days following March 1, 2018, then the maturity date for the ABL Credit facility shall be January 1, 2016. In March 2014, Wells Fargo Capital Finance, LLC ceased to be Co-Collateral Agent and a Lender under the ABL Credit Facility.

On March 21, 2014 and May 8, 2014, the ABL Credit Facility was amended to, among other items, (i) reduce the applicable margin rate for LIBOR borrowings from a range of 2.00% to 2.75% to a range of 1.75% to 2.25% and reduce the applicable margin rate for Base Rate borrowings from a range of 1.00% to 1.75% to a range of 1.00% to 1.25%, in each case, based on average excess availability rather than corporate credit ratings of the Company, (ii) reduce the minimum excess availability threshold to $1.0 million, (iii) reduce the fixed charge coverage ratio from 1.15 to 1.00, (iv) suspend the testing of the fixed charge coverage ratio (A) during fiscal year 2014, unless a Seasonal Overadvance A is then in effect, (B) at all other times including during fiscal year 2014 during the occurrence of a Seasonal Overadvance B or (C) during the occurrence of a Seasonal Overadvance C, (v) suspend the testing of the minimum consolidated EBITDA test except (A) during fiscal year 2014 if a Seasonal Overadvance A is then in effect, (B) at any time during the life of the ABL Credit Facility, during the occurrence of a Seasonal Overadvance B or (C) at any time during the life of the ABL Credit Facility during the occurrence of a Seasonal Overadvance C, and (vi) provide for the three mutually exclusive overadvance facilities as described below.

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"Seasonal Overadvance A", in the amount of $15.0 million, is available to the Company from February 1 of each year through May 31 of each such year, subject to the Company demonstrating compliance with the fixed charge coverage ratio of 1.00:1.00, payment of a fee in the amount of 0.20% of the amount of such facility (the "Seasonal Overadvance Fee") and other customary conditions.

"Seasonal Overadvance B", in the amount of $9.0 million, is available to the Company from February 1 of each year through November 30 of each such year, subject to the Company demonstrating compliance with a U.S. fixed charge coverage ratio of 1.00:1.00, payment of the Seasonal Overadvance Fee (except to the extent already paid during such calendar year), maintenance of a U.S. fixed charge coverage ratio of 1.00:1.00 and other customary conditions.

"Seasonal Overadvance C", in the amount of the lesser of (i) $6.0 million and (ii) the sum of (a) 10% of the first component of the borrowing base and (b) 10% of the second component of the borrowing base, is available to the Company from February 1 of each year through August 22 of each such year, subject to the payment of the Seasonal Overadvance Fee (except to the extent already paid during such calendar year), maintenance of a minimum consolidated EBITDA over the trailing twelve months of $52.0 million ($50.0 million for fiscal 2014) and other customary conditions.

Borrowings under the ABL Credit Facility bear interest at a rate per annum equal to either (a) LIBOR plus an applicable margin or (b) a base rate determined by reference to the highest of (1) the prime commercial lending rate published by Regions Bank as its “prime rate” for commercial loans, (2) the federal funds effective rate plus 0.50% and (3) the one-month LIBOR plus 1.00%, plus an applicable margin. The applicable margin is dependent upon the type of borrowings Euramax International has made under the ABL Credit Facility. At September 26, 2014, the applicable margins are subject to Euramax International’s Average Excess Availability Percentage for the most recently ended fiscal quarter and range from 1.75% to 2.25% for LIBOR borrowings and 1.00% to 1.25% for Base Rate borrowings. The weighted average interest rate at September 26, 2014, including the applicable margin payable on outstanding borrowings under the ABL Credit Facility, was 2.41%. The ABL Credit Facility requires Euramax International to pay a commitment fee ranging from 0.375% to 0.5%, based on the unutilized commitments. Euramax International is also required to pay customary letter of credit fees, including, without limitation, a letter of credit fee equal to the applicable margin on revolving credit LIBOR loans and fronting fees.

Dutch Revolving Credit Facility

In February 2012, our 100% owned subsidiary in the Netherlands, Euramax Coated Products, BV entered into the Dutch Revolving Credit Facility with Rabobank Roermond (Rabobank). The Dutch Revolving Credit Facility provides revolving credit financing of up to EUR 15 million and matures on April 1, 2016. Borrowings under the Dutch Revolving Credit Facility bear interest at a rate per annum which is the aggregate of the average one month Euribor rate over a calendar month plus a margin of 2% and requires payment of a Credit Fee of 0.35% per annum on the nominal amount of the credit facility. All obligations under the Dutch Revolver are secured by a mortgage on the real estate of Euramax Coated Products, BV, a pledge on present and future machinery and present and future accounts receivable balances of Euramax Coated Products, BV.

The Dutch Revolving Credit Facility contains financial and non-financial covenants customary for this type of financing. Financial covenants include, but are not limited to a minimum annual EBITDA target and a minimum requirement for risk-bearing capital, for Euramax Coated Products, BV, both measured at the Company's fiscal year end. The Dutch Revolving Credit Facility also contains a clause limiting further indebtedness.

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Covenant Ratios Contained in the Indenture, the ABL Credit Facility and the Senior Unsecured Loan Facility.    

The Indenture governing the Notes and the Senior Unsecured Loan Facility contain two material covenants which utilize financial ratios. These covenants do not require Euramax International to maintain specified ratio levels at all times or at regular intervals. However, if Euramax International elected to incur additional indebtedness under the ratio test without having availability under other debt baskets, or make restricted payments under the restricted payment covenant without having availability under our restricted payment baskets, non-compliance with these covenants could result in an event of default under the Indenture and, under certain circumstances, a requirement to immediately repay all amounts outstanding under the Notes and could trigger a cross-default under our credit facilities or other indebtedness Euramax International may incur in the future. Euramax International is permitted to incur indebtedness under the Indenture and the Senior Unsecured Loan Facility if the ratio of Consolidated Cash Flow to Fixed Charges on a pro forma basis (referred to in the Indenture and the Senior Unsecured Loan Facility as the "Fixed Charge Coverage Ratio") is greater than 2:1 or, if the ratio is less, only if the indebtedness falls into specified debt baskets, including, for example, a credit agreement debt basket, an existing debt basket, a capital lease and purchase money debt basket, an intercompany debt basket, a permitted guarantee debt basket, a hedging debt basket, a receivables transaction debt basket and a general debt basket. In addition, under the Indenture and Senior Unsecured Loan Facility, Euramax International is permitted to incur secured debt only if the ratio of Consolidated Secured Indebtedness to Consolidated Cash Flow on a pro forma basis (referred to in the Indenture and the Senior Unsecured Loan Facility as the "Secured Debt Ratio") is equal to or less than 3.75:1.00. Second, the restricted payment covenant provides that Euramax International may declare certain dividends, or repurchase equity securities, in certain circumstances only if the Fixed Charge Coverage Ratio is greater than 2:1. In addition, under the ABL Credit Facility, Euramax International is required to meet either a minimum consolidated Fixed Charge Coverage Ratio or a minimum consolidated EBITDA, in each case under certain circumstances, when excess availability is less than 12.5% of the lesser of the aggregate amount of commitments outstanding at such time and the borrowing base.

The Fixed Charge Coverage Ratio and the Secured Debt Ratio under the Indenture only limit the ability of Euramax International to incur additional indebtedness and the failure of the Company to be within these ratios would not be an event of default under the Indenture or Senior Unsecured Loan Facility. Euramax has not incurred any additional indebtedness or made any restricted payments pursuant to the provisions in the Indenture and the Senior Unsecured Loan Facility that rely on such ratios.

The provisions of the ABL Credit Facility only require Euramax International to meet the Minimum Consolidated Adjusted EBITDA or Minimum Fixed Charge Coverage Ratio under the ABL Credit Facility when excess availability is less than 12.5%. As of September 26, 2014, because excess availability under the ABL Credit Facility exceeded 12.5% of the borrowing base, Euramax International was not required to meet the Minimum Consolidated Adjusted EBITDA or Minimum Consolidated Fixed Charge Coverage Ratio under the ABL Credit Facility. The Company does not expect excess availability to fall below 12.5% on any testing date during the next twelve months.

Cash Flows

The following table summarizes our cash flows for the nine months ended September 26, 2014 and September 27, 2013:

	Nine months ended
	September 26, 2014			September 27, 2013
	(in thousands)
Net cash used in operating activities	$	(14,315	)	$	(16,736	)
Net cash used in investing activities	(4,456		)	(5,067		)
Net cash provided by financing activities	13,361			21,175
Effect of exchange rate changes on cash	(332		)	64
Net decrease in cash and cash equivalents	$	(5,742	)	$	(564	)

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Nine months ended September 26, 2014 Compared to the Nine months ended September 27, 2013.

Operating Activities. Cash used in operating activities in the first nine months of 2014 was approximately $14.3 million compared to cash used in operating activities of $16.7 million for the first nine months of 2013, an increase in cash flow of $2.4 million. Cash flow from operations included interest payments totaling $26.3 million and $26.4 million for the nine month periods ended September 26, 2014 and September 27, 2013, respectively. This improvement in operating cash flow is primarily related to the improvement in operating income during the first nine months of 2014 and as a result of working capital initiatives in 2014.

Investing Activities. Cash used in investing activities in the first nine months of 2014 was $4.5 million. Capital expenditures of $5.2 million were offset by proceeds from asset sales of approximately $0.8 million in the first nine months of 2014.

Cash used in investing activities in the first nine months of 2013 was $5.1 million. Capital expenditures of $7.4 million were offset by $2.3 million of proceeds from the sale of assets in the first nine months of 2013. The proceeds from the sale of assets included $2.0 million related to the sale of assets held for sale in our European Engineered Products segment.

Financing Activities. Cash provided by financing activities during the first nine months of 2014 was $13.4 million and consisted primarily of net borrowings on our ABL Credit Facility totaling $5.0 million and net borrowings on our Dutch Revolving Credit Facility totaling $8.3 million, and an increase in cash overdrafts of $0.2 million. Net cash provided by these borrowings was partially offset by $0.1 million of debt issuance costs related to the amendment of the ABL Credit Facility.

Cash provided by financing activities during the first nine months of 2013 was $21.2 million and consisted primarily of net borrowings under the ABL Credit Facility of $19.5 million and net borrowings on our Dutch Revolving Credit Facility totaling $1.8 million. Net cash provided by these borrowings were partially offset by $0.2 million of debt issuance costs related to the amendment of the ABL Credit Facility.

Capital Expenditures

Our capital expenditures for the first nine months of 2014 and the first nine months of 2013 were $5.2 million and $7.4 million, respectively. Capital expenditures in each period relate primarily to purchases and upgrades of coil coating, fabricating, transportation and material moving and handling equipment.

Seasonality; Inflation

Our sales have historically been seasonal, with the second and third quarters typically accounting for our highest sales volumes. First and fourth quarter sales volumes are generally lower primarily due to reduced repair and remodel activity and reduced activity in the building and construction industry as a result of colder and more inclement weather in our geographic end markets, as well as customer plant shutdowns in the RV and automotive industries during holidays and model changeovers.

Our cost of goods sold is subject to inflationary pressures and price fluctuations of the raw materials we use, particularly the cost of aluminum and steel. In addition, we are party to certain leases that contain escalator clauses contingent on increases based on changes in the Consumer Price Index. We believe that inflation and deflation had a minimal impact on our overall results of operations during the nine months ended September 26, 2014 and September 27, 2013.

Working Capital Management

Working capital decreased$0.1 million, or 0.1%, to $88.0 million as of September 26, 2014 from $88.1 million as of December 31, 2013. The decrease in working capital is primarily attributable to seasonal increases in accounts receivable and inventory partially offset by increases in accounts payable and current borrowings on our Dutch Revolving Credit Facility. We historically experience an increase in inventory and accounts receivable during the first half of the year as many customers in our markets increase purchases in the spring and gradually decline throughout the second half of the year.

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Accounts receivable of $111.2 million as of September 26, 2014increased$37.2 million, or 50.3%, from $74.0 million as of December 31, 2013. The primary reason for the increase in accounts receivable was a 34.0% increase in net sales for the two months ended September 26, 2014 compared to the two months ended December 31, 2013. Typically the majority of outstanding receivables are generated from net sales in the preceding two months. As of September 26, 2014, days sales outstanding in accounts receivable were 42.2 days, compared to 35.8 days as of December 31, 2013.

Inventories of $120.2 million as of September 26, 2014increased$30.4 million, or 33.9%, from $89.8 million as of December 31, 2013, primarily as a result of seasonal increases in demand. As of September 26, 2014, days sales in inventories were 54.1 days, compared to 49.7 days as of December 31, 2013.

Accounts payable of $94.7 million as of September 26, 2014increased$37.4 million, or 65.3%, from $57.3 million as of December 31, 2013. Higher accounts payable balances reflect increasing inventory levels throughout the year to support higher demand in peak seasons.

Current portion of long-term debt increased $8.3 million as of September 26, 2014. The current portion of long-term debt consisted of outstanding borrowings on the Dutch Revolving Credit Facility totaling $8.3 million as of September 26, 2014 compared to no outstanding borrowings as of December 31, 2013.

Critical Accounting Policies

We prepare our consolidated financial statements in accordance with U.S. generally accepted accounting principles. In order to apply these principles, management must make judgments, assumptions and estimates based on the best available information at the time. Management bases these estimates on historical experience and on various other assumptions that are believed to be reasonable under the circumstances. Actual results may differ from these estimates under different assumptions or conditions. For the three months ended September 26, 2014, there were no significant changes to our critical accounting policies and estimates from those disclosed in the section “Management’s Discussion and Analysis of Financial Condition and Results of Operations” in our Annual Report on Form 10-K for the year ended December 31, 2013.

Off-Balance Sheet Arrangements

We had no off-balance sheet arrangements as of September 26, 2014.

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Item 3. Quantitative and Qualitative Disclosures About Market Risk

We are exposed to market risk from changes in currency exchange rates (primarily the euro and British pound sterling), interest rates and commodity prices (primarily aluminum and steel). The Company has entered into forward contracts to buy or sell a quantity of currency at a predetermined price or quantity to mitigate uncertainty and volatility, and cover underlying exposure to certain payments in currencies other than the functional currency.

Foreign Currency Exchange Risk

Approximately 30.5% of our net sales for the nine months ended September 26, 2014 originated in Europe. Although our sales outside the United States are subject to exchange rate fluctuations, we do not use derivatives to manage our foreign currency exchange risks resulting from foreign sales. Changes in foreign exchange rates affect other income recorded in relation to translation gains and losses on intercompany obligations denominated in a foreign currency.

Interest Rate Risk

We manage interest rate risk through the use of fixed rate debt and may in the future utilize interest rate swap contracts. We have fixed rate debt from our Notes and our Senior Unsecured Loan Facility. Our floating rate exposure is related to our ABL and Dutch Revolving Credit Facilities, which are tied to changes in the LIBOR and Euribor rates, respectively.

We had no interest rate swap contracts outstanding during the nine months ended September 26, 2014 or September 27, 2013.

Commodity Price Risk

From time to time we enter into contracts for the purchase of aluminum and steel at market values in an attempt to assure a margin on specific customer orders. We may also choose to commit to purchase a specific quantity of aluminum over a specified time period at a fixed price, exposing us to the difference between the fixed price and the market price of aluminum during that time period. We do not use hedges to manage our long-term risks relating to market prices of steel and aluminum raw materials because we are generally able to pass on changes in market prices to customers.

Item 4.  Controls and Procedures

Disclosure Controls and Procedures

The Company under the supervision and with the participation of the Company’s management, including the President (its principal executive officer) and the Chief Financial Officer (its principal financial officer), evaluated the effectiveness of the design and operation of the Company’s disclosure controls and procedures (as defined in Rules 13a-15(e) and 15d- 15(e) of the Securities Exchange Act of 1934, as amended) as of the end of the period covered by this report. Based upon that evaluation, our management, including our President and our Chief Financial Officer, concluded that the Company’s disclosure controls and procedures were effective as of September 26, 2014.

Changes in Internal Control over Financial Reporting

There have been no changes in our internal control over financial reporting during the three months ended September 26, 2014 that have materially affected, or are reasonably likely to materially affect, our internal control over financial reporting.

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Part II. Other Information

Item 1.  Legal Proceedings

From time to time, we are party to various legal proceedings arising in the ordinary course of business. The Company is not currently a party to any legal proceeding the result of which it believes could have a material adverse impact upon its business, financial position or results of operations.

Item 1A.  Risk Factors

In addition to the other information set forth in this report, you should carefully consider the factors discussed in Part I, "Item 1A. Risk Factors" in our Annual Report on Form 10-K for the year ended December 31, 2013, which could materially affect our business, financial condition or future results. The risks described in this report and in our Annual Report on Form 10-K are not the only risks facing our Company. Additional risks and uncertainties not currently known to us or that we currently deem to be immaterial also may materially adversely affect our business, financial condition or future results. There have been no material changes in the risk factors discussed in our Annual Report on Form 10-K for the year ended December 31, 2013.

Item 6.  Exhibits

EXHIBIT INDEX

Number	Exhibit Title
3.1	Euramax Holdings, Inc. Performance Incentive Plan.
3.2	Employment Agreement dated September 14, 2014 between Euramax BV and Jan Timmerman.
31.1	Rule 13a-14(a)/15d-14(a) Certification of Euramax Holdings, Inc.'s President.
31.2	Rule 13a-14(a)/15d-14(a) Certification of Euramax Holding's Inc.’s Chief Financial Officer.
32.1	Certification of the PEO and CFO pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002.
101.INS	XBRL Instance Document
101.SCH	XBRL Taxonomy Extension Schema
101.CAL	XBRL Taxonomy Extension Calculation Linkbase
101.LAB	XBRL Taxonomy Extension Label Linkbase
101.PRE	XBRL Taxonomy Extension Presentation Linkbase
101.DEF	XBRL Taxonomy Extension Definition Linkbase

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SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.

	EURAMAX HOLDINGS, INC.
Date: November 10, 2014	/s/ Mary S. Cullin
	Mary S. Cullin
	Senior Vice President, Chief Financial Officer & Treasurer

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EX-3.1

EXECUTION COPY

EURAMAX HOLDINGS, INC.

PERFORMANCE INCENTIVE PLAN

ADOPTED BY BOARD ON AUGUST 27, 2014

SECTION 1. BONUS PLAN

1.1 Purpose. The purpose of the Euramax Holdings, Inc. Performance Incentive Plan, as amended from time to time (the “Plan”), is to incentivize and align the interests of certain key executives of the Company (as defined below) with the Company’s operational, financial and other business objectives, including the achievement of certain 2014 Consolidated Adjusted EBITDA targets and the positioning of the Company for a successful refinancing event in 2015.

1.2 Effective Date.

July 1, 2014

SECTION 2. DEFINITIONS AND TERMS

2.1 Accounting Terms. Except as otherwise expressly provided or the context otherwise requires, financial and accounting terms are used as defined for purposes of, and shall be determined in accordance with, the Company’s GAAP accounting principles, as from time to time in effect, as applied and reflected in the consolidated financial statements of the Company, prepared in the ordinary course of business.

2.2Specific Terms. The following words and phrases as used herein shall have the following meanings.

“Adjusted Consolidated EBITDA” means the Company’s Consolidated EBITDA, excluding any extraordinary gain or loss and any unusual or non-recurring charges (i.e., severance, relocation costs, one-time compensation charges, costs related to closure of facilities and restructuring charges or reserves).

“Adjusted Consolidated EBITDA Bonus” means the bonus earned as a result of the attainment of the Adjusted Consolidated EBITDA Performance Targets set forth in a Participant’s Participation Agreement.

“Adjusted Consolidated EBITDA Performance Period” means the period commencing on July 1, 2014 and ending on December 31, 2014.

“Adjusted Consolidated EBITDA Performance Targets” means the Adjusted Consolidated EBITDA performance targets as set forth in a Participant’s Participation Agreement.

“Base Salary” means a Participant’s base salary at the annual rate in effect as of (a) the last day of the Adjusted Consolidated EBITDA Performance Period for the Adjusted Consolidated EBITDA Bonus and (b) the date of the occurrence of the Refinancing Transaction for the Refinancing Transaction Bonus.

“Bonus” means the Adjusted Consolidated EBITDA Bonus, the Refinancing Transaction Bonus or both.

“Committee” means the compensation committee of the Company’s Board of Directors.

“Company” means Euramax Holdings, Inc., its subsidiaries, affiliated parties, and any successor, whether by merger, ownership of all or substantially all of its assets, or otherwise.

“Participant” means an employee of the Company who has been selected by the Committee to participate in the Plan and who has entered into a Participation Agreement.

“Participation Agreement” means the agreement between the Company and a Participant evidencing the terms of such Participant’s participation in the Plan.

“Plan” has the meaning set forth in Section 1.1.

“Refinancing Transaction” means the refinancing, replacement, extension or other modification having the effect of refinancing, replacement or extension of the existing (x) 9.5% Senior Secured Notes due 2016 of the Company, (y) indebtedness under the existing senior unsecured credit and guaranty agreement of the Company, dated as of March 3, 2011, as amended, and (z) indebtedness under the existing asset-based revolving credit facility of the Company with Regions Bank.

“Refinancing Transaction Bonus” means the bonus earned due to the occurrence of a Refinancing Transaction.

“Section 409A" shall have the meaning set forth in Section 7.

SECTION 3. ADMINISTRATION OF THE PLAN

3.1 Administration. The Plan shall be administered by the Committee. The Committee shall have the sole authority to select Participants, establish and administer the Adjusted Consolidated EBITDA Performance Targets and, subject to Section 4.5, determine the time, or times, at which and the form and manner in which payments will be made under the Plan and shall otherwise be responsible for the administration of the Plan, in accordance with its terms. The Committee shall have the authority to construe and interpret the Plan (except as otherwise provided herein), may adopt rules and regulations governing the administration of the Plan, and shall exercise all other duties and powers conferred on it by the Plan, or which are incidental or ancillary thereto. All determinations by the Committee shall be final, binding and conclusive on all persons.

3.2 Requisite Action. A majority (but not fewer than two) of the members of the Committee shall constitute a quorum. The vote of a majority of those present at a meeting at which a quorum is present or the unanimous written consent of the Committee shall constitute action by the Committee.

SECTION 4; BONUS PROVISIONS.

4.1Participation Agreement. As a condition to participation in the Plan, each Participant shall enter into a Participation Agreement in substantially the form attached hereto as Exhibit A. The Participation Agreement shall set forth the terms of the Participant’s participation in the Plan including, without limitation, (i) whether the Participant is eligible to receive an Adjusted Consolidated EBITDA Bonus, a Refinancing Transaction Bonus or both and (ii) the Adjusted Consolidated EBITDA Performance Targets for the Adjusted Consolidated EBITDA Performance Period and the Participant’s Adjusted Consolidated EBITDA Bonus potential at various levels of performance relative to the Adjusted Consolidated EBITDA Performance Targets.

4.2 Conditions to Payment of Bonuses. Notwithstanding anything to the contrary provided herein, in order for a Participant to be entitled to (i) any Adjusted Consolidated EBITDA Bonus (A) the minimum Adjusted Consolidated EBITDA Performance Target set forth in the Participation Agreement must be attained and (B) the Participant must remain employed with the Company through the last day of the Adjusted Consolidated EBITDA Performance Period and (ii) the Refinancing Transaction Bonus (A) a Refinancing Transaction must occur on or prior to December 31, 2015 and (B) the Participant must remain employed with the Company through the date of the Refinancing Transaction.

4.3 Changes Resulting From Accounting Changes. If a change occurs in the applicable accounting principles or practices, the determination of any Adjusted Consolidated EBITDA Bonus to be paid under this Plan shall be appropriately adjusted by the Committee in its sole discretion so that the Adjusted Consolidated EBITDA Bonus paid will approximate, as nearly as possible, those that would have been paid if such changes had not occurred.

4.4 Committee Certification. No Participant shall receive any Bonus under the Plan unless the Committee has certified, by resolution or other appropriate action in writing, that the amount thereof has been accurately determined in accordance with the terms, conditions and limits of the Plan and that the terms previously established by the Committee or set forth in the Plan, were in fact satisfied.

4.5 Time of Payment. Subject to Section 4.6, any Bonus earned by a Participant under the Plan shall be paid as follows: (i) the Adjusted Consolidated EBITDA Bonus shall be paid in calendar year 2015 following the completion of the 2014 year-end audit, but no later than May 1, 2015 and (ii) the Refinancing Transaction Bonus shall be paid within 15 days following the consummation of the Refinancing Transaction. Any Bonus shall be paid by check or direct deposit or in property of equal value on such payment date, as determined by the Committee.

4.6 Withholding. The Company shall be entitled to withhold from any payments due to Participant any federal, state or local taxes required to be withheld by the Company under the then applicable provisions of the Internal Revenue Code or state or local laws.

SECTION 5.GENERAL PROVISIONS

5.1 Absence of Liability. No member of the Board of Directors of the Company or the Committee or any officer of the Company shall be liable for any act or inaction hereunder, whether of commission or omission.

5.2 No Funding of Plan. The Company shall not be required to fund or otherwise segregate any cash or any other assets which may at any time be paid to Participants under the Plan. The Plan shall constitute an “unfunded” plan of the Company. The Company shall not, by any provisions of the Plan, be deemed to be a trustee of any property, and any obligations of the Company to any Participant under the Plan shall be those of a debtor and any rights of any Participant or former Participant shall be no greater than those of a general unsecured creditor.

5.3 Non-Transferability of Benefits and Interests. Except as expressly provided by the Committee, no benefit payable under the Plan shall be subject in any manner to anticipation, alienation, sale, transfer, assignment, pledge, encumbrance or charge, and any such attempted action be void and no such benefit shall be in any manner liable for or subject to debts, contracts, liabilities, engagements or torts of any Participant or former Participant. This Section 5.3 shall not apply to an assignment of a contingency or payment due after the death of the Participant to the deceased Participant’s legal representative or beneficiary.

5.4 Rights of Participants. Nothing in this Plan or in any Participation Agreement shall interfere with or limit in any way the right of the Company to terminate any Participant’s employment at any time (with or without cause) or confer upon any Participant any right to continue in the employ of the Company for any period of time or to continue his or her present (or any other) rate of compensation. No employee shall have a right to be selected as a Participant.

5.5 Governing Law. All questions pertaining to the construction, regulation, validity and effect of the provisions of the Plan shall be determined in accordance with the laws of the State of Georgia, without regard to its conflict of laws provisions.

5.6 Non-Exclusivity. The Plan does not limit the authority of the Company, the Board of Directors, or the Committee to grant awards or authorize any other compensation under any other plan or authority, including, without limitation, awards or other compensation based on the same performance targets used under the Plan.

SECTION 6.AMENDMENTS, REVISIONS, SUSPENSION OR TERMINATION OF PLANS

The Plan will be reviewed by the Committee on a periodic basis for revisions and the Committee may from time to time amend, suspend or terminate, in whole or in part, and if suspended or terminated, the Committee may reinstate, any or all of the provisions of the Plan. Notwithstanding the foregoing, no amendment shall be made which would adversely impact awards that have been previously granted under the Plan (except to the extent expressly set forth in this Plan or in the affected Participant’s Participation Agreement). The Plan is not a contract of employment for any period. Employment andtermination of employment are governed by Company policies and procedures and not by the Plan.

SECTION 7.COMPLIANCE WITH CODE SECTION 409A

This Plan is intended to satisfy the requirements of Section 409A of the Internal Revenue Code of 1986, as amended, and the rules and regulations thereunder (“Section 409A”), to the extent applicable. All terms used in this Plan shall be interpreted to the maximum extent possible to satisfy Section 409A. Notwithstanding anything herein to the contrary, the Company may, in its sole discretion and without the consent of any Participant, amend the Plan to add, alter or remove any provision that the Committee deems necessary, appropriate or advisable to comply with Section 409A.

EURAMAX HOLDINGS, INC.

By: /s/ Hugh E. Sawyer

Name: Hugh E. Sawyer

Title: President

PARTICIPATION AGREEMENTpursuant to theEURAMAX HOLDINGS, INC.
PERFORMANCE INCENTIVE PLAN

This Participation Agreement (this “Agreement”) is made as of this ___ day of ______________ 2014 between Euramax Holdings, Inc., a Delaware corporation (the “Company”), and _________________ (the “Participant”). Capitalized terms used and not defined herein shall have the meaning given to such terms in the Plan (as defined below).

WHEREAS, the Company has adopted and maintains the Euramax Holdings, Inc. Performance Incentive Plan (the “Plan”) to assist the Company in retaining, motivating and rewarding eligible individuals; and

WHEREAS, the Plan provides for the grant to Participants of rights to contingent payments pursuant to the Plan as provided therein.

NOW, THEREFORE, in consideration of the promises and the mutual covenants hereinafter set forth, the parties hereto hereby agree as follows:

1.Participation. Pursuant to, and subject to, the terms and conditions set forth herein and in the Plan, the Participant is hereby eligible to receive an Adjusted Consolidated EBITDA Bonus and a Refinancing Transaction Bonus in accordance with and subject to the terms of the Plan and this Agreement.

(a)The Participant’s Adjusted Consolidated EBITDA Bonus shall be equal to the product of (i) (A) the Participant’s Base Salary multiplied by (B) the percentage set forth in the Percent Approved column on Appendix A hereto that corresponds to the Adjusted Consolidated EBITDA achieved with respect to the Adjusted Consolidated EBITDA Performance Period, as certified by the Committee in accordance with Section 4.4 of the Plan, multiplied by (ii) a fraction, the numerator of which is the number of days the Participant was employed by the Company in the position set forth under Participant’s name on the signature page hereto during Fiscal Year 2014 and the denominator of which is 365.

(b)The Participant’s Refinancing Transaction Bonus shall be in an amount equal to 50% of the Participant’s Base Salary.

2.Incorporation of Plan. All terms, conditions and restrictions of the Plan are incorporated herein and made part hereof as if stated herein. If there is any conflict between the terms and conditions of the Plan and this Agreement, the terms and conditions of the Plan, as interpreted by the Committee, shall govern. The Participant hereby acknowledges receipt of a true copy of the Plan and that the Participant has read the Plan carefully and fully understands its content. The Participant hereby acknowledges that all decisions, determinations and interpretations of the Committee in respect of the Plan and this Agreement shall be final, binding and conclusive on the Company and the Participant.

3.Delays or Omissions. No delay or failure to exercise any right, power or remedy accruing to any party hereto upon any breach or default of any party under the Plan or this Agreement, shall impair any such right, power or remedy of such party nor shall it be construed to be a waiver of any such breach or default, or an acquiescence therein, or of or in any similar breach or default thereafter occurring nor shall any waiver of any single breach or default be deemed a waiver of any other breach or default theretofore or thereafter occurring. Any waiver, permit, consent or approval of any kind or character on the part of any party of any breach or default under this Agreement, or any waiver on the part of any party of any provisions or conditions

of this Agreement, shall be in writing and shall be effective only to the extent specifically set forth in such writing.

4.Confidentiality of Agreement. The terms of this Agreement are strictly confidential and, other than with respect to information required to be disclosed by applicable law, the Participant agrees not to disclose the existence of this Agreement or the terms of this Agreement to any person at any time; provided the Participant may disclose this Agreement and/or any of its terms to the Participant’s immediate family, financial advisors and attorneys, so long as the Participant instructs every such person to whom the Participant makes such disclosure not to disclose the terms of this Agreement further.

5.Entire Agreement. This Agreement and the Plan contain the entire understanding of the parties hereto with respect to the subject matter hereof and thereof. There are no restrictions, agreements, promises, representations, warranties, covenants or undertakings with respect to the subject matter hereof other than those expressly set forth herein and in the Plan. This Agreement, including without limitation the Plan, supersedes all prior agreements and understandings between the parties hereto with respect to the subject matter hereof and the subject matter set forth in the Plan. Except as may be specifically provided for herein, this Agreement may not be amended in any respect except by a writing signed by both parties hereto.

6.Acknowledgement. The Participant acknowledges and agrees that (i) his or her rights under this Agreement are contractual in nature and nothing contained herein shall create any equity interest in the Company or any of its affiliates and (ii) neither the Company nor any of its officers, directors or affiliates shall owe any fiduciary duty of any kind to the Participant by virtue of the Plan.

7.Counterparts. This Agreement may be executed in counterparts, each of which shall be deemed an original, but both of which shall constitute one and the same instrument.

8.Governing Law. This Agreement and the rights and obligations of all Persons claiming hereunder shall be construed and determined in accordance with the laws of the State ofGeorgia without giving effect to the choice of law principles thereof.

EXECUTION COPY

IN WITNESS WHEREOF, the Company has caused this Agreement to be duly executed by its duly authorized officer and the Participant has hereunto signed this Agreement on his or her own behalf, thereby representing that he or she has carefully read and understands this Agreement and the Plan as of the day and year first written above.

EURAMAX HOLDINGS, INC.

/s/ Hugh E. Sawyer

Name: Hugh E. Sawyer

Title: President

[INSERT NAME]

Position:

[Signature Page to Participation Agreement]

EXECUTION COPY

Exhibit A

EX-3.2

EMPLOYMENT CONTRACT

The undersigned:

1. The private company with limited liability to Dutch law EURAMAX B.V., with its registered office at Roermond, with its principal place of business at (6045 JG) Roermond at the Industrieweg 6, duly represented in this matter by its CEO, Mr. H. Sawyer, hereinafter referred to as “the Employer”;

and

2. Mr. J. (Jan) Timmerman, residing at Kleidonk 14 (6641 LN) Beuningen, the Netherlands, hereinafter referred to as “Employee”.

Agree the following:

Article 1 Position and duration of the employment contract

1.1 With reference to your appointment as Executive Employee, you will fulfil the position of Managing Director and President with Euramax BV. The Employer shall engage the Employee as specified in the attached letter of appointment which forms part of this agreement. The Employee shall be stationed at the location specified in the aforementioned letter, which is accepted by the Employee.

1.2. The Employer with her office at Roermond shall engage the Employee as of July 1^st 2014 for an indefinite period of time. Retirement will start no later than the day the employee becomes entitled to AOW benefit.

Article 2 Probation

Not applicable

Article 3 Salary

The gross annual salary as of July 1^st 2014 is set at € 270.012 gross (including, but not limited to, holiday allowance etc.). The gross-salary will be paid in 12 equal monthly installments of € 22.501 gross to be paid before the end of each month at the latest.

Article 4 Annual incentive

Apart from the salary the Employee is eligible for an annual incentive (EICP bonus plan), related to the position, the gross on target amount of which is currently 35% of Employee’s gross salary per annum (see also the terms of employment for executives). These terms shall be deemed an integral part of the employment contract.

The bonus opportunity amounts to a percentage of the gross basic annual salary minus the 8% holiday allowance which in included in the gross annual salary of the executive (gross annual basic salary divided by 12,96 times 12).

The for the executive applicable percentage is 35% and will be mentioned in a letter under separate cover and is confirmed in this employment contract. The actual bonus payment depends on the extent to which previously set targets were met in the applicable accounting year, as evaluated by the Board of Management.

The executive will be informed about the content of this Bonus Plan separately via our mother company in the USA.

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Article 5 Long-term incentives

There are several Long Term Incentive Plans, consisting of PhantomStock Option Plans and a Restricted Stock Unit Plan . The Board of Management, with the approval of the Supervisory Board and within the Company’s General Meeting of Shareholders, may yearly decide to adopt a long-term incentive plan on an annual basis. It is up to the discretion of your management and your performance, whether the Employee will be proposed for a grant. The executive will be informed about the applicable Plan under separate cover.

According to the former contract it has been decided that the Managing Director & President was granted 500 shares of restricted stock units of Euramax Holdings, Inc. pursuant to the 2009 Executive Incentive Plan (the ‘RSU plan’). The aforementioned grant and the restricted shares itself are subject to the terms and conditions of the RSU Plan and the Restricted Stock Agreement, which the employee was entered into by the commencement of the Labor Contract with Euramax Coated Products B.V.

Article 6 Vacation

6.1 The Employee is entitled to 25 day vacation per year on the basis of a full working week. Of the 25 total, 20 days are legal minimum as stipulated by law, 5 days are extra legal days. If the employment term lasts less than a year, and/or the employment time is not a full working week, then the number of vacation days is reduced proportionally.

6.2 Vacation days will be taken in mutually agreement between Employer en Employee. Applications for vacation days or days off should be made at least 14 days in advance.

Article 7 Pension

The amended appointment implies change to your participation in the PME (Metalektro) retirement plan. As from July 1st your pension rights will be insured with Delta Lloyd. The extended pension scheme (also with Delta Lloyd) will remain unchanged. This in accordance with the pension rights as described in the arrangement for Executives. The previously acquired claims to retirement benefits will remain unchanged.    

Article 8 Benefits

You are entitled to the benefits as described in the terms of employment for Executives; this employment contract and the letter of appointment.

Article 9 Duties

The Employee shall dedicate his full business time and attention to rendering such operational, sales, administrative, financial and other executive and managerial services to the Company which are consistent with the Employee’s position as Managing Director & President.

The Employee shall perform his duties with due observance of the Company’s articles of association and the instructions of its ultimate shareholder, Euramax International Inc. (‘Euramax International’). The Employee will report directly to Euramax International’s Chief Executive Officer (‘CEO’).

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Article 10 Termination

10.1 Upon notice of termination of the present employment contract before the moment as referred to in article 1 has been reached, the company will observe a notice period of 6 months and the Employee will observe a notice period of 3 months. Notice will be given as per end of the month.

10.2 In any case this employment contract will end automatically by operation of law, without notice of termination or any announcement being required on the day that the Employee becomes eligible for state pension benefits (AOW).        

Article 11 General Terms of Employment Executives

11.1 The General Terms of Employment Executives accompanying this contract shall be deemed part of the contract. The Employee declares that he has received a copy of these General Terms of Employment Executives and has duly noted the provisions set forth therein.

11.2 Changes in or additions to these General Terms of Employment Executives, as well as newly Issued Terms of Employment, shall be deemed part of this contract and shall apply from the date they become effective.

11.3 The Employee shall be informed in good time of any changes of the kind referred to in paragraph2.

Article 12 Secrecy/Disclosure of Information

12.1 The Employee shall give an undertaking to the Employer not to communicate in any way to third parties, neither during this contract with the Employer nor after its termination, any information having come to his notice concerning or relating to the affairs both of the Employer and of Employer's affiliates which he knows or should know to be secret, unless with the prior written authorization of the Employer or of the affiliate in question.Nor shall the Employee accept or stipulate any financial or other benefits from third parties, either directly of indirectly.

12.2 The Employee shall not privately possess, show, or make available to third parties any files, business records, correspondence, drawings, calculations, and other documents of any nature whatsoever relating to the above affairs, or any copies, transcripts, or notes made of such documents, unless with the prior written authorization of the Employer or of the affiliate in question.

12.3 All such correspondence, notes, drawings, calculations, etc., even if made on the Employee's own paper or addressed to him personally, shall forthwith be surrendered to the Employer upon the first demand but in any event at the termination of the employment. In case of termination of the employment all company property (such as data carriers) should be handed over to the Employer upon the first demand.

12.4 In the framework of the protection of privacy, the Employee shall not use any of the data from the personnel files which, professionally or otherwise, have come to his notice, in ways not compatible with the purposes for which the files were created or not strictly related to the proper exercise of his duties, nor shall he disclose any of these data to persons not authorized to have access to this information.

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12.5 The Employee declares that he knows that data concerning him are stored in the automated personnel and information system(s) used by the Employer. The Employer engages not in any way to furnish third parties with any data relating to the Employee, neither during his employment nor thereafter, without Employee's express consent, unless and insofar as this ensues from the purposes for which the files were created or from a legal obligation to do so.

Article 13 Non-competition Clause

During this Employment Agreement, as well as during a period of twelve (12) months after termination of this Employment Agreement, the Employee may not carry out any activities within The Netherlands in any way and in any form, either on the basis of an employment agreement, or in her own name, or by means of a collaboration with other natural persons or legal persons, which activities are equal, similar or related to the activities of the Employer or any affiliated companies. This includes (financial) participation interest in and/or (in)direct control of companies that are equal, similar, or related to the competitive activities of the Employer or any affiliated companies. The stipulations set forth in this Article will remain valid even in the event that Employee's job description has changed.

Article 14 Ancillary Activities

The Employee may not perform any ancillary activities, paid or unpaid, in whatever form or manner, without prior written approval. This prohibition includes occupation of positions as member of a supervisory board or management board.

Article 15 Work of Exceptional Merit

15.1 If the Employee should produce work of exceptional merit which is to be regarded as the fruit of or as resulting from his employment with the Employer and which may give rise, in the Netherlands or elsewhere, to the creation of rights of industrial and intellectual ownership, which, in the sense of this agreement, in any event covers inventions, products of industrial design, computer programs, and the like, the Employer shall have a title to such work.

15.2 The Employee is obliged to transfer any rights relating to the aforementioned activities to the Employer in the shortest possible term, both in The Netherlands and elsewhere, if and in so far as these rights do not accrue to the Employer by virtue of the law and/or this Employment Agreement.

15.3 Even after the Employment Agreement has been terminated, the Employee is still obliged to co-operate in every way with the Employer with regard to the establishment, disposal, and enforcement of any rights belonging to and/or transferred within the meaning of this Article 14.

15.4 When he has produced such work, the Employee shall forthwith notify the Employer thereof and undertake all actions which the Employer may require of him to establish, manage, and maintain the rights referred to in this article.

15.5 If a patent application is filed in respect of the work, the Employer shall take steps to ensure that the Employee's name is recorded in the patent concerned - if the Employee should desire so.

15.6 All expenses arising from the above obligations of the Employee shall be for Employer's account.

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15.7 If the Employer decides to exercise his title to the work, the Employee shall be entitled, insofar as he cannot be deemed to receive adequate compensation therefore in his salary, in his salary prospects, or in a special supplementary payment, to a fair bonus, commensurate with the importance of the work in cash terms and the conditions under which the work was done.

Article 16 Additional Functions

16.1 The Employee may not perform any ancillary activities, paid or unpaid, in whatever form or manner, without prior written approval. This prohibition includes occupation of positions as member of a supervisory board or management board. During the term of employment the Employee will not fulfill any additional positions outside the performance of his employment with Employer or carry out any additional tasks or duties elsewhere, either for a fee or not, without the prior written approval of the Employer, and at the discretion of the Employer. Failure to comply with the obligations of this Article 15 can be regarded as immediate grounds for dismissal by the Employer, and Employer may, in its discretion, employ the penalty set forth in Article 16 of this Employment Agreement.

16.2 At the written and substantiated request of the Employee, the Employer may grant general or specific approval to deviate from the stipulations of this Article 15. The Employer may attach certain conditions to the approval in its discretion.

Article 17 Penalty Clause

Contrary to article 7:650 paragraph 6 of the Dutch Civil Code, the Employee will, in the event of any violation of the stipulations in Articles 12,13, 14, and 15 of this Employment Agreement be accountable for an immediately payable penalty to the benefit of the Employer of 20.000.00 Euros in one payment per violation, increased by an amount of 5.000.00 Euros for every day that the violation continues, without prejudice to the other rights of the Employer by virtue of the law or this Employment Agreement, such as the right to fulfilment of a violated stipulation or to demand an injunction or, instead of this penalty, compensation, as well as to terminate this Employment Agreement, if it is still in existence.

Article 18 Place of Residence

If the Employee wishes to live beyond normal commuting distance from his place of work he shall first obtain Employer's approval. Such approval shall not be withheld unless the situation is prejudicial to the proper performance of the Employee's duties.

Article 19 Mobility

19.1 Employment with the Employer may involve the Employee's assignment or transfer to an affiliated company and/or his relocation.

19.2 Employment by the Employer may involve the Employee's assignment to a different position, with or without his relocation.

19.3 Any change in the Employee's position as set forth in paragraphs 1 and 2 shall be made only after previous consultation between the Employer and the Employee.

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Article 20 Insurance Policies

Subject to the acceptance of the Employee under normal premium conditions by an insurer designated by the Company, the Company shall take both a travel insurance and a director’s liability insurance (bestuurder aansprakelijkheidsverzekering) for the Employee. The cost of the premium for this insurance shall be borne by the Company.

Article 21 Intellectual Property

21.1 All intellectual property rights pertaining to any creation, discovery or invention by the Employee, whether or not made by him independently, connected to the activities of either the Company or an enterprise affiliated therewith shall accrue to the Company, irrespective of whether the creation, discovery or invention took place during or outside working hours and irrespective of whether the Employee’s position either directly or indirectly entails creative, exploratory or inventive work, including the creation of intellectual property. This provision shall also apply to creations, discoveries and inventions as described above made within a period of one year following the termination of this employment agreement.

21.2 Unless otherwise provided for by law, the Employee shall not acquire any right to be identified as the creator, discoverer or inventor of any such intellectual property.

21.3 The Employee shall immediately report all creations, discoveries and inventions to the Company, and shall do everything necessary to make possible the acquisition by, or transfer to, the Company of any intellectual property rights in that regard.

21.4 The Employee shall do whatever may be required on his part to obtain the maximum possible protection of such intellectual property. Where the protection of intellectual property requires an application, an act of filing or a similar act, this shall be done solely in the name of the Company.

21.5 The Employee acknowledges that his salary includes remuneration for all creations, discoveries and inventions made, solely or jointly, by him, including the creation of intellectual property.

Article 22 Non solicitation

During the term of this employment agreement as well as for a period of two (2) years after the termination of this employment agreement, the Employee shall refrain from, either directly or indirectly:

I. Engaging individuals who are on the payroll of the Company or any enterprise affiliated with the Company or who were so during the Employee’s employment; and/or

II. Soliciting or entering into commercial relationships with any person or entity which is a client of the Company or any enterprise affiliated with the company at the date on which the employment agreement terminates, or was a client during the three year period prior to that date even if such contact is initiated by these customers or relations.

Article 23 Golden Parachute

If at any time the Company (or the relevant corporate body of the Company, as the case may be) terminates this employment agreement, the Employee shall be entitled to a lump sum compensation of an amount equal to the product of the Cantonal Court Formula (Kantonrechtersformule) with a correction factor of C=I, but with a minimum amount of (a) the annual total salary, as referred to in Article 3, in the applicable year; and (b) the average bonus, as referred to in Articles 4 and 5, for the last 3 calendar years preceding the termination of the employment agreement, provided that:

I. Said compensation may not exceed the income to which the Employee would have been entitled if the Employee had remained in the employment of the Company from the date of termination until reaching the age of retirement age as provided in Article 1.2; and

II. If a court awards any compensation to the Employee as a result of proceedings on the basis of Articles 7:681 or 7:685 of the Dutch Civil Code, the amount of such award shall be deducted from the amount of compensation to which the Employee is entitled under this provision.

The Employee shall not be entitled to the compensation as provided for under this provision if:

I. The Employee terminates this employment agreement (resigns) on his own accord;

II. The employment agreement is terminated by operation of law as provided for under Article 1.1;

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III. The employment agreement is terminated on grounds for which the Employee is to blame (te verwijten) as well as on grounds which qualify as an urgent cause (dringende reden) as set out in Article 7:678 of the Dutch Civil Code.

Article 24 Payment

Payment of the amounts due by the Employer to the Employee shall be made by remittance to a bank or postal giro account indicated by the Employee or in some other way specified by the Employer.

Article 25 DefaultObligations after termination of employment

25.1 When and if the Employee within four weeks after the employment has ended becomes sick (due to disability is unable to carry out his duties completely or in part) , he is obliged to notify the Employer immediately in writing.

25.2 Both the Employee referred to in paragraph 1 or the Employee who is ill (due to disability is unable to carry out his duties completely or in part) at the time when he is no longer employed by Employer, is required to comply strictly the rules for illness, - including re-integration requirements, as well as the instructions of the company doctor.

25.3 The Employee is obliged to comply strictly to all obligations under the sickness law.

25.4 The Employee is obliged to do nothing that hinders recovery from the illness and/or disability. And has to do everything that might speed up a soon recovery; including by or on behalf of the Employer offered reintegration efforts.

25.5 In case of violation of the above, the (former)Employee forfeits - for the benefit of the Employer- each time a immediately payable fine, without required prior warning or notice of € 1000,-- payable in whole. This amount will be increased with € 250 - per day for each day that the violation continues. Without prejudice to the right of the Employer to claim fulfillment of the above and / or indemnification.

Article 26 ConcludingStipulations

26.1 This Employment Agreement replaces all previous oral or written agreements between the parties. Any translation of this Employment Agreement into other languages will be for reference only and will not be binding.

26.2 The Employer has the right to change the terms and conditions of employment as set forth in this Employment Agreement pursuant to, without limitation, article 7:613 of the Dutch Civil Code.

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Article 27 Applicable law and competent court

The parties declare that Dutch law applies to this contract. The legally competent Dutch court is exclusively authorized to take cognizance of any disputes between the parties which result from the interpretation or execution of this Employment Agreement.

Thus agreed and signed in duplicate at Roermond on September 24 ,2014

H. Sawyer	S. Reddy
President	Chief Administrative Officer,
Euramax International, Inc.	General Counsel & Corporate Secretary
	Euramax International, Inc
J. Timmerman
Managing Director and President
Euramax International
Attachments:
Letter of appointment (with:
1. Salary calculation
2. Holiday & leave (atv) calculation
Terms of employment for executives in the Netherlands (with:
3. overview personnel manual ECP
4. information Delta Lloyd disability insurances
5. Information Delta Lloyd pension insurance (to be send under separate cover)

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EX-31.1

Exhibit 31.1

CERTIFICATION PURSUANT TO SECTION 302 OF THE SARBANES-OXLEY ACT OF 2002

I, Hugh E. Sawyer, President, certify that:

1. I have reviewed this Quarterly Report on Form 10-Q for the period ended September 26, 2014 of Euramax Holdings, Inc.;

2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

3. Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations, and cash flows of the registrant as of, and for, the periods presented in this report;

4. The registrant’s other certifying officer and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the registrant and have:

(a) Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

(b) Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles; and

(c) Evaluated the effectiveness of the registrant’s disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and

(d) Disclosed in this report any change in the registrant’s internal control over financial reporting that occurred during the registrant’s most recent fiscal quarter that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting; and

5. The registrant’s other certifying officer and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant’s auditors and the audit committee of the board of directors:

(a) All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant’s ability to record, process, summarize and report financial information; and

(b) Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant’s internal control over financial reporting.

Date:	November 10, 2014	/s/ Hugh E. Sawyer
		Hugh E. Sawyer
		President (Principal Executive Officer)

EX-31.2

Exhibit 31.2

CERTIFICATION PURSUANT TO SECTION 302 OF THE SARBANES-OXLEY ACT OF 2002

I, Mary S. Cullin, Senior Vice President, Chief Financial Officer & Treasurer, certify that:

1. I have reviewed this Quarterly Report on Form 10-Q for the period ended September 26, 2014 of Euramax Holdings, Inc.;

2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

3. Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations, and cash flows of the registrant as of, and for, the periods presented in this report;

4. The registrant’s other certifying officer and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the registrant and have:

(a) Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

(b) Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles; and

(c) Evaluated the effectiveness of the registrant’s disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and

(d) Disclosed in this report any change in the registrant’s internal control over financial reporting that occurred during the registrant’s most recent fiscal quarter that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting; and

5. The registrant’s other certifying officer and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant’s auditors and the audit committee of the board of directors:

(a) All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant’s ability to record, process, summarize and report financial information; and

(b) Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant’s internal control over financial reporting.

Date: November 10, 2014	/s/ Mary S. Cullin
	Mary S. Cullin
	Senior Vice President, Chief Financial Officer & Treasurer

EX-32.1

Exhibit 32.1

CERTIFICATION OF CEO AND CFO

PURSUANT TO 18 U.S.C. SECTION 1350

AS ADOPTED PURSUANT TO

SECTION 906 OF THE SARBANES-OXLEY ACT OF 2002

In connection with the quarterly report of Euramax Holdings, Inc., (the “Company”), on Form 10-Q for the period ended September 26, 2014, (the “Report”), I, Hugh E. Sawyer, President, and I, Mary S. Cullin, Senior Vice President, Chief Financial Officer & Treasurer, certify pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002, that, to my knowledge:

1. the Report fully complies, in all material respects, with the requirements of Section 13(a) or 15(d) of the Securities Exchange Act of 1934; and

2. the information contained in the Report fairly presents, in all material respects, the financial condition and results of operations of the Company.

Date: November 10, 2014	/s/ Hugh E. Sawyer
	Hugh E. Sawyer
	President (Principal Executive Officer)

Date: November 10, 2014	/s/ Mary S. Cullin
	Mary S. Cullin
	Senior Vice President, Chief Financial Officer & Treasurer

XML

Other Operating Charges (Details) (USD $)	3 Months Ended		9 Months Ended
	Sep. 26, 2014	Sep. 27, 2013	Sep. 26, 2014	Sep. 27, 2013
Other Operating Costs [Line Items]
Unusual or infrequent item operating	$ 1,051,000	$ 1,455,000	$ 4,357,000	$ 5,355,000
Other operating charges
Other Operating Costs [Line Items]
Unusual or infrequent item operating	1,051,000	1,455,000	4,357,000	5,355,000
Other severance and nonrecurring costs	500,000	500,000		1,300,000
Other operating charges | North America
Other Operating Costs [Line Items]
Other severance and nonrecurring costs	1,000,000
Other operating charges | United States
Other Operating Costs [Line Items]
Other severance and nonrecurring costs			1,200,000
U.S. Residential Products | Other operating charges
Other Operating Costs [Line Items]
Unusual or infrequent item operating	83,000	57,000	591,000	214,000
U.S. Residential Products | Other operating charges | United States
Other Operating Costs [Line Items]
Other severance and nonrecurring costs			400,000
U.S. Commercial Products | Other operating charges
Other Operating Costs [Line Items]
Unusual or infrequent item operating	177,000	69,000	646,000	364,000
U.S. Commercial Products | Other operating charges | United States
Other Operating Costs [Line Items]
Other severance and nonrecurring costs			400,000
European Roll Coated Aluminum | Other operating charges
Other Operating Costs [Line Items]
Unusual or infrequent item operating	26,000	305,000	26,000	495,000
European Engineered Products | Other operating charges
Other Operating Costs [Line Items]
Unusual or infrequent item operating	148,000	995,000	1,218,000	4,039,000
Restructuring and related cost, incurred cost			1,300,000	2,000,000
European Engineered Products | Other operating charges | Fair Value, Inputs, Level 1
Other Operating Costs [Line Items]
Asset impairment charges			1,600,000
European Engineered Products | Other operating charges | France
Other Operating Costs [Line Items]
Other severance and nonrecurring costs		200,000	800,000	500,000
European Engineered Products | Other operating charges | U.K.
Other Operating Costs [Line Items]
Other severance and nonrecurring costs		800,000	500,000
European Engineered Products | Other operating charges | U.K. | Fair Value, Inputs, Level 1
Other Operating Costs [Line Items]
Asset impairment charges				1,600,000
Other Non-Allocated | Other operating charges
Other Operating Costs [Line Items]
Unusual or infrequent item operating	617,000	29,000	1,876,000	243,000
Other severance and nonrecurring costs			1,900,000
Professional and contract services expense	600,000
Other Non-Allocated | Other operating charges | United States
Other Operating Costs [Line Items]
Other severance and nonrecurring costs			$ 200,000

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Indebtedness Dutch Revolving Credit Facility (Details) In Millions, unless otherwise specified		0 Months Ended		0 Months Ended
	Sep. 26, 2014	Feb. 28, 2012 Line of credit Dutch Revolving Credit Facility	Sep. 26, 2014 Line of credit Dutch Revolving Credit Facility USD ($)	Feb. 28, 2012 Line of credit Dutch Revolving Credit Facility Euribor Rate	Sep. 26, 2014 Line of credit Dutch Revolving Credit Facility Euro Member Countries, Euro USD ($)	Feb. 28, 2012 Line of credit Dutch Revolving Credit Facility Euro Member Countries, Euro EUR (€)
Line of Credit Facility [Line Items]
Subsidiary ownership percentage	100.00%
Line of credit facility, maximum borrowing capacity						€ 15
Debt instrument, basis spread on variable rate				2.00%
Line of credit facility, commitment fee percentage		0.35%
Debt, weighted average interest rate			2.315%
Line of credit facility, remaining borrowing capacity			$ 10.8		$ 8.5

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Segment Information (Tables)

9 Months Ended

Sep. 26, 2014

Segment Reporting [Abstract]

Schedule of Segment Reporting Information, by Segment

The following table presents information about reported segments for the three months ended September 26, 2014:

	U.S. Residential Products		U.S. Commercial Products		European Roll Coated Aluminum		European Engineered Products		Other Non- Allocated			Eliminations			Consolidated
Three months ended September 26, 2014	(in thousands)
Net sales:
Third party	$	94,126	$	85,633	$	44,710	$	15,473	$	—		$	—		$	239,942
Intersegment	218		40		176		—		—			(434		)	—
Total net sales	$	94,344	$	85,673	$	44,886	$	15,473	$	—		$	(434	)	$	239,942
Income (loss) from operations	$	9,660	$	2,213	$	1,979	$	325	$	(3,001	)	$	—		$	11,176
Depreciation and amortization	$	2,790	$	2,707	$	2,299	$	398	$	(52	)	$	—		$	8,142
Capital expenditures	$	301	$	641	$	415	$	248	$	667		$	—		$	2,272

The following table presents information about reported segments for the three months ended September 27, 2013:

	U.S. Residential Products		U.S. Commercial Products		European Roll Coated Aluminum		European Engineered Products			Other Non- Allocated			Eliminations			Consolidated
Three months ended September 27, 2013	(in thousands)
Net sales:
Third party	$	87,518	$	80,717	$	45,660	$	13,940		$	—		$	—		$	227,835
Intersegment	188		58		87		—			—			(333		)	—
Total net sales	$	87,706	$	80,775	$	45,747	$	13,940		$	—		$	(333	)	$	227,835
Income (loss) from operations	$	9,281	$	2,251	$	1,782	$	(1,612	)	$	(3,015	)	$	—		$	8,687
Depreciation and amortization	$	2,891	$	2,628	$	2,435	$	401		$	159		$	—		$	8,514
Capital expenditures	$	873	$	361	$	717	$	180		$	266		$	—		$	2,397

The following table presents information about reported segments for the nine months ended September 26, 2014:

	U.S. Residential Products		U.S. Commercial Products			European Roll Coated Aluminum		European Engineered Products			Other Non- Allocated			Eliminations			Consolidated
Nine months ended September 26, 2014	(in thousands)
Net sales:
Third party	$	230,235	$	216,699		$	146,258	$	49,644		$	—		$	—		$	642,836
Intersegment	614		100			472		—			—			(1,186		)	—
Total net sales	$	230,849	$	216,799		$	146,730	$	49,644		$	—		$	(1,186	)	$	642,836
Income (loss) from operations	$	17,938	$	(1,003	)	$	9,297	$	(619	)	$	(9,316	)	$	—		$	16,297
Depreciation and amortization	$	8,246	$	7,564		$	7,010	$	1,261		$	514		$	—		$	24,595
Capital expenditures	$	961	$	1,344		$	1,220	$	730		$	978		$	—		$	5,233

The following table presents information about reported segments for the nine months ended September 27, 2013:

	U.S. Residential Products		U.S. Commercial Products			European Roll Coated Aluminum		European Engineered Products			Other Non- Allocated			Eliminations			Consolidated
Nine months ended September 27, 2013	(in thousands)
Net sales:
Third party	$	226,203	$	209,217		$	145,238	$	49,583		$	—		$	—		$	630,241
Intersegment	522		356			192		—			—			(1,070		)	—
Total net sales	$	226,725	$	209,573		$	145,430	$	49,583		$	—		$	(1,070	)	$	630,241
Income (loss) from operations	$	18,857	$	(1,830	)	$	7,422	$	(5,144	)	$	(8,166	)	$	—		$	11,139
Depreciation and amortization	$	8,721	$	7,866		$	7,149	$	1,397		$	424		$	—		$	25,557
Capital expenditures	$	2,076	$	1,367		$	2,527	$	396		$	989		$	—		$	7,355

Revenue from External Customers by Market

It is impractical for the Company to provide revenues from external customers by groups of similar products. Accordingly, the following table reflects revenues from external customers by markets for the periods indicated:

		Three months ended				Nine months ended
Customers/Markets	Primary Products	September 26, 2014		September 27, 2013		September 26, 2014		September 27, 2013
		(in thousands)
Home Improvement Retailers	Rain carrying systems, metal panels, roofing accessories, windows, doors and shower enclosures	$	54,934	$	57,449	$	135,000	$	145,995
Rural Contractors	Steel and aluminum roofing and siding	46,974		44,029		103,001		97,932
Original Equipment Manufacturers (“OEMs”)	Painted aluminum sheet and coil; fabricated painted aluminum, laminated and fiberglass panels; windows and roofing; and composite building panels	46,033		45,474		158,330		149,791
Industrial and Architectural Contractors	Metal panels and siding and roofing accessories	38,168		37,926		110,410		112,721
Distributors	Metal coils, rain carrying systems and roofing accessories	31,043		25,096		73,296		67,121
Home Improvement Contractors	Vinyl replacement windows; metal coils, rain carrying systems; metal roofing and insulated roofing panels; shower, patio and entrance doors; and awnings	13,918		11,546		37,275		31,971
Manufactured Housing	Steel siding and trim components	8,872		6,315		25,524		24,710
		$	239,942	$	227,835	$	642,836	$	630,241

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Supplemental Guarantor Condensed Financial Information - Consolidated Balance Sheets (Details) (USD $) In Thousands, unless otherwise specified	Sep. 26, 2014	Dec. 31, 2013	Sep. 27, 2013	Dec. 31, 2012
Condensed Financial Statements, Captions [Line Items]
Subsidiary ownership percentage	100.00%
ASSETS
Cash and cash equivalents	$ 3,235	$ 8,977	$ 9,460	$ 10,024
Accounts receivable, less allowance for doubtful accounts	111,167	73,996
Inventories, net	120,178	89,760
Income taxes receivable	542	982
Deferred income taxes	575	580
Other current assets	8,120	7,008
Total current assets	243,817	181,303
Property, plant and equipment, net	116,351	130,114
Amounts due from affiliates	0	0
Goodwill	195,342	204,053
Customer relationships, net	29,942	40,631
Other intangible assets, net	6,599	7,073
Investments in consolidated subsidiaries	0	0
Deferred income taxes	419	87
Other assets	6,464	8,712
Total assets	598,934	571,973
LIABILITIES AND SHAREHOLDERS’ (DEFICIT) EQUITY
Accounts payable	94,686	57,262
Accrued expenses and other current liabilities	30,558	26,366
Accrued interest payable	21,770	9,020
Current portion of long-term debt	8,253	0
Deferred income taxes	559	605
Total current liabilities	155,826	93,253
Long-term debt	540,812	535,396
Amounts due to affiliates	0	0
Deferred income taxes	18,159	18,980
Other liabilities	31,310	32,907
Total liabilities	746,107	680,536
Shareholders’ (deficit) equity:
Common stock	195	195
Additional paid-in capital	724,443	724,071
Accumulated loss	(882,544)	(843,750)
Accumulated other comprehensive income	10,733	10,921
Total shareholders’ (deficit) equity	(147,173)	(108,563)
Total liabilities and shareholders’ (deficit) equity	598,934	571,973
Parent
ASSETS
Cash and cash equivalents	0	0	0	0
Accounts receivable, less allowance for doubtful accounts	0	0
Inventories, net	0	0
Income taxes receivable	0	0
Deferred income taxes	0	0
Other current assets	0	0
Total current assets	0	0
Property, plant and equipment, net	0	0
Amounts due from affiliates	0	0
Goodwill	0	0
Customer relationships, net	0	0
Other intangible assets, net	0	0
Investments in consolidated subsidiaries	(141,507)	(103,217)
Deferred income taxes	0	0
Other assets	0	0
Total assets	(141,507)	(103,217)
LIABILITIES AND SHAREHOLDERS’ (DEFICIT) EQUITY
Accounts payable	0	0
Accrued expenses and other current liabilities	41	14
Accrued interest payable	0	0
Current portion of long-term debt	0
Deferred income taxes	0	0
Total current liabilities	41	14
Long-term debt	0	0
Amounts due to affiliates	5,625	5,332
Deferred income taxes	0	0
Other liabilities	0	0
Total liabilities	5,666	5,346
Shareholders’ (deficit) equity:
Common stock	195	195
Additional paid-in capital	724,443	724,071
Accumulated loss	(882,544)	(843,750)
Accumulated other comprehensive income	10,733	10,921
Total shareholders’ (deficit) equity	(147,173)	(108,563)
Total liabilities and shareholders’ (deficit) equity	(141,507)	(103,217)
Issuer
ASSETS
Cash and cash equivalents	907	1,700	4,443	1,574
Accounts receivable, less allowance for doubtful accounts	69,856	35,012
Inventories, net	92,459	62,270
Income taxes receivable	542	341
Deferred income taxes	556	559
Other current assets	5,603	5,462
Total current assets	169,923	105,344
Property, plant and equipment, net	55,054	62,185
Amounts due from affiliates	207,556	229,101
Goodwill	81,359	81,359
Customer relationships, net	18,776	24,626
Other intangible assets, net	6,599	7,073
Investments in consolidated subsidiaries	(2,243)	2,407
Deferred income taxes	0	0
Other assets	2,765	4,185
Total assets	539,789	516,280
LIABILITIES AND SHAREHOLDERS’ (DEFICIT) EQUITY
Accounts payable	71,145	30,312
Accrued expenses and other current liabilities	19,289	16,133
Accrued interest payable	21,736	8,973
Current portion of long-term debt	0
Deferred income taxes	0	0
Total current liabilities	112,170	55,418
Long-term debt	540,812	535,396
Amounts due to affiliates	11,403	12,086
Deferred income taxes	10,450	9,561
Other liabilities	6,461	7,036
Total liabilities	681,296	619,497
Shareholders’ (deficit) equity:
Common stock	0	0
Additional paid-in capital	661,550	661,180
Accumulated loss	(813,790)	(775,318)
Accumulated other comprehensive income	10,733	10,921
Total shareholders’ (deficit) equity	(141,507)	(103,217)
Total liabilities and shareholders’ (deficit) equity	539,789	516,280
Non-Guarantor
ASSETS
Cash and cash equivalents	2,328	7,277	5,017	8,450
Accounts receivable, less allowance for doubtful accounts	41,311	38,984
Inventories, net	27,719	27,490
Income taxes receivable	0	641
Deferred income taxes	19	21
Other current assets	2,517	1,546
Total current assets	73,894	75,959
Property, plant and equipment, net	61,297	67,929
Amounts due from affiliates	18,594	18,828
Goodwill	113,983	122,694
Customer relationships, net	11,166	16,005
Other intangible assets, net	0	0
Investments in consolidated subsidiaries	0	0
Deferred income taxes	419	87
Other assets	3,699	4,527
Total assets	283,052	306,029
LIABILITIES AND SHAREHOLDERS’ (DEFICIT) EQUITY
Accounts payable	23,541	26,950
Accrued expenses and other current liabilities	11,228	10,219
Accrued interest payable	34	47
Current portion of long-term debt	8,253
Deferred income taxes	559	605
Total current liabilities	43,615	37,821
Long-term debt	0	0
Amounts due to affiliates	209,122	230,511
Deferred income taxes	7,709	9,419
Other liabilities	24,849	25,871
Total liabilities	285,295	303,622
Shareholders’ (deficit) equity:
Common stock	21	21
Additional paid-in capital	199,452	199,452
Accumulated loss	(214,697)	(210,242)
Accumulated other comprehensive income	12,981	13,176
Total shareholders’ (deficit) equity	(2,243)	2,407
Total liabilities and shareholders’ (deficit) equity	283,052	306,029
Eliminations
ASSETS
Cash and cash equivalents	0	0	0	0
Accounts receivable, less allowance for doubtful accounts	0	0
Inventories, net	0	0
Income taxes receivable	0	0
Deferred income taxes	0	0
Other current assets	0	0
Total current assets	0	0
Property, plant and equipment, net	0	0
Amounts due from affiliates	(226,150)	(247,929)
Goodwill	0	0
Customer relationships, net	0	0
Other intangible assets, net	0	0
Investments in consolidated subsidiaries	143,750	100,810
Deferred income taxes	0	0
Other assets	0	0
Total assets	(82,400)	(147,119)
LIABILITIES AND SHAREHOLDERS’ (DEFICIT) EQUITY
Accounts payable	0	0
Accrued expenses and other current liabilities	0	0
Accrued interest payable	0	0
Current portion of long-term debt	0
Deferred income taxes	0	0
Total current liabilities	0	0
Long-term debt	0	0
Amounts due to affiliates	(226,150)	(247,929)
Deferred income taxes	0	0
Other liabilities	0	0
Total liabilities	(226,150)	(247,929)
Shareholders’ (deficit) equity:
Common stock	(21)	(21)
Additional paid-in capital	(861,002)	(860,632)
Accumulated loss	1,028,487	985,560
Accumulated other comprehensive income	(23,714)	(24,097)
Total shareholders’ (deficit) equity	143,750	100,810
Total liabilities and shareholders’ (deficit) equity	$ (82,400)	$ (147,119)

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Employee Benefit Plans (Details) (USD $) In Thousands, unless otherwise specified	3 Months Ended		9 Months Ended
	Sep. 26, 2014	Sep. 27, 2013	Sep. 26, 2014	Sep. 27, 2013
U.S. Plan
Defined Benefit Plan Disclosure [Line Items]
Service cost	$ 14	$ 16	$ 42	$ 48
Interest cost	141	130	421	390
Expected return on assets	(185)	(156)	(557)	(468)
Recognized actuarial net loss	3	73	7	217
Total defined benefit net periodic pension cost	(27)	63	(87)	187
Multiemployer benefit expense	324	313	893	860
Net periodic pension cost	297	376	806	1,047
UK Plan
Defined Benefit Plan Disclosure [Line Items]
Service cost	0	0	0	0
Interest cost	559	527	1,673	1,582
Expected return on assets	(472)	(411)	(1,412)	(1,233)
Recognized actuarial net loss	18	8	55	29
Total defined benefit net periodic pension cost	105	124	316	378
Multiemployer benefit expense	0	0	0	0
Net periodic pension cost	$ 105	$ 124	$ 316	$ 378

XML

Indebtedness

9 Months Ended

Sep. 26, 2014

Debt Disclosure [Abstract]

Indebtedness

Indebtedness

Indebtedness consisted of the following:

	September 26, 2014		December 31, 2013
	(in thousands)
Senior Secured Notes (9.50%)	$	375,000	$	375,000
Senior Unsecured Loan Facility (12.25%)	124,075		123,640
ABL Credit Facility	41,737		36,756
Dutch Revolving Credit Facility	8,253		—
Total debt	549,065		535,396
Less: current portion	8,253		—
Total long term debt	$	540,812	$	535,396

Senior Secured Notes

The Senior Secured Notes (the "Notes") consist of an aggregate principal amount of $375 million, which were issued pursuant to an indenture (the "Indenture"), dated March 18, 2011, among Euramax International, Inc. ("Euramax International"), Euramax Holdings, Inc. ("Euramax Holdings"), and certain of its domestic subsidiaries as guarantors, and Wells Fargo Bank, National Association, the Trustee.The Notes are fully and unconditionally guaranteed, jointly and severally, on a senior secured basis by Euramax Holdings, Euramax International, and Amerimax Richmond Company, a 100% owned domestic subsidiary of Euramax International. The Notes bear interest at 9.50% per year and mature on April 1, 2016, unless earlier redeemed or repurchased by Euramax International. Interest is payable semi-annually on April 1 and October 1 of each year.

The Notes are secured by a first priority security interest in (i) substantially all of the assets of Euramax International and the guarantors (other than inventory and accounts receivable and related assets, which assets secure the ABL Credit Facility on a first priority basis) and (ii) all of Euramax International's capital stock and the capital stock of each material domestic restricted subsidiary owned by Euramax International or a guarantor and 65% of the voting capital stock and 100% of any nonvoting capital stock of foreign restricted subsidiaries directly owned by the Company or a guarantor, and a second priority security interest in the inventory, receivables and related assets.

The Notes may be redeemed at the option of Euramax International, in whole or in part, under the conditions specified in the Indenture, at the following redemption prices plus accrued and unpaid interest to the redemption date if redeemed during the twelve-month period beginning on April 1 of the years indicated:

Year	Percentage
2013	107.125	%
2014	104.750	%
2015 and thereafter	100.000	%

The Indenture contains restrictive covenants that limit, among other things, the ability of Euramax International and certain of its subsidiaries to incur additional indebtedness, pay dividends and make certain distributions, make other restricted payments, make investments, incur liens, consolidate, merge, sell or otherwise dispose of all or substantially all of its assets and enter into certain transactions with affiliates, in each case, subject to exclusions, and other customary covenants. These limitations also limit Euramax International's ability to transfer cash or assets to Euramax Holdings, whether by dividend, loan or otherwise. The Indenture also contains customary events of default. If Euramax International undergoes a change of control (as defined in the Indenture), Euramax International will be required to make an offer to repurchase the Notes at 101% of the principal amount of the Notes redeemed plus accrued and unpaid interest, if any, to the date of redemption.

Senior Unsecured Loan Facility

On March 3, 2011, Euramax Holdings, Euramax International, and certain of its domestic subsidiaries entered into a credit and guaranty agreement for a senior unsecured loan facility (the "Senior Unsecured Loan Facility") in the aggregate principal amount of $125 million. The Senior Unsecured Loan Facility was issued at 98% of par on March 18, 2011 and matures on October 1, 2016.The difference between the consideration received and the aggregate face amount ($0.9 million) is being amortized and recorded in interest expense using the effective interest rate method over the term. The Senior Unsecured Loan Facility bears interest at 12.25% per year in the event no election is made to pay interest in kind (PIK), and 14.25% (7.875% cash pay and 6.375% PIK) per annum in the event a PIK election is made. Euramax International may make a PIK election for up to six quarters during the term of the Senior Unsecured Loan Facility. The interest rate on outstanding borrowings at September 26, 2014 was 12.25%, as Euramax International has not made a PIK election.

Euramax International may prepay outstanding amounts under the Senior Unsecured Loan Facility, in whole or in part, at the prices (expressed as percentages of the loans) set forth below:

Prepayment Date	Percentage
On or after the second anniversary of the closing but prior to the third anniversary thereof	103	%
On or after the third anniversary of the closing but prior to the fourth anniversary thereof	102	%
On or after the fourth anniversary of the closing	100	%

Upon a change of control, Euramax International may be required to prepay all or a portion of the Senior Unsecured Loan Facility at a price equal to 101% of the principal amount plus accrued and unpaid interest.All obligations under the Senior Unsecured Loan Facility are unconditionally guaranteed by Euramax Holdings, Euramax International, and substantially all of Euramax International's existing and future direct and indirect 100% owned domestic material restricted subsidiaries.

The Senior Unsecured Loan Facility contains restrictive covenants that limit, among other things, the ability of Euramax International and certain of its subsidiaries to incur additional indebtedness, pay dividends and make certain distributions, make other restricted payments, make investments, incur liens, consolidate, merge, sell or otherwise dispose of all or substantially all of its assets and enter into certain transactions with affiliates, in each case, subject to exclusions, and other customary covenants.

The Senior Unsecured Loan Facility contains certain customary representations and warranties, affirmative covenants and events of default, including among other things, payment defaults, covenant defaults, cross‑defaults to certain indebtedness, certain events of bankruptcy, material judgments, and failure of any guaranty supporting the Senior Unsecured Loan Facility to be in force and effect in any material respect. If such an event of default occurs, the administrative agent would be entitled to take various actions, including the acceleration of amounts due under the Senior Unsecured Loan Facility and all actions permitted to be taken by an unsecured creditor.

ABL Credit Facility

On March 18, 2011, Euramax Holdings, Euramax International, and certain of its domestic subsidiaries, entered into the ABL Credit Facility with Regions Bank, as Collateral and Administrative Agent, Wells Fargo Capital Finance, LLC, as Co-Collateral Agent, and Regions Business Capital, as Sole Lead Arranger and Bookrunner. The ABL Credit Facility provides for revolving credit financing of up to $70 million, subject to borrowing base availability and matures on March 1, 2018. However, if the Agent has not received on or before December 31, 2015, evidence satisfactory to Agent that the scheduled maturity dates of the indebtedness arising under the Indenture and the Senior Unsecured Loan Facility, in each case, have been extended to a date that is 90 or more days following March 1, 2018, then the maturity date for the ABL Credit facility shall be January 1, 2016. In March 2014, Wells Fargo Capital Finance, LLC ceased to be Co-Collateral Agent and a Lender under the ABL Credit Facility. At September 26, 2014, $28.3 million was available to be drawn on the ABL Credit Facility.

On March 21, 2014 and May 8, 2014, the ABL Credit Facility was amended to, among other items, (i) reduce the applicable margin rate for LIBOR borrowings from a range of 2.00% to 2.75% to a range of 1.75% to 2.25% and reduce the applicable margin rate for Base Rate borrowings from a range of 1.00% to 1.75% to a range of 1.00% to 1.25%, in each case, based on average excess availability rather than corporate credit ratings of the Company, (ii) reduce the minimum excess availability threshold to $1.0 million, (iii) reduce the fixed charge coverage ratio from 1.15 to 1.00, (iv) suspend the testing of the fixed charge coverage ratio (A) during fiscal year 2014, unless a Seasonal Overadvance A is then in effect, (B) at all other times including during fiscal year 2014 during the occurrence of a Seasonal Overadvance B or (C) during the occurrence of a Seasonal Overadvance C, (v) suspend the testing of the minimum consolidated EBITDA test except (A) during fiscal year 2014 if a Seasonal Overadvance A is then in effect, (B) at any time during the life of the ABL Credit Facility, during the occurrence of a Seasonal Overadvance B or (C) at any time during the life of the ABL Credit Facility during the occurrence of a Seasonal Overadvance C, and (vi) provide for the three mutually exclusive overadvance facilities as described below.

"Seasonal Overadvance A", in the amount of $15.0 million, is available to the Company from February 1 of each year through May 31 of each such year, subject to the Company demonstrating compliance with the fixed charge coverage ratio of 1.00:1.00, payment of a fee in the amount of 0.20% of the amount of such facility (the "Seasonal Overadvance Fee") and other customary conditions.

"Seasonal Overadvance B", in the amount of $9.0 million, is available to the Company from February 1 of each year through November 30 of each such year, subject to the Company demonstrating compliance with a U.S. fixed charge coverage ratio of 1.00:1.00, payment of the Seasonal Overadvance Fee (except to the extent already paid during such calendar year), maintenance of a U.S. fixed charge coverage ratio of 1.00:1.00 and other customary conditions.

"Seasonal Overadvance C", in the amount of the lesser of (i) $6.0 million and (ii) the sum of (a) 10% of the first component of the borrowing base and (b) 10% of the second component of the borrowing base, is available to the Company from February 1 of each year through August 22 of each such year, subject to the payment of the Seasonal Overadvance Fee (except to the extent already paid during such calendar year), maintenance of a minimum consolidated EBITDA over the trailing twelve months of $52.0 million ($50.0 million for fiscal 2014) and other customary conditions.

Borrowings under the ABL Credit Facility bear interest at a rate per annum equal to either (a) LIBOR plus an applicable margin or (b) a base rate determined by reference to the highest of (1) the prime commercial lending rate published by Regions Bank as its “prime rate” for commercial loans, (2) the federal funds effective rate plus 0.50% and (3) the one-month LIBOR plus 1.00%, plus an applicable margin. The applicable margin is dependent upon the type of borrowings Euramax International has made under the ABL Credit Facility. At September 26, 2014, the applicable margins are subject to Euramax International’s Average Excess Availability Percentage for the most recently ended fiscal quarter and range from 1.75% to 2.25% for LIBOR borrowings and 1.00% to 1.25% for Base Rate borrowings. The weighted average interest rate at September 26, 2014, including the applicable margin payable on outstanding borrowings under the ABL Credit Facility, was 2.41%. The ABL Credit Facility requires Euramax International to pay a commitment fee ranging from 0.375% to 0.5%, based on the unutilized commitments. Euramax International is also required to pay customary letter of credit fees, including, without limitation, a letter of credit fee equal to the applicable margin on revolving credit LIBOR loans and fronting fees.

All obligations under the ABL Credit Facility are unconditionally guaranteed by Euramax Holdings, Euramax International, and Amerimax Richmond Company, a 100% owned domestic subsidiary of Euramax International, and any future direct and indirect 100% owned domestic restricted subsidiaries which are not borrowers. All obligations under the ABL Credit Facility are secured, subject to certain exceptions, by a first‑priority security interest in Euramax International’s and the Guarantors’ inventory and accounts receivable and related assets, referred to as the ABL Collateral, and a junior‑priority security interest in (i) substantially all of Euramax International’s and the Guarantors’ assets (other than inventory and accounts receivable and related assets, which assets secure the ABL Credit Facility on a first priority basis) and (ii) all of Euramax International’s capital stock and the capital stock of each material domestic restricted subsidiary owned by Euramax International or a Guarantor and 65% of the voting capital stock and 100% of any non-voting capital stock of foreign restricted subsidiaries directly owned by Euramax International or a Guarantor, which we refer to collectively as the Notes Collateral.

The ABL Credit Facility contains affirmative and negative covenants customary for this type of financing, including, but not limited to certain financial covenants in the event excess availability is less than 12.5% of the lesser of the aggregate amount of commitments outstanding at such time and the borrowing base. As of September 26, 2014, excess availability exceeded 12.5% of the borrowing base; therefore, Euramax International was not required to meet the Minimum Consolidated Adjusted EBITDA or Minimum Consolidated Fixed Charge Coverage Ratio. Additionally, restrictive covenants limit the ability of Euramax International and certain of its subsidiaries to incur liens, incur, assume or permit to exist additional indebtedness, guarantees and other contingent obligations, consolidate, merge or sell all or substantially all of their assets, pay dividends or make other distributions, make certain loans and investments, amend or otherwise alter the terms of documents related to certain of their indebtedness, enter into transactions with affiliates and prepay certain indebtedness, in each case, subject to exclusions, and other customary covenants.

Dutch Revolving Credit Facility

In February 2012, the Company's 100% owned subsidiary Euramax Coated Products, BV entered into a revolving credit facility with Rabobank Roermond (the "Dutch Revolving Credit Facility"). The Dutch Revolving Credit Facility provides revolving credit financing of up to EUR 15 million and matures on April 1, 2016. Borrowings under the Dutch Revolving Credit Facility bear interest at a rate per annum which is the aggregate of the average one month Euribor rate over a calendar month plus a margin of 2% and requires payment of a commitment fee of 0.35% per annum on the nominal amount of the credit facility. The weighted average interest rate at September 26, 2014, including the margin payable on outstanding borrowings under the Dutch Revolving Credit Facility, was 2.32%. All obligations under the Dutch Revolving Credit Facility are secured by a mortgage on the real estate of Euramax Coated Products, BV and a pledge on present and future machinery and present and future accounts receivable balances of Euramax Coated Products, BV. At September 26, 2014, $10.8 million (EUR 8.5 million) was available to be drawn on the Dutch Revolving Credit Facility.

The Dutch Revolving Credit Facility contains financial and non-financial covenants customary for this type of financing. Financial covenants include, but are not limited to, a minimum annual EBITDA target and a minimum amount of risk-bearing capital for Euramax Coated Products, BV, both measured at the Company's fiscal year-end. The Dutch Revolving Credit Facility also contains a clause limiting further indebtedness. As of September 26, 2014, Euramax Coated Products, BV is in compliance with all covenants.

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Supplemental Guarantor Condensed Financial Information - Consolidated Statements of Operations (Details) (USD $) In Thousands, unless otherwise specified	3 Months Ended		9 Months Ended
	Sep. 26, 2014	Sep. 27, 2013	Sep. 26, 2014	Sep. 27, 2013
Condensed Financial Statements, Captions [Line Items]
Net sales	$ 239,942	$ 227,835	$ 642,836	$ 630,241
Costs and Expense:
Cost of goods sold (excluding depreciation and amortization)	202,160	188,792	542,208	528,423
Selling and general (excluding depreciation and amortization)	17,413	20,387	55,379	59,767
Depreciation and amortization	8,142	8,514	24,595	25,557
Other operating charges	1,051	1,455	4,357	5,355
Income (loss) from operations	11,176	8,687	16,297	11,139
Equity in earnings (losses) of subsidiaries	0	0	0	0
Interest expense	(13,895)	(13,805)	(41,574)	(41,257)
Intercompany income (loss), net	0	0	0	0
Other (loss) income, net	(14,056)	8,295	(14,376)	4,061
Income (loss) before income taxes	(16,775)	3,177	(39,653)	(26,057)
(Benefit from) provision for income taxes	(369)	(13,082)	(859)	(12,644)
Net (loss) income	(16,406)	16,259	(38,794)	(13,413)
Parent
Condensed Financial Statements, Captions [Line Items]
Net sales	0	0	0	0
Costs and Expense:
Cost of goods sold (excluding depreciation and amortization)	0	0	0	0
Selling and general (excluding depreciation and amortization)	102	325	322	513
Depreciation and amortization	0	0	0	0
Other operating charges	0	0	0	0
Income (loss) from operations	(102)	(325)	(322)	(513)
Equity in earnings (losses) of subsidiaries	(16,304)	16,584	(38,472)	(12,900)
Interest expense	0	0	0	0
Intercompany income (loss), net	0	0	0	0
Other (loss) income, net	0	0	0	0
Income (loss) before income taxes	(16,406)	16,259	(38,794)	(13,413)
(Benefit from) provision for income taxes	0	0	0	0
Net (loss) income	(16,406)	16,259	(38,794)	(13,413)
Subsidiary Issuer
Condensed Financial Statements, Captions [Line Items]
Net sales	177,682	165,866	441,341	429,300
Costs and Expense:
Cost of goods sold (excluding depreciation and amortization)	150,361	137,171	376,504	361,266
Selling and general (excluding depreciation and amortization)	11,722	13,686	36,200	40,416
Depreciation and amortization	5,406	5,579	16,198	16,712
Other operating charges	795	155	3,031	821
Income (loss) from operations	9,398	9,275	9,408	10,085
Equity in earnings (losses) of subsidiaries	(1,471)	(4,171)	(4,455)	(11,619)
Interest expense	(13,571)	(13,528)	(40,520)	(40,384)
Intercompany income (loss), net	4,486	4,478	13,825	13,158
Other (loss) income, net	(15,023)	8,313	(15,876)	4,891
Income (loss) before income taxes	(16,181)	4,367	(37,618)	(23,869)
(Benefit from) provision for income taxes	123	(12,217)	854	(10,969)
Net (loss) income	(16,304)	16,584	(38,472)	(12,900)
Non-Guarantor
Condensed Financial Statements, Captions [Line Items]
Net sales	64,674	64,365	207,434	206,908
Costs and Expense:
Cost of goods sold (excluding depreciation and amortization)	54,213	54,017	171,643	173,124
Selling and general (excluding depreciation and amortization)	5,589	6,376	18,857	18,838
Depreciation and amortization	2,736	2,935	8,397	8,845
Other operating charges	256	1,300	1,326	4,534
Income (loss) from operations	1,880	(263)	7,211	1,567
Equity in earnings (losses) of subsidiaries	0	0	0	0
Interest expense	(324)	(277)	(1,054)	(873)
Intercompany income (loss), net	(4,486)	(4,478)	(13,825)	(13,158)
Other (loss) income, net	967	(18)	1,500	(830)
Income (loss) before income taxes	(1,963)	(5,036)	(6,168)	(13,294)
(Benefit from) provision for income taxes	(492)	(865)	(1,713)	(1,675)
Net (loss) income	(1,471)	(4,171)	(4,455)	(11,619)
Eliminations
Condensed Financial Statements, Captions [Line Items]
Net sales	(2,414)	(2,396)	(5,939)	(5,967)
Costs and Expense:
Cost of goods sold (excluding depreciation and amortization)	(2,414)	(2,396)	(5,939)	(5,967)
Selling and general (excluding depreciation and amortization)	0	0	0	0
Depreciation and amortization	0	0	0	0
Other operating charges	0	0	0	0
Income (loss) from operations	0	0	0	0
Equity in earnings (losses) of subsidiaries	17,775	(12,413)	42,927	24,519
Interest expense	0	0	0	0
Intercompany income (loss), net	0	0	0	0
Other (loss) income, net	0	0	0	0
Income (loss) before income taxes	17,775	(12,413)	42,927	24,519
(Benefit from) provision for income taxes	0	0	0	0
Net (loss) income	$ 17,775	$ (12,413)	$ 42,927	$ 24,519

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Indebtedness (Details) (USD $) In Thousands, unless otherwise specified	Sep. 26, 2014	Dec. 31, 2013
Debt Instrument [Line Items]
Long-term debt	$ 549,065	$ 535,396
Current portion of long-term debt	8,253	0
Long-term debt, excluding current maturities	540,812	535,396
Senior notes | Senior Secured Notes (9.50%)
Debt Instrument [Line Items]
Long-term debt	375,000	375,000
Unsecured debt | Senior Unsecured Loan Facility (12.25%)
Debt Instrument [Line Items]
Long-term debt	124,075	123,640
Line of credit | ABL Credit Facility
Debt Instrument [Line Items]
Long-term debt	41,737	36,756
Line of credit | Dutch Revolving Credit Facility
Debt Instrument [Line Items]
Long-term debt	8,253	0
Current portion of long-term debt	$ 8,253	$ 0

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Inventories (Details) (USD $)	Sep. 26, 2014	Dec. 31, 2013
Inventory Disclosure [Abstract]
Aluminum and steel coil	$ 80,783,000	$ 58,153,000
Raw materials	17,782,000	15,291,000
Work in process	3,283,000	1,936,000
Finished products	18,330,000	14,380,000
Inventories, net	120,178,000	89,760,000
Inventory valuation reserves	$ (3,100,000)	$ (2,400,000)

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Supplemental Guarantor Condensed Financial Information - Consolidated Statements of Comprehensive (Loss) Income (Details) (USD $) In Thousands, unless otherwise specified	3 Months Ended		9 Months Ended
	Sep. 26, 2014	Sep. 27, 2013	Sep. 26, 2014	Sep. 27, 2013
Condensed Financial Statements, Captions [Line Items]
Net (loss) income	$ (16,406)	$ 16,259	$ (38,794)	$ (13,413)
Other comprehensive (loss) income:
Foreign currency translation adjustment	204	(89)	(250)	(431)
Defined benefit pension plan adjustments, net of tax	(21)	(81)	(62)	(246)
Total comprehensive loss	(16,181)	16,251	(38,982)	(13,598)
Parent
Condensed Financial Statements, Captions [Line Items]
Net (loss) income	(16,406)	16,259	(38,794)	(13,413)
Other comprehensive (loss) income:
Foreign currency translation adjustment	204	(89)	(250)	(431)
Defined benefit pension plan adjustments, net of tax	(21)	(81)	(62)	(246)
Total comprehensive loss	(16,181)	16,251	(38,982)	(13,598)
Subsidiary Issuer
Condensed Financial Statements, Captions [Line Items]
Net (loss) income	(16,304)	16,584	(38,472)	(12,900)
Other comprehensive (loss) income:
Foreign currency translation adjustment	204	(89)	(250)	(431)
Defined benefit pension plan adjustments, net of tax	(21)	(81)	(62)	(246)
Total comprehensive loss	(16,079)	16,576	(38,660)	(13,085)
Non-Guarantor
Condensed Financial Statements, Captions [Line Items]
Net (loss) income	(1,471)	(4,171)	(4,455)	(11,619)
Other comprehensive (loss) income:
Foreign currency translation adjustment	204	(89)	(250)	(431)
Defined benefit pension plan adjustments, net of tax	(18)	(8)	(55)	(29)
Total comprehensive loss	(1,249)	(4,252)	(4,650)	(12,021)
Eliminations
Condensed Financial Statements, Captions [Line Items]
Net (loss) income	17,775	(12,413)	42,927	24,519
Other comprehensive (loss) income:
Foreign currency translation adjustment	(408)	178	500	862
Defined benefit pension plan adjustments, net of tax	39	89	117	275
Total comprehensive loss	$ 17,328	$ (12,324)	$ 43,310	$ 25,106

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Indebtedness Senior Secured Notes (Details) (USD $) In Thousands, unless otherwise specified						0 Months Ended
	Sep. 26, 2014	Dec. 31, 2013	Sep. 26, 2014 Senior notes Senior Secured Notes (9.50%)	Dec. 31, 2013 Senior notes Senior Secured Notes (9.50%)	Mar. 18, 2011 Senior notes Senior Secured Notes (9.50%)	Mar. 18, 2011 Senior notes Senior Secured Notes (9.50%) Change of control	Mar. 18, 2011 Senior notes Senior Secured Notes (9.50%) 2013	Mar. 18, 2011 Senior notes Senior Secured Notes (9.50%) 2014	Mar. 18, 2011 Senior notes Senior Secured Notes (9.50%) 2015 and thereafter	Mar. 18, 2011 Line of credit Senior Secured Notes (9.50%)
Debt Instrument [Line Items]
Long-term debt	$ 549,065	$ 535,396	$ 375,000	$ 375,000
Subsidiary ownership percentage	100.00%
Debt instrument, interest rate, stated percentage					9.50%
Foreign restricted subsidiaries, percent of voting capital stock, collateral										65.00%
Foreign restricted subsidiaries, percent of non-voting capital stock, collateral										100.00%
Prepayment redemption price percentages						101.00%	107.125%	104.75%	100.00%

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Indebtedness Senior Unsecured Loan Facility (Details) (USD $) In Millions, unless otherwise specified					0 Months Ended
	Sep. 26, 2014	Sep. 26, 2014 Senior Unsecured Loan Facility (12.25%)	Sep. 26, 2014 Senior Unsecured Loan Facility (12.25%) Unsecured debt	Mar. 18, 2011 Senior Unsecured Loan Facility (12.25%) Unsecured debt quarters	Mar. 18, 2011 Senior Unsecured Loan Facility (12.25%) Unsecured debt Change of control	Mar. 18, 2011 Senior Unsecured Loan Facility (12.25%) Unsecured debt On or after the second anniversary of the closing but prior to the third anniversary thereof	Mar. 18, 2011 Senior Unsecured Loan Facility (12.25%) Unsecured debt On or after the third anniversary of the closing but prior to the fourth anniversary thereof	Mar. 18, 2011 Senior Unsecured Loan Facility (12.25%) Unsecured debt On or after the fourth anniversary of the closing	Sep. 26, 2014 Senior Unsecured Loan Facility (12.25%) Unsecured debt No paid interest in kind election	Mar. 18, 2011 Senior Unsecured Loan Facility (12.25%) Unsecured debt No paid interest in kind election	Mar. 18, 2011 Senior Unsecured Loan Facility (12.25%) Unsecured debt With paid interest in kind election	Mar. 18, 2011 Senior Unsecured Loan Facility (12.25%) Unsecured debt With paid interest in kind election Cash interest portion	Mar. 18, 2011 Senior Unsecured Loan Facility (12.25%) Unsecured debt With paid interest in kind election Paid in kind interest portion
Debt Instrument [Line Items]
Debt instrument, face amount				$ 125
Debt instrument, issuance price as percent of par value				98.00%
Debt instrument, unamortized discount			$ 0.9
Debt instrument, interest rate, stated percentage										12.25%	14.25%	7.875%	6.375%
Maximum number of quarters the paid in kind election may be made				6
Debt instrument, interest rate, effective percentage									12.25%
Prepayment redemption price percentages						103.00%	102.00%	100.00%
Potentional required purchase price upon change of control, percentage of purchase price					101.00%
Subsidiary ownership percentage	100.00%	100.00%

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Inventories

9 Months Ended

Sep. 26, 2014

Inventory Disclosure [Abstract]

Inventories

Inventories

Inventories were comprised of:

	September 26, 2014		December 31, 2013
	(in thousands)
Aluminum and steel coil	$	80,783	$	58,153
Raw materials	17,782		15,291
Work in process	3,283		1,936
Finished products	18,330		14,380
Total inventories, net	$	120,178	$	89,760

The Company has disclosed aluminum and steel coil inventory separately, as it represents inventory that can be classified as raw material, work in process or finished product. Aluminum and steel coil includes both painted and bare coil. Inventories are net of related reserves totaling $3.1 million and $2.4 million as of September 26, 2014 and December 31, 2013, respectively.

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Indebtedness ABL Credit Facility (Details) (USD $) In Millions, unless otherwise specified		9 Months Ended			0 Months Ended				0 Months Ended							0 Months Ended			0 Months Ended			0 Months Ended			0 Months Ended		0 Months Ended			0 Months Ended
	Sep. 26, 2014	Sep. 26, 2014 ABL Credit Facility London Interbank Offered Rate (LIBOR)	Mar. 21, 2014 Seasonal Overadvance A	Mar. 21, 2014 Seasonal Overadvance B	Mar. 21, 2014 Line of credit ABL Credit Facility	Mar. 18, 2011 Line of credit ABL Credit Facility	Sep. 26, 2014 Line of credit ABL Credit Facility	Mar. 25, 2013 Line of credit ABL Credit Facility	Mar. 21, 2014 Line of credit ABL Credit Facility Minimum	Mar. 18, 2011 Line of credit ABL Credit Facility Minimum	Mar. 18, 2011 Line of credit ABL Credit Facility Maximum	Mar. 21, 2014 Line of credit ABL Credit Facility London Interbank Offered Rate (LIBOR)	Mar. 21, 2014 Line of credit ABL Credit Facility London Interbank Offered Rate (LIBOR) Minimum	Mar. 18, 2011 Line of credit ABL Credit Facility London Interbank Offered Rate (LIBOR) Minimum	Sep. 26, 2014 Line of credit ABL Credit Facility London Interbank Offered Rate (LIBOR) Minimum	Mar. 21, 2014 Line of credit ABL Credit Facility London Interbank Offered Rate (LIBOR) Maximum	Mar. 18, 2011 Line of credit ABL Credit Facility London Interbank Offered Rate (LIBOR) Maximum	Sep. 26, 2014 Line of credit ABL Credit Facility London Interbank Offered Rate (LIBOR) Maximum	Mar. 21, 2014 Line of credit ABL Credit Facility Base Rate Minimum	Mar. 18, 2011 Line of credit ABL Credit Facility Base Rate Minimum	Sep. 26, 2014 Line of credit ABL Credit Facility Base Rate Minimum	Mar. 21, 2014 Line of credit ABL Credit Facility Base Rate Maximum	Mar. 18, 2011 Line of credit ABL Credit Facility Base Rate Maximum	Sep. 26, 2014 Line of credit ABL Credit Facility Base Rate Maximum	Mar. 21, 2014 Line of credit ABL Credit Facility Federal Funds	Mar. 21, 2014 Line of credit Seasonal Overadvance A	Mar. 21, 2014 Line of credit Seasonal Overadvance A Minimum	Mar. 21, 2014 Line of credit Seasonal Overadvance A Maximum	Mar. 21, 2014 Line of credit Seasonal Overadvance B	Mar. 21, 2014 Line of credit Seasonal Overadvance B Minimum	Mar. 21, 2014 Line of credit Seasonal Overadvance B Maximum	Mar. 21, 2014 Line of credit Seasonal Overadvance C
Line of Credit Facility [Line Items]
Line of credit facility, maximum borrowing capacity						$ 70
Line of credit facility, remaining borrowing capacity							28.3
Debt instrument, basis spread on variable rate												1.00%	1.75%	2.00%		2.25%	2.75%		1.00%	1.00%		1.25%	1.75%		0.50%
Minimum excess availability reserve									1.0
Debt convenant, required fixed charge coverage ratio when excess availabiltiy is less than fifteen percent											1.15
Debt convenant, required fixed charge coverage ratio									1.00																		1.00	1.00		1.00	1.00
Line of credit facility additional borrowing capacity seasonal overadvance A																										15.0
Seasonal overadvance fee					0.20%
Line of credit facility additional borrowing capacity seasonal overadvance B																													9.0
Line of credit facility additional borrowing capacity seasonal overadvance C																																6.0
Debt instrument percentage of principal used			10.00%	10.00%
Minimum consolidated ebitda after fiscal year 2014																																52.0
Minimum consolidated ebitda fiscal year 2014																																$ 50.0
Debt instrument, description of variable rate basis		LIBOR
Marginal interest rate on combined fixed and variable rate															1.75%			2.25%			1.00%			1.25%
Debt, weighted average interest rate							2.40%
Line of credit facility, unused capacity, commitment fee percentage										0.375%	0.50%
Subsidiary ownership percentage	100.00%
Foreign restricted subsidiaries, percent of voting capital stock, collateral						65.00%
Foreign restricted subsidiaries, percent of non-voting capital stock, collateral						100.00%
Amended excess availability threshold percenatge that triggers a minimum consolidated fixed charge coverage ratio							12.50%	12.50%

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- Segment Information (Details) (USD $) In Thousands, unless otherwise specified	3 Months Ended		9 Months Ended
	Sep. 26, 2014	Sep. 27, 2013	Sep. 26, 2014 segments	Sep. 27, 2013
Segment Reporting Information [Line Items]
Third party, net sales	$ 239,942	$ 227,835	$ 642,836	$ 630,241
Income (loss) from operations	11,176	8,687	16,297	11,139
Depreciation and amortization	8,142	8,514	24,595	25,557
Capital expenditures	2,272	2,397	5,233	7,355
Segment Reporting, Disclosure of Other Information about Entity's Reportable Segments [Abstract]
Number of reportable segments			4
U.S. Residential Products
Segment Reporting Information [Line Items]
Third party, net sales	94,344	87,706	230,849	226,725
Income (loss) from operations	9,660	9,281	17,938	18,857
Depreciation and amortization	2,790	2,891	8,246	8,721
Capital expenditures	301	873	961	2,076
U.S. Commercial Products
Segment Reporting Information [Line Items]
Third party, net sales	85,673	80,775	216,799	209,573
Income (loss) from operations	2,213	2,251	(1,003)	(1,830)
Depreciation and amortization	2,707	2,628	7,564	7,866
Capital expenditures	641	361	1,344	1,367
European Roll Coated Aluminum
Segment Reporting Information [Line Items]
Third party, net sales	44,886	45,747	146,730	145,430
Income (loss) from operations	1,979	1,782	9,297	7,422
Depreciation and amortization	2,299	2,435	7,010	7,149
Capital expenditures	415	717	1,220	2,527
European Engineered Products
Segment Reporting Information [Line Items]
Third party, net sales	15,473	13,940	49,644	49,583
Income (loss) from operations	325	(1,612)	(619)	(5,144)
Depreciation and amortization	398	401	1,261	1,397
Capital expenditures	248	180	730	396
Other Non-Allocated
Segment Reporting Information [Line Items]
Third party, net sales	0	0	0	0
Income (loss) from operations	(3,001)	(3,015)	(9,316)	(8,166)
Depreciation and amortization	(52)	159	514	424
Capital expenditures	667	266	978	989
Eliminations
Segment Reporting Information [Line Items]
Third party, net sales	(434)	(333)	(1,186)	(1,070)
Income (loss) from operations	0	0	0	0
Depreciation and amortization	0	0	0	0
Capital expenditures	0	0	0	0
Operating Segments
Segment Reporting Information [Line Items]
Third party, net sales	239,942	227,835	642,836	630,241
Operating Segments | U.S. Residential Products
Segment Reporting Information [Line Items]
Third party, net sales	94,126	87,518	230,235	226,203
Operating Segments | U.S. Commercial Products
Segment Reporting Information [Line Items]
Third party, net sales	85,633	80,717	216,699	209,217
Operating Segments | European Roll Coated Aluminum
Segment Reporting Information [Line Items]
Third party, net sales	44,710	45,660	146,258	145,238
Operating Segments | European Engineered Products
Segment Reporting Information [Line Items]
Third party, net sales	15,473	13,940	49,644	49,583
Operating Segments | Other Non-Allocated
Segment Reporting Information [Line Items]
Third party, net sales	0	0	0	0
Operating Segments | Eliminations
Segment Reporting Information [Line Items]
Third party, net sales	0	0	0	0
Segment Reconciling Items
Segment Reporting Information [Line Items]
Third party, net sales	0	0	0	0
Segment Reconciling Items | U.S. Residential Products
Segment Reporting Information [Line Items]
Third party, net sales	218	188	614	522
Segment Reconciling Items | U.S. Commercial Products
Segment Reporting Information [Line Items]
Third party, net sales	40	58	100	356
Segment Reconciling Items | European Roll Coated Aluminum
Segment Reporting Information [Line Items]
Third party, net sales	176	87	472	192
Segment Reconciling Items | European Engineered Products
Segment Reporting Information [Line Items]
Third party, net sales	0	0	0	0
Segment Reconciling Items | Other Non-Allocated
Segment Reporting Information [Line Items]
Third party, net sales	0	0	0	0
Segment Reconciling Items | Eliminations
Segment Reporting Information [Line Items]
Third party, net sales	$ (434)	$ (333)	$ (1,186)	$ (1,070)

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Condensed Consolidated Balance Sheets (USD $) In Thousands, unless otherwise specified	Sep. 26, 2014	Dec. 31, 2013	Sep. 27, 2013	Dec. 31, 2012
ASSETS
Cash and cash equivalents	$ 3,235	$ 8,977	$ 9,460	$ 10,024
Accounts receivable, less allowances of $1,541 and $2,235, respectively	111,167	73,996
Inventories, net	120,178	89,760
Income taxes receivable	542	982
Deferred income taxes	575	580
Other current assets	8,120	7,008
Total current assets	243,817	181,303
Property, plant and equipment, net	116,351	130,114
Goodwill	195,342	204,053
Customer relationships, net	29,942	40,631
Other intangible assets, net	6,599	7,073
Deferred income taxes	419	87
Other assets	6,464	8,712
Total assets	598,934	571,973
LIABILITIES AND SHAREHOLDERS’ DEFICIT
Accounts payable	94,686	57,262
Accrued expenses and other current liabilities	30,558	26,366
Accrued interest payable	21,770	9,020
Current portion of long-term debt	8,253	0
Deferred income taxes	559	605
Total current liabilities	155,826	93,253
Long-term debt	540,812	535,396
Deferred income taxes	18,159	18,980
Other liabilities	31,310	32,907
Total liabilities	746,107	680,536
Shareholders’ deficit:
Common stock	195	195
Additional paid-in capital	724,443	724,071
Accumulated loss	(882,544)	(843,750)
Accumulated other comprehensive income	10,733	10,921
Total shareholders’ deficit	(147,173)	(108,563)
Total liabilities and shareholders’ deficit	$ 598,934	$ 571,973

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Supplemental Guarantor Condensed Financial Information - Consolidated Statements of Cash Flows (Details) (USD $) In Thousands, unless otherwise specified	9 Months Ended
	Sep. 26, 2014	Sep. 27, 2013
Condensed Financial Statements, Captions [Line Items]
Net cash used in operating activities	$ (14,315)	$ (16,736)
Cash flows from investing activities:
Proceeds from sale of assets	777	2,288
Capital expenditures	(5,233)	(7,355)
Due from (to) affiliates	0	0
Net cash (used in) provided by investing activities	(4,456)	(5,067)
Cash flows from financing activities:
Net borrowings on Dutch Revolving Credit Facility	8,253	1,836
Net borrowings on ABL Credit Facility	4,981	19,514
Changes in cash overdrafts	215	0
Debt issuance costs	(88)	(175)
Due (to) from affiliates	0	0
Net cash provided by financing activities	13,361	21,175
Effect of exchange rate changes on cash	(332)	64
Net (decrease) increase in cash and cash equivalents	(5,742)	(564)
Cash and cash equivalents at beginning of period	8,977	10,024
Cash and cash equivalents at end of period	3,235	9,460
Parent
Condensed Financial Statements, Captions [Line Items]
Net cash used in operating activities	0	0
Cash flows from investing activities:
Proceeds from sale of assets	0	0
Capital expenditures	0	0
Due from (to) affiliates	0	0
Net cash (used in) provided by investing activities	0	0
Cash flows from financing activities:
Net borrowings on Dutch Revolving Credit Facility	0	0
Net borrowings on ABL Credit Facility	0	0
Changes in cash overdrafts	0
Debt issuance costs	0	0
Due (to) from affiliates	0	0
Net cash provided by financing activities	0	0
Effect of exchange rate changes on cash	0	0
Net (decrease) increase in cash and cash equivalents	0	0
Cash and cash equivalents at beginning of period	0	0
Cash and cash equivalents at end of period	0	0
Subsidiary Issuer
Condensed Financial Statements, Captions [Line Items]
Net cash used in operating activities	(8,172)	(10,148)
Cash flows from investing activities:
Proceeds from sale of assets	776	266
Capital expenditures	(3,239)	(4,379)
Due from (to) affiliates	4,949	0
Net cash (used in) provided by investing activities	2,486	(4,113)
Cash flows from financing activities:
Net borrowings on Dutch Revolving Credit Facility	0	0
Net borrowings on ABL Credit Facility	4,981	19,514
Changes in cash overdrafts	0
Debt issuance costs	(88)	(175)
Due (to) from affiliates	0	(2,209)
Net cash provided by financing activities	4,893	17,130
Effect of exchange rate changes on cash	0	0
Net (decrease) increase in cash and cash equivalents	(793)	2,869
Cash and cash equivalents at beginning of period	1,700	1,574
Cash and cash equivalents at end of period	907	4,443
Non-Guarantor
Condensed Financial Statements, Captions [Line Items]
Net cash used in operating activities	(6,143)	(6,588)
Cash flows from investing activities:
Proceeds from sale of assets	1	2,022
Capital expenditures	(1,994)	(2,976)
Due from (to) affiliates	0	2,209
Net cash (used in) provided by investing activities	(1,993)	1,255
Cash flows from financing activities:
Net borrowings on Dutch Revolving Credit Facility	8,253	1,836
Net borrowings on ABL Credit Facility	0	0
Changes in cash overdrafts	215
Debt issuance costs	0	0
Due (to) from affiliates	(4,949)	0
Net cash provided by financing activities	3,519	1,836
Effect of exchange rate changes on cash	(332)	64
Net (decrease) increase in cash and cash equivalents	(4,949)	(3,433)
Cash and cash equivalents at beginning of period	7,277	8,450
Cash and cash equivalents at end of period	2,328	5,017
Eliminations
Condensed Financial Statements, Captions [Line Items]
Net cash used in operating activities	0	0
Cash flows from investing activities:
Proceeds from sale of assets	0	0
Capital expenditures	0	0
Due from (to) affiliates	(4,949)	(2,209)
Net cash (used in) provided by investing activities	(4,949)	(2,209)
Cash flows from financing activities:
Net borrowings on Dutch Revolving Credit Facility	0	0
Net borrowings on ABL Credit Facility	0	0
Changes in cash overdrafts	0
Debt issuance costs	0	0
Due (to) from affiliates	4,949	2,209
Net cash provided by financing activities	4,949	2,209
Effect of exchange rate changes on cash	0	0
Net (decrease) increase in cash and cash equivalents	0	0
Cash and cash equivalents at beginning of period	0	0
Cash and cash equivalents at end of period	$ 0	$ 0

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Condensed Consolidated Statements of Cash Flows (USD $) In Thousands, unless otherwise specified	9 Months Ended
	Sep. 26, 2014	Sep. 27, 2013
Cash flows from operating activities [Abstract]
Net loss	$ (38,794)	$ (13,413)
Depreciation and amortization	24,595	25,557
Amortization of deferred financing fees	1,804	1,621
Amortization of debt discount	435	336
Share-based compensation	372	2,246
Provision for doubtful accounts	85	570
Foreign exchange loss (gain)	15,081	(4,478)
(Gain) loss on sale or disposal of assets	(125)	1,531
Deferred income taxes	(800)	336
Changes in operating assets and liabilities, net of acquisitions
Accounts receivable	(39,555)	(27,514)
Inventories	(32,061)	(17,188)
Other current assets	(1,266)	(1,393)
Accounts payable and other current liabilities	56,472	26,150
Income taxes payable	279	(12,984)
Other noncurrent assets and liabilities	(837)	1,887
Net cash used in operating activities	(14,315)	(16,736)
Cash flows from investing activities:
Proceeds from sales of assets	777	2,288
Capital expenditures	(5,233)	(7,355)
Net cash used in investing activities	(4,456)	(5,067)
Cash flows from financing activities:
Net borrowings on ABL Credit Facility	4,981	19,514
Net borrowings on Dutch Revolving Credit Facility	8,253	1,836
Changes in cash overdrafts	215	0
Debt issuance costs	(88)	(175)
Net cash provided by financing activities	13,361	21,175
Effect of exchange rate changes on cash	(332)	64
Net decrease in cash and cash equivalents	(5,742)	(564)
Cash and cash equivalents at beginning of period	8,977	10,024
Cash and cash equivalents at end of period	$ 3,235	$ 9,460

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Income Taxes (Details) (USD $) In Millions, unless otherwise specified	3 Months Ended		9 Months Ended
	Sep. 26, 2014	Sep. 27, 2013	Sep. 26, 2014	Sep. 27, 2013
Income Tax Disclosure [Abstract]
Effective income tax rate, continuing operations	(2.20%)	411.80%	(2.20%)	(48.50%)
Income Tax Uncertainties [Abstract]
Unrecognized tax benefits, reduction resulting from lapse of applicable statute of limitations		$ 9.0		$ 9.0
Unrecognized tax benefits reversal of interest and penalties accrued		$ 3.4		$ 3.4

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Accumulated Other Comprehensive Income (Tables)

9 Months Ended

Sep. 26, 2014

Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract]

Schedule of Accumulated Other Comprehensive Income (Loss)

Changes in accumulated other comprehensive income (loss) by component for the nine month period ended September 26, 2014 were as follows:

	Foreign Currency Translation Adjustments			Defined Benefit Pension Plan Adjustments			Total
	(in thousands)
Balance, beginning of period	$	19,281		$	(8,360	)	$	10,921
Other comprehensive (loss) income before reclassifications	(250		)	—			(250		)
Amounts reclassified from accumulated other comprehensive income (loss)	—			62			62
Net other comprehensive (loss) income	(250		)	62			(188		)
Balance, end of period	$	19,031		$	(8,298	)	$	10,733

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Accumulated Other Comprehensive Income (Details) (USD $)	9 Months Ended
	Sep. 26, 2014	Dec. 31, 2013
Accumulated Other Comprehensive Income (Loss) [Line Items]
Balance, beginning of period	$ 10,921,000
Other comprehensive (loss) income before reclassifications	(250,000)
Amounts reclassified from accumulated other comprehensive income (loss)	62,000
Net other comprehensive (loss) income	(188,000)
Balance, end of period	10,733,000
Other comprehensive income (loss), pension and other postretirement benefit plans, tax	(300,000)	(300,000)
Accumulated Translation Adjustment
Accumulated Other Comprehensive Income (Loss) [Line Items]
Balance, beginning of period	19,281,000
Other comprehensive (loss) income before reclassifications	(250,000)
Amounts reclassified from accumulated other comprehensive income (loss)	0
Net other comprehensive (loss) income	(250,000)
Balance, end of period	19,031,000
Accumulated Defined Benefit Plans Adjustment
Accumulated Other Comprehensive Income (Loss) [Line Items]
Balance, beginning of period	(8,360,000)
Other comprehensive (loss) income before reclassifications	0
Amounts reclassified from accumulated other comprehensive income (loss)	62,000
Net other comprehensive (loss) income	62,000
Balance, end of period	$ (8,298,000)

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Components of Other Operating Charges (Tables)

9 Months Ended

Sep. 26, 2014

Components of Other Operating Costs [Abstract]

Schedule of Other Operating Cost and Expense, by Component

Other operating charges incurred by operating segment were as follows:

	Three months ended				Nine months ended
	September 26, 2014		September 27, 2013		September 26, 2014		September 27, 2013
	(in thousands)
U.S. Residential Products	$	83	$	57	$	591	$	214
U.S. Commercial Products	177		69		646		364
European Roll Coated Aluminum	26		305		26		495
European Engineered Products	148		995		1,218		4,039
Other non-allocated	617		29		1,876		243
Total other operating charges	$	1,051	$	1,455	$	4,357	$	5,355

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Basis of Presentation and Principles of Consolidation

9 Months Ended

Sep. 26, 2014

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Basis of Presentation and Principles of Consolidation

Basis of Presentation and Principles of Consolidation

Basis of Presentation

The accompanying unaudited condensed consolidated financial statements of Euramax Holdings, Inc. and its subsidiaries (the “Company”) have been prepared in accordance with accounting principles generally accepted in the United States for interim financial information and with the rules and regulations of the Securities and Exchange Commission (the “SEC”). Accordingly, they do not include all information and footnotes required by U.S. generally accepted accounting principles for complete financial statements. In the opinion of management, these statements include all adjustments considered necessary for the fair presentation of all interim periods reported herein. All adjustments are of a normal recurring nature unless otherwise disclosed.

The Company’s sales volumes have historically been higher in the second and third quarters due to the seasonal demand of the building products markets served. Accordingly, results for the three and nine months ended September 26, 2014 are not necessarily indicative of the results that may be expected for the full year. Management believes that the disclosures made are adequate for a fair presentation of the Company’s results of operations, financial position and cash flows. These condensed consolidated financial statements should be read in conjunction with the Company’s Annual Report on Form 10-K for the year ended December 31, 2013.

Assets and liabilities of non-U.S. subsidiaries are translated to U.S. Dollars at the rate of exchange in effect on the balance sheet date. Income and expenses are translated to U.S. Dollars at the weighted average rates of exchange prevailing during the period. Foreign currency gains and losses resulting from the remeasurement of inter-company amounts that are not of a long-term investment nature into local currencies and certain indebtedness of foreign subsidiaries denominated in U.S. dollars are included in other (loss) income, net. Other (loss) income, net includes losses of $14.8 million and income of $8.9 million for the three months ended September 26, 2014 and September 27, 2013, respectively. Other (loss) income, net includes losses of $15.1 million and income of $4.1 million for the nine months ended September 26, 2014 and September 27, 2013, respectively. Foreign currency gains and losses resulting from transactions in the ordinary course of business are recorded in selling and general expenses. Foreign currency transaction gains and losses recorded in selling and general expenses were not significant for any period presented.

Principles of Consolidation

The accompanying condensed consolidated financial statements include the Company’s accounts and the accounts of its wholly-owned subsidiaries. All significant intercompany accounts and transactions have been eliminated in consolidation. Certain prior period amounts have been reclassified to conform to current period presentation. Each of our interim reporting periods, other than the fourth interim reporting period, ends on the Friday closest to the last day of the corresponding quarterly calendar period. The third quarter of 2014 and 2013 ended on September 26 and September 27, respectively. Our fourth interim reporting period and our fiscal year end on December 31 regardless of the day of the week on which it falls.

Recent Accounting Pronouncements

In May 2014, the FASB issued new revenue recognition guidance, which supersedes most current revenue recognition guidance, including industry-specific guidance, and requires entities to recognize revenue in a way that depicts the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. The new standard is effective for fiscal years, and interim periods within those years, beginning after December 15, 2016, and is to be applied retrospectively, with early application not permitted. The Company is currently assessing the impact of implementing this guidance on the Company's financial position, results of operations, and cash flows.

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Condensed Consolidated Balance Sheets (Parentheticals) (USD $) In Thousands, unless otherwise specified	Sep. 26, 2014	Dec. 31, 2013
Allowance for doubtful accounts	$ 1,541	$ 2,235

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Supplemental Guarantor Condensed Financial Information

9 Months Ended

Sep. 26, 2014

Supplemental Guarantor Condensed Financial Information [Abstract]

Supplemental Guarantor Condensed Financial Information

Supplemental Guarantor Condensed Financial Information

On March 18, 2011, Euramax Holdings (presented as Parent in the following schedules), through its 100% owned subsidiary, Euramax International (presented as Issuer in the following schedules), issued the Notes. The Notes are fully and unconditionally guaranteed, jointly and severally, on a senior secured basis by Euramax Holdings, Euramax International, and Amerimax Richmond Company, a 100% owned domestic subsidiary of Euramax International. No other subsidiaries of Euramax International, whether direct or indirect, guarantee the Notes (the "Non-Guarantor Subsidiaries").

Additionally, the Notes are secured on a second priority basis by liens on all of the collateral (subject to certain exceptions) securing the ABL Credit Facility. In the event that secured creditors exercise remedies with respect to Euramax International's pledged assets, the proceeds of the liquidation of those assets will first be applied to repay obligations secured by the first priority liens under the senior secured credit facilities and any other first priority obligations.

The Indenture contains restrictive covenants that limit, among other things, the ability of Euramax International and certain of its subsidiaries to incur additional indebtedness, pay dividends and make certain distributions, make other restricted payments, make investments, incur liens, consolidate, merge, sell or otherwise dispose of all or substantially all of its assets and enter into certain transactions with affiliates, in each case, subject to exclusions, and other customary covenants. These limitations also limit Euramax International's ability to transfer cash or assets to Euramax Holdings, whether by dividend, loan or otherwise.

The following supplemental condensed consolidating financial statements present the results of operations, comprehensive operations, financial position and cash flows of (1) the Parent, (2) the Issuer, (3) the Non-Guarantor Subsidiaries, and (4) eliminations to arrive at the information for Euramax Holdings on a consolidated basis.

EURAMAX HOLDINGS, INC. AND SUBSIDIARIES
SUPPLEMENTAL CONDENSED CONSOLIDATING BALANCE SHEETS

SEPTEMBER 26, 2014

(in thousands)

(unaudited)

	Parent			Issuer			Non-Guarantor			Eliminations			Total
ASSETS
Current assets:
Cash and cash equivalents	$	—		$	907		$	2,328		$	—		$	3,235
Accounts receivable, less allowance for doubtful accounts	—			69,856			41,311			—			111,167
Inventories, net	—			92,459			27,719			—			120,178
Income taxes receivable	—			542			—			—			542
Deferred income taxes	—			556			19			—			575
Other current assets	—			5,603			2,517			—			8,120
Total current assets	—			169,923			73,894			—			243,817
Property, plant and equipment, net	—			55,054			61,297			—			116,351
Amounts due from affiliates	—			207,556			18,594			(226,150		)	—
Goodwill	—			81,359			113,983			—			195,342
Customer relationships, net	—			18,776			11,166			—			29,942
Other intangible assets, net	—			6,599			—			—			6,599
Investment in consolidated subsidiaries	(141,507		)	(2,243		)	—			143,750			—
Deferred income taxes	—			—			419			—			419
Other assets	—			2,765			3,699			—			6,464
Total assets	$	(141,507	)	$	539,789		$	283,052		$	(82,400	)	$	598,934
LIABILITIES AND SHAREHOLDERS’ (DEFICIT) EQUITY
Current liabilities:
Accounts payable	$	—		$	71,145		$	23,541		$	—		$	94,686
Accrued expenses and other current liabilities	41			19,289			11,228			—			30,558
Accrued interest payable	—			21,736			34			—			21,770
Current portion of long-term debt	—			—			8,253			—			8,253
Deferred income taxes	—			—			559			—			559
Total current liabilities	41			112,170			43,615			—			155,826
Long-term debt	—			540,812			—			—			540,812
Amounts due to affiliates	5,625			11,403			209,122			(226,150		)	—
Deferred income taxes	—			10,450			7,709			—			18,159
Other liabilities	—			6,461			24,849			—			31,310
Total liabilities	5,666			681,296			285,295			(226,150		)	746,107
Shareholders’ (deficit) equity:
Common stock	195			—			21			(21		)	195
Additional paid-in capital	724,443			661,550			199,452			(861,002		)	724,443
Accumulated loss	(882,544		)	(813,790		)	(214,697		)	1,028,487			(882,544		)
Accumulated other comprehensive income	10,733			10,733			12,981			(23,714		)	10,733
Total shareholders’ (deficit) equity	(147,173		)	(141,507		)	(2,243		)	143,750			(147,173		)
Total liabilities and shareholders’ (deficit) equity	$	(141,507	)	$	539,789		$	283,052		$	(82,400	)	$	598,934

EURAMAX HOLDINGS, INC. AND SUBSIDIARIES
SUPPLEMENTAL CONDENSED CONSOLIDATING BALANCE SHEETS

DECEMBER 31, 2013
(in thousands)

	Parent			Issuer			Non-Guarantor			Eliminations			Total
ASSETS
Current assets:
Cash and cash equivalents	$	—		$	1,700		$	7,277		$	—		$	8,977
Accounts receivable, less allowance for doubtful accounts	—			35,012			38,984			—			73,996
Inventories, net	—			62,270			27,490			—			89,760
Income taxes receivable	—			341			641			—			982
Deferred income taxes	—			559			21			—			580
Other current assets	—			5,462			1,546			—			7,008
Total current assets	—			105,344			75,959			—			181,303
Property, plant and equipment, net	—			62,185			67,929			—			130,114
Amounts due from affiliates	—			229,101			18,828			(247,929		)	—
Goodwill	—			81,359			122,694			—			204,053
Customer relationships, net	—			24,626			16,005			—			40,631
Other intangible assets, net	—			7,073			—			—			7,073
Investment in consolidated subsidiaries	(103,217		)	2,407			—			100,810			—
Deferred income taxes	—			—			87			—			87
Other assets	—			4,185			4,527			—			8,712
Total assets	$	(103,217	)	$	516,280		$	306,029		$	(147,119	)	$	571,973
LIABILITIES AND SHAREHOLDERS' (DEFICIT) EQUITY
Current liabilities:
Accounts payable	$	—		$	30,312		$	26,950		$	—		$	57,262
Accrued expenses and other current liabilities	14			16,133			10,219			—			26,366
Accrued interest payable	—			8,973			47			—			9,020
Deferred income taxes	—			—			605			—			605
Total current liabilities	14			55,418			37,821			—			93,253
Long-term debt	—			535,396			—			—			535,396
Amounts due to affiliates	5,332			12,086			230,511			(247,929		)	—
Deferred income taxes	—			9,561			9,419			—			18,980
Other liabilities	—			7,036			25,871			—			32,907
Total liabilities	5,346			619,497			303,622			(247,929		)	680,536
Shareholders’ (deficit) equity:
Common stock	195			—			21			(21		)	195
Additional paid-in capital	724,071			661,180			199,452			(860,632		)	724,071
Accumulated loss	(843,750		)	(775,318		)	(210,242		)	985,560			(843,750		)
Accumulated other comprehensive income	10,921			10,921			13,176			(24,097		)	10,921
Total shareholders’ (deficit) equity	(108,563		)	(103,217		)	2,407			100,810			(108,563		)
Total liabilities and shareholders’ (deficit) equity	$	(103,217	)	$	516,280		$	306,029		$	(147,119	)	$	571,973

EURAMAX HOLDINGS, INC. AND SUBSIDIARIES
SUPPLEMENTAL CONDENSED CONSOLIDATING STATEMENTS OF OPERATIONSFOR THE THREE MONTHS ENDED SEPTEMBER 26, 2014
(in thousands)

(unaudited)

	Parent			Issuer			Non-Guarantor			Eliminations			Total
Net sales	$	—		$	177,682		$	64,674		$	(2,414	)	$	239,942
Costs and expenses:
Cost of goods sold (excluding depreciation and amortization)	—			150,361			54,213			(2,414		)	202,160
Selling and general (excluding depreciation and amortization)	102			11,722			5,589			—			17,413
Depreciation and amortization	—			5,406			2,736			—			8,142
Other operating charges	—			795			256			—			1,051
Income (loss) from operations	(102		)	9,398			1,880			—			11,176
Equity in earnings (losses) of subsidiaries	(16,304		)	(1,471		)	—			17,775			—
Interest expense	—			(13,571		)	(324		)	—			(13,895		)
Intercompany income (loss), net	—			4,486			(4,486		)	—			—
Other (loss) income, net	—			(15,023		)	967			—			(14,056		)
Loss before income taxes	(16,406		)	(16,181		)	(1,963		)	17,775			(16,775		)
(Benefit from) provision for income taxes	—			123			(492		)	—			(369		)
Net loss	$	(16,406	)	$	(16,304	)	$	(1,471	)	$	17,775		$	(16,406	)

EURAMAX HOLDINGS, INC. AND SUBSIDIARIES
SUPPLEMENTAL CONDENSED CONSOLIDATING STATEMENTS OF COMPREHENSIVE OPERATIONS

FOR THE THREE MONTHS ENDED SEPTEMBER 26, 2014
(in thousands)

(unaudited)

	Parent			Issuer			Non-Guarantor			Eliminations			Total
Net loss	$	(16,406	)	$	(16,304	)	$	(1,471	)	$	17,775		$	(16,406	)
Other comprehensive income:
Foreign currency translation adjustment	204			204			204			(408		)	204
Defined benefit pension plan adjustments, net of tax	21			21			18			(39		)	21
Total comprehensive loss	$	(16,181	)	$	(16,079	)	$	(1,249	)	$	17,328		$	(16,181	)

EURAMAX HOLDINGS, INC. AND SUBSIDIARIES
SUPPLEMENTAL CONDENSED CONSOLIDATING STATEMENTS OF OPERATIONSFOR THE THREE MONTHS ENDED SEPTEMBER 27, 2013
(in thousands)

(unaudited)

	Parent			Issuer			Non-Guarantor			Eliminations			Total
Net sales	$	—		$	165,866		$	64,365		$	(2,396	)	$	227,835
Costs and expenses:
Cost of goods sold (excluding depreciation and amortization)	—			137,171			54,017			(2,396		)	188,792
Selling and general (excluding depreciation and amortization)	325			13,686			6,376			—			20,387
Depreciation and amortization	—			5,579			2,935			—			8,514
Other operating charges	—			155			1,300			—			1,455
Income (loss) from operations	(325		)	9,275			(263		)	—			8,687
Equity in earnings (losses) of subsidiaries	16,584			(4,171		)	—			(12,413		)	—
Interest expense	—			(13,528		)	(277		)	—			(13,805		)
Intercompany income (loss), net	—			4,478			(4,478		)	—			—
Other income (loss), net	—			8,313			(18		)	—			8,295
Income (loss) before income taxes	16,259			4,367			(5,036		)	(12,413		)	3,177
Benefit from income taxes	—			(12,217		)	(865		)	—			(13,082		)
Net income (loss)	$	16,259		$	16,584		$	(4,171	)	$	(12,413	)	$	16,259

EURAMAX HOLDINGS, INC. AND SUBSIDIARIES
SUPPLEMENTAL CONDENSED CONSOLIDATING STATEMENTS OF COMPREHENSIVE OPERATIONS

FOR THE THREE MONTHS ENDED SEPTEMBER 27, 2013

(in thousands)

(unaudited)

	Parent			Issuer			Non-Guarantor			Eliminations			Total
Net income (loss)	$	16,259		$	16,584		$	(4,171	)	$	(12,413	)	$	16,259
Other comprehensive income (loss):
Foreign currency translation adjustment	(89		)	(89		)	(89		)	178			(89		)
Defined benefit pension plan adjustments, net of tax	81			81			8			(89		)	81
Total comprehensive income (loss)	$	16,251		$	16,576		$	(4,252	)	$	(12,324	)	$	16,251

EURAMAX HOLDINGS, INC. AND SUBSIDIARIES
SUPPLEMENTAL CONDENSED CONSOLIDATING STATEMENTS OF OPERATIONSFOR THE NINE MONTHS ENDED SEPTEMBER 26, 2014
(in thousands)

(unaudited)

	Parent			Issuer			Non-Guarantor			Eliminations			Total
Net sales	$	—		$	441,341		$	207,434		$	(5,939	)	$	642,836
Costs and expenses:
Cost of goods sold (excluding depreciation and amortization)	—			376,504			171,643			(5,939		)	542,208
Selling and general (excluding depreciation and amortization)	322			36,200			18,857			—			55,379
Depreciation and amortization	—			16,198			8,397			—			24,595
Other operating charges	—			3,031			1,326			—			4,357
Income (loss) from operations	(322		)	9,408			7,211			—			16,297
Equity in earnings (losses) of subsidiaries	(38,472		)	(4,455		)	—			42,927			—
Interest expense	—			(40,520		)	(1,054		)	—			(41,574		)
Intercompany income (loss), net	—			13,825			(13,825		)	—			—
Other (loss) income, net	—			(15,876		)	1,500			—			(14,376		)
Loss before income taxes	(38,794		)	(37,618		)	(6,168		)	42,927			(39,653		)
(Benefit from) provision for income taxes	—			854			(1,713		)	—			(859		)
Net loss	$	(38,794	)	$	(38,472	)	$	(4,455	)	$	42,927		$	(38,794	)

EURAMAX HOLDINGS, INC. AND SUBSIDIARIES
SUPPLEMENTAL CONDENSED CONSOLIDATING STATEMENTS OF COMPREHENSIVE OPERATIONS

FOR THE NINE MONTHS ENDED SEPTEMBER 26, 2014
(in thousands)

(unaudited)

	Parent			Issuer			Non-Guarantor			Eliminations			Total
Net loss	$	(38,794	)	$	(38,472	)	$	(4,455	)	$	42,927		$	(38,794	)
Other comprehensive (loss) income:
Foreign currency translation adjustment	(250		)	(250		)	(250		)	500			(250		)
Defined benefit pension plan adjustments, net of tax	62			62			55			(117		)	62
Total comprehensive loss	$	(38,982	)	$	(38,660	)	$	(4,650	)	$	43,310		$	(38,982	)

EURAMAX HOLDINGS, INC. AND SUBSIDIARIES
SUPPLEMENTAL CONDENSED CONSOLIDATING STATEMENTS OF OPERATIONSFOR THE NINE MONTHS ENDED SEPTEMBER 27, 2013
(in thousands)

(unaudited)

	Parent			Issuer			Non-Guarantor			Eliminations			Total
Net sales	$	—		$	429,300		$	206,908		$	(5,967	)	$	630,241
Costs and expenses:
Cost of goods sold (excluding depreciation and amortization)	—			361,266			173,124			(5,967		)	528,423
Selling and general (excluding depreciation and amortization)	513			40,416			18,838			—			59,767
Depreciation and amortization	—			16,712			8,845			—			25,557
Other operating charges	—			821			4,534			—			5,355
Income (loss) from operations	(513		)	10,085			1,567			—			11,139
Equity in earnings (losses) of subsidiaries	(12,900		)	(11,619		)	—			24,519			—
Interest expense	—			(40,384		)	(873		)	—			(41,257		)
Intercompany income (loss), net	—			13,158			(13,158		)	—			—
Other income (loss), net	—			4,891			(830		)	—			4,061
Loss before income taxes	(13,413		)	(23,869		)	(13,294		)	24,519			(26,057		)
Benefit from income taxes	—			(10,969		)	(1,675		)	—			(12,644		)
Net loss	$	(13,413	)	$	(12,900	)	$	(11,619	)	$	24,519		$	(13,413	)

EURAMAX HOLDINGS, INC. AND SUBSIDIARIES
SUPPLEMENTAL CONDENSED CONSOLIDATING STATEMENTS OF COMPREHENSIVE OPERATIONS

FOR THE NINE MONTHS ENDED SEPTEMBER 27, 2013

(in thousands)

(unaudited)

	Parent			Issuer			Non-Guarantor			Eliminations			Total
Net loss	$	(13,413	)	$	(12,900	)	$	(11,619	)	$	24,519		$	(13,413	)
Other comprehensive (loss) income:
Foreign currency translation adjustment	(431		)	(431		)	(431		)	862			(431		)
Defined benefit pension plan adjustments, net of tax	246			246			29			(275		)	246
Total comprehensive loss	$	(13,598	)	$	(13,085	)	$	(12,021	)	$	25,106		$	(13,598	)

EURAMAX HOLDINGS, INC. AND SUBSIDIARIES
SUPPLEMENTAL CONDENSED CONSOLIDATING STATEMENTS OF CASH FLOWSFOR THE NINE MONTHS ENDED SEPTEMBER 26, 2014
(in thousands)

(unaudited)

	Parent		Issuer			Non-Guarantor			Eliminations			Total
Net cash used in operating activities	$	—	$	(8,172	)	$	(6,143	)	$	—		$	(14,315	)
Cash flows from investing activities:
Proceeds from sale of assets	—		776			1			—			777
Capital expenditures	—		(3,239		)	(1,994		)	—			(5,233		)
Due from (to) affiliates	—		4,949			—			(4,949		)	—
Net cash (used in) provided by investing activities	—		2,486			(1,993		)	(4,949		)	(4,456		)
Cash flows from financing activities:
Net borrowings on Dutch Revolving Credit Facility	—		—			8,253			—			8,253
Net borrowings on ABL Credit Facility	—		4,981			—			—			4,981
Change in cash overdrafts	—		—			215			—			215
Debt issuance costs	—		(88		)	—			—			(88		)
Due (to) from affiliates	—		—			(4,949		)	4,949			—
Net cash provided by financing activities	—		4,893			3,519			4,949			13,361
Effect of exchange rate changes on cash	—		—			(332		)	—			(332		)
Net decrease in cash and cash equivalents	—		(793		)	(4,949		)	—			(5,742		)
Cash and cash equivalents at beginning of period	—		1,700			7,277			—			8,977
Cash and cash equivalents at end of period	$	—	$	907		$	2,328		$	—		$	3,235

EURAMAX HOLDINGS, INC. AND SUBSIDIARIES
SUPPLEMENTAL CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWSFOR THE NINE MONTHS ENDED SEPTEMBER 27, 2013
(in thousands)

(unaudited)

	Parent		Issuer			Non-Guarantor			Eliminations			Total
Net cash used in operating activities	$	—	$	(10,148	)	$	(6,588	)	$	—		$	(16,736	)
Cash flows from investing activities:
Proceeds from sale of assets	—		266			2,022			—			2,288
Capital expenditures	—		(4,379		)	(2,976		)	—			(7,355		)
Due from (to) affiliates	—		—			2,209			(2,209		)	—
Net cash (used in) provided by investing activities	—		(4,113		)	1,255			(2,209		)	(5,067		)
Cash flows from financing activities:
Net borrowings on ABL Credit Facility	—		19,514			—			—			19,514
Net borrowings on Dutch Revolving Credit Facility	—		—			1,836			—			1,836
Debt issuance costs	—		(175		)	—			—			(175		)
Due (to) from affiliates	—		(2,209		)	—			2,209			—
Net cash provided by financing activities	—		17,130			1,836			2,209			21,175
Effect of exchange rate changes on cash	—		—			64			—			64
Net (decrease) increase in cash and cash equivalents	—		2,869			(3,433		)	—			(564		)
Cash and cash equivalents at beginning of period	—		1,574			8,450			—			10,024
Cash and cash equivalents at end of period	$	—	$	4,443		$	5,017		$	—		$	9,460

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Document Entity Information	9 Months Ended
	Sep. 26, 2014	Nov. 07, 2014
Entity Information
Entity Registrant Name	Euramax Holdings, Inc.
Entity Central Index Key	0001026743
Current Fiscal Year End Date	--12-31
Entity Filer Category	Non-accelerated Filer
Document Type	10-Q
Document Period End Date	Sep. 26, 2014
Document Fiscal Year Focus	2014
Document Fiscal Period Focus	Q3
Amendment Flag	false
Entity Common Stock, Shares Outstanding		195,502

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Basis of Presentation and Principles of Consolidation (Policies)

9 Months Ended

Sep. 26, 2014

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Basis of Accounting, Policy

The accompanying unaudited condensed consolidated financial statements of Euramax Holdings, Inc. and its subsidiaries (the “Company”) have been prepared in accordance with accounting principles generally accepted in the United States for interim financial information and with the rules and regulations of the Securities and Exchange Commission (the “SEC”). Accordingly, they do not include all information and footnotes required by U.S. generally accepted accounting principles for complete financial statements. In the opinion of management, these statements include all adjustments considered necessary for the fair presentation of all interim periods reported herein. All adjustments are of a normal recurring nature unless otherwise disclosed.

Fiscal Period, Policy

Each of our interim reporting periods, other than the fourth interim reporting period, ends on the Friday closest to the last day of the corresponding quarterly calendar period. The third quarter of 2014 and 2013 ended on September 26 and September 27, respectively. Our fourth interim reporting period and our fiscal year end on December 31 regardless of the day of the week on which it falls.

Income Tax, Policy

The benefit from income taxes for 2014 and 2013 is computed at the effective rate expected to be applicable in each respective full year using the statutory rates on a country by country basis, adjusted for changes in valuation allowances relating to the Company’s net operating loss and capital loss carryforwards and changes in tax uncertainties.

Pension and Other Postretirement Plans, Pensions, Policy

The Company maintains a non-contributory defined benefit pension plan covering substantially all U.S. hourly employees (the "U.S. Plan"). In addition, the employees at Euramax Coated Products Limited and Ellbee Limited participate in a single employer pension plan (the "UK Plan"). The measurement date for the U.S. and UK plans is the last day of the fiscal year. The Company curtailed the accrual of participant benefits provided under the UK Plan effective March 31, 2009. This curtailment did not affect the timing for the payment of benefits earned under the UK Plan through the curtailment date. In January 2010, the Company's board of directors approved a motion to freeze future benefit accruals under the U.S. Plan.

Fair Value Measurement, Policy

In addition to assets and liabilities that are recorded at fair value on a recurring basis, the Company records assets and liabilities at fair value on a nonrecurring basis as required by accounting principles generally accepted in the U.S. Generally, adjustments made to record assets at fair value on a nonrecurring basis are the result of impairment charges.

Recurring Fair Value Measurements

In accordance with accounting principles generally accepted in the U.S., certain assets and liabilities are required to be recorded at fair value on a recurring basis. For the Company, the only assets and liabilities that are adjusted to fair value on a recurring basis are derivative financial instruments.

The carrying amounts of cash and cash equivalents, receivables, accounts payable and accrued expenses, and loans and notes payable approximate their fair values because of the relatively short-term maturities of these instruments.

New Accounting Pronouncements, Policy

In May 2014, the FASB issued new revenue recognition guidance, which supersedes most current revenue recognition guidance, including industry-specific guidance, and requires entities to recognize revenue in a way that depicts the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. The new standard is effective for fiscal years, and interim periods within those years, beginning after December 15, 2016, and is to be applied retrospectively, with early application not permitted. The Company is currently assessing the impact of implementing this guidance on the Company's financial position, results of operations, and cash flows.

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Condensed Consolidated Statements of Operations (USD $) In Thousands, unless otherwise specified	3 Months Ended		9 Months Ended
	Sep. 26, 2014	Sep. 27, 2013	Sep. 26, 2014	Sep. 27, 2013
Net sales	$ 239,942	$ 227,835	$ 642,836	$ 630,241
Costs and expenses:
Cost of goods sold (excluding depreciation and amortization)	202,160	188,792	542,208	528,423
Selling and general (excluding depreciation and amortization)	17,413	20,387	55,379	59,767
Depreciation and amortization	8,142	8,514	24,595	25,557
Other operating charges	1,051	1,455	4,357	5,355
Income from operations	11,176	8,687	16,297	11,139
Interest expense	(13,895)	(13,805)	(41,574)	(41,257)
Other (loss) income, net	(14,056)	8,295	(14,376)	4,061
(Loss) income before income taxes	(16,775)	3,177	(39,653)	(26,057)
Benefit from income taxes	(369)	(13,082)	(859)	(12,644)
Net (loss) income	$ (16,406)	$ 16,259	$ (38,794)	$ (13,413)

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Accumulated Other Comprehensive Income

9 Months Ended

Sep. 26, 2014

Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract]

Accumulated Other Comprehensive Income

Accumulated Other Comprehensive Income

Changes in accumulated other comprehensive income (loss) by component for the nine month period ended September 26, 2014 were as follows:

	Foreign Currency Translation Adjustments			Defined Benefit Pension Plan Adjustments			Total
	(in thousands)
Balance, beginning of period	$	19,281		$	(8,360	)	$	10,921
Other comprehensive (loss) income before reclassifications	(250		)	—			(250		)
Amounts reclassified from accumulated other comprehensive income (loss)	—			62			62
Net other comprehensive (loss) income	(250		)	62			(188		)
Balance, end of period	$	19,031		$	(8,298	)	$	10,733

Amounts reclassified from the defined benefit pension plan adjustments component of accumulated other comprehensive income (loss) were recorded in selling and general expenses within the condensed consolidated statement of operations. There were no net tax effects related to the reclassification as a result of the full valuation allowances in the U.S. and UK in the current year. The accumulated tax effect related to the defined benefit pension plan adjustments component of accumulated other comprehensive income (loss) was a provision of $0.3 million as of September 26, 2014 and December 31, 2013. There are no tax impacts related to the foreign currency translation adjustment component of accumulated other comprehensive income (loss) as the earnings of subsidiaries are considered to be permanently invested.

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Income Taxes

9 Months Ended

Sep. 26, 2014

Income Tax Disclosure [Abstract]

Income Taxes

Income Taxes

The benefit from income taxes for 2014 and 2013 is computed at the effective rate expected to be applicable in each respective full year using the statutory rates on a country by country basis, adjusted for changes in valuation allowances relating to the Company’s net operating loss and capital loss carryforwards and changes in tax uncertainties. The effective rates for the three month periods ended September 26, 2014 and September 27, 2013 were a benefit of 2.2% and 411.8%, respectively.

The effective rate for the three months ended September 26, 2014 differed from the U.S. statutory rate primarily due to state income taxes, lower tax rates of our foreign operations compared to the U.S. federal rates, and recognition of valuation allowances related to net losses in the UK and in U.S. federal and state jurisdictions.

The effective rate for the three months ended September 27, 2013 differed from the U.S. statutory rate primarily due to the reversal of an uncertain tax position as a result of the expiration of statute of limitations. During the three months ended September 27, 2013, the statute of limitations expired for an uncertain tax position taken in a prior year. As a result, the Company recognized $9.0 million in previously unrecognized tax benefit and an additional $3.4 million related to the reversal of accrued interest and penalties associated with the position during the quarter. Other factors impacting the effective rate include state income taxes, lower tax rates of our foreign operations as compared to the U.S. federal rates, and recognition of valuation allowances related to current year losses in the UK and in U.S. federal and state jurisdictions.

The effective tax rates for the nine month periods ended September 26, 2014 and September 27, 2013 were a benefit of 2.2% and 48.5%, respectively.

The effective rate for the nine months ended September 26, 2014 differed from the U.S. statutory rate primarily due to state income taxes, lower tax rates of our foreign operations compared to the U.S. federal rates, and recognition of valuation allowances related to net losses in the UK and in U.S. federal and state jurisdictions.

The effective rate for the nine months ended September 27, 2013 differed from the U.S. statutory rate due to the reversal of various uncertain tax positions, primarily relating to the expiration of certain statutes of limitations. During the nine months months ended September 27, 2013, the statute of limitations expired for an uncertain tax position taken in a prior year. As a result, the Company recognized $9.0 million in previously unrecognized tax benefit and an additional $3.4 million related to the reversal of accrued interest and penalties associated with the position. Other factors impacting the effective rate include state income taxes, lower tax rates of our foreign operations as compared to the U.S. federal rates, and valuation allowances related to current year losses in the UK and in U.S. federal and state jurisdictions.

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Employee Benefit Plans (Tables)

9 Months Ended

Sep. 26, 2014

Compensation and Retirement Disclosure [Abstract]

Schedule of Net Benefit Costs

Components of net periodic pension cost for the Company’s defined and multiemployer pension plans were as follows:

	Three months ended												Nine months ended
	September 26, 2014						September 27, 2013						September 26, 2014						September 27, 2013
	U.S. Plan			UK Plan			U.S. Plan			UK Plan			U.S. Plan			UK Plan			U.S. Plan			UK Plan
	(in thousands)
Service cost	$	14		$	—		$	16		$	—		$	42		$	—		$	48		$	—
Interest cost	141			559			130			527			421			1,673			390			1,582
Expected return on assets	(185		)	(472		)	(156		)	(411		)	(557		)	(1,412		)	(468		)	(1,233		)
Recognized actuarial net loss	3			18			73			8			7			55			217			29
Total defined benefit net periodic pension cost	(27		)	105			63			124			(87		)	316			187			378
Multiemployer benefit expense	324			—			313			—			893			—			860			—
Net periodic pension cost	$	297		$	105		$	376		$	124		$	806		$	316		$	1,047		$	378

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Inventories (Tables)

9 Months Ended

Sep. 26, 2014

Inventory Disclosure [Abstract]

Schedule of Inventory, Current

Inventories were comprised of:

	September 26, 2014		December 31, 2013
	(in thousands)
Aluminum and steel coil	$	80,783	$	58,153
Raw materials	17,782		15,291
Work in process	3,283		1,936
Finished products	18,330		14,380
Total inventories, net	$	120,178	$	89,760

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Other Operating Charges

9 Months Ended

Sep. 26, 2014

Component Of Other Operating Cost And Expense [Abstract]

Other Operating Charges

Other Operating Charges

Other operating charges incurred by operating segment were as follows:

	Three months ended				Nine months ended
	September 26, 2014		September 27, 2013		September 26, 2014		September 27, 2013
	(in thousands)
U.S. Residential Products	$	83	$	57	$	591	$	214
U.S. Commercial Products	177		69		646		364
European Roll Coated Aluminum	26		305		26		495
European Engineered Products	148		995		1,218		4,039
Other non-allocated	617		29		1,876		243
Total other operating charges	$	1,051	$	1,455	$	4,357	$	5,355

Other operating charges are comprised of restructuring initiatives, facility closures, and other operational initiatives. In the second quarter of 2014, after an ongoing review of its North American operations, the Company took steps to rationalize its workforce and to invest in select value-creating officer roles. These actions led to the elimination of certain non-essential salaried positions in the Company's North America business segments and at its Corporate Headquarters in Norcross, GA. The Company believes the elimination of certain non-essential salaried positions in the Company's North American business will result in a more competitive platform that provides both meaningful operational and cost benefits. Total severance and related costs incurred in the nine months ended September 26, 2014 related to the work force rationalization totaled approximately $1.0 million and are recorded within other operating charges in the Company’s condensed consolidated statement of operations. Total severance on a segment basis is disclosed in the following paragraphs.

For the three months ended September 26, 2014, other operating charges of $1.1 million were primarily comprised of severance costs and legal and professional fees. Other non-allocated charges of $0.6 million were primarily related to professional fees for consulting services during the executive transition period. The remaining $0.5 million was related to severance and relocation costs for various organizational initiatives in the U.S. and Europe to reduce operating costs and improve efficiencies.

For the three months ended September 27, 2013, other operating charges of $1.5 million were primarily comprised of ongoing restructuring and relocation initiatives in the European Engineered Products segment including approximately $0.8 million of severance and relocation costs associated with the relocation from multiple plant facilities in the UK into one operating location and $0.2 million of severance costs for various social programs in France. The remaining $0.5 million of other operating costs in the third quarter of 2013 were comprised primarily of severance and relocation costs related to various organizational initiatives in the European Roll Coated Aluminum segment and in the U.S. to reduce operating costs and improve efficiencies.

For the nine months ended September 26, 2014, other operating charges of $4.4 million were primarily comprised of severance costs and legal and professional fees. Other non-allocated charges of $1.9 million were made up of severance and professional fees for consulting services during the executive transition period. Ongoing restructuring initiatives in the European Engineered Products segment totaled $1.3 million, including approximately $0.8 million of severance costs for various social programs in France and $0.5 million of severance in the UK. The remaining other operating charges in the first nine months of 2014 were comprised of $1.2 million in severance and relocation costs in the U.S. primarily related to the workforce rationalization and organizational initiatives to reduce operating costs and improve efficiencies. Total costs related to the workforce rationalization for the nine months ended September 26, 2014 include $0.4 million in the Residential Products segment, $0.4 million in the Commercial Products segment, and $0.2 million in other non-allocated charges for corporate employees.

For the nine months ended September 27, 2013, other operating charges of $5.4 million were primarily comprised of restructuring and relocation initiatives in the European Engineered Products segment, including a $1.6 million loss related to the sale of land and buildings, $2.0 million of severance, relocation, and other restructuring charges related to the relocation from multiple plant facilities in the UK into one operating location, and $0.5 million of severance costs for various social programs in France. The remaining other operating charges in the first nine months of 2013 were comprised of $1.3 million in severance and relocation costs in both the U.S. and Europe related to various organizational initiatives to reduce operating costs and improve efficiencies.

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Employee Benefit Plans

9 Months Ended

Sep. 26, 2014

Compensation and Retirement Disclosure [Abstract]

Employee Benefit Plans

Employee Benefit Plans

Retirement Plans

The Company maintains a non-contributory defined benefit pension plan covering substantially all U.S. hourly employees (the "U.S. Plan"). In addition, the employees at Euramax Coated Products Limited and Ellbee Limited participate in a single employer pension plan (the "UK Plan"). The measurement date for the U.S. and UK plans is the last day of the fiscal year. The Company curtailed the accrual of participant benefits provided under the UK Plan effective March 31, 2009. This curtailment did not affect the timing for the payment of benefits earned under the UK Plan through the curtailment date. In January 2010, the Company's board of directors approved a motion to freeze future benefit accruals under the U.S. Plan. The impact on the Company's projected benefit obligation was not significant. Components of net periodic pension cost for the Company’s defined and multiemployer pension plans were as follows:

	Three months ended												Nine months ended
	September 26, 2014						September 27, 2013						September 26, 2014						September 27, 2013
	U.S. Plan			UK Plan			U.S. Plan			UK Plan			U.S. Plan			UK Plan			U.S. Plan			UK Plan
	(in thousands)
Service cost	$	14		$	—		$	16		$	—		$	42		$	—		$	48		$	—
Interest cost	141			559			130			527			421			1,673			390			1,582
Expected return on assets	(185		)	(472		)	(156		)	(411		)	(557		)	(1,412		)	(468		)	(1,233		)
Recognized actuarial net loss	3			18			73			8			7			55			217			29
Total defined benefit net periodic pension cost	(27		)	105			63			124			(87		)	316			187			378
Multiemployer benefit expense	324			—			313			—			893			—			860			—
Net periodic pension cost	$	297		$	105		$	376		$	124		$	806		$	316		$	1,047		$	378

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Fair Value Measurements

9 Months Ended

Sep. 26, 2014

Fair Value Disclosures [Abstract]

Fair Value Measurements

Fair Value Measurements

Recurring Fair Value Measurements

In accordance with accounting principles generally accepted in the U.S., certain assets and liabilities are required to be recorded at fair value on a recurring basis. For the Company, the only assets and liabilities that are adjusted to fair value on a recurring basis are derivative financial instruments.

Derivative Financial Instruments

The Company is directly and indirectly affected by changes in certain market conditions. These changes in market conditions may adversely impact the Company's financial performance and are referred to as "market risks." The Company, when deemed appropriate, uses derivatives as a risk management tool to mitigate the potential impact of certain market risks. The primary market risk managed by the Company through the use of derivative instruments is foreign currency exchange rate risk related to intercompany interest payments. The Company does not enter into derivative contracts for trading purposes.

The Company has entered into forward contracts to buy or sell a quantity of a currency at a predetermined future date, and at a predetermined rate or price to mitigate uncertainty and volatility, and to cover underlying exposures to certain payments in currencies other than the functional currency. The Company has not designated these contracts for hedge accounting treatment and, therefore, the gains and losses on these contracts are recorded in other income (loss), net in the condensed consolidated statement of operations. For the three months ended September 26, 2014 and September 27, 2013, the Company recognized gains of $0.7 million and losses of $0.3 million, respectively, related to these forward contracts. For the nine months ended September 26, 2014 and September 27, 2013, the Company recognized gains of $0.7 million and losses of $0.2 million, respectively, related to these forward contracts.

Derivatives are carried at fair value in the condensed consolidated balance sheet in the line item other current assets or accrued liabilities, as applicable. As of September 26, 2014 and December 31, 2013, the fair value of outstanding derivatives totaled assets of $0.5 million and liabilities of $0.2 million, respectively. The fair value of foreign exchange contracts is determined using quoted prices for similar contracts obtained from financial institutions and is classified as a Level 2 measurement in the fair value hierarchy.

Nonrecurring Fair Value Measurements

In addition to assets and liabilities that are recorded at fair value on a recurring basis, the Company records assets and liabilities at fair value on a nonrecurring basis as required by accounting principles generally accepted in the U.S. Generally, adjustments made to record assets at fair value on a nonrecurring basis are the result of impairment charges.

The Company did not record any impairment charges related to assets measured at fair value on a nonrecurring basis during the three or nine months ended September 26, 2014. During the first quarter of 2013, the Company recorded losses of approximately $1.6 million in other operating charges related to the reclassification of land and buildings to assets held for sale. These losses, incurred as part of the Company's restructuring activities in the European Engineered Products segment, represented the difference between the carrying value prior to the reclassification and the fair value. The fair value was determined based on the selling price less costs incurred to sell and was classified as Level 1 in the fair value hierarchy. The assets were sold during the second quarter of 2013 and no additional losses were recorded from the sale of the assets.

Other Fair Value Disclosures

The carrying amounts of cash and cash equivalents, receivables, accounts payable and accrued expenses, and loans and notes payable approximate their fair values because of the relatively short-term maturities of these instruments.

The fair value of our long-term debt is estimated using Level 2 inputs based on dealer quoted prices for our debt instruments based on recent transactions obtained from various sources. As of September 26, 2014, the carrying amount and fair value of our Senior Secured Notes, were $375.0 million and $363.8 million, respectively. As of December 31, 2013, the carrying amount and fair value of our Senior Secured Notes, were $375.0 million and $375.0 million, respectively.

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Segment Information

9 Months Ended

Sep. 26, 2014

Segment Reporting [Abstract]

Segment Information

Segment Information

The Company manages its business and serves its customers through reportable segments differentiated by product type, end market, and geography. The Company's four reportable segments are described below:

U.S. Residential Products—The U.S. Residential Products segment utilizes aluminum, steel, copper and vinyl to produce residential roof drainage products, including preformed gutters, downspouts, elbows, soffit, drip edge, fascia, flashing, snow guards and related accessories. These products are used primarily for the repair, replacement or enhancement of residential roof drainage systems. The Company sells these products to home improvement retailers, lumber yards, distributors and contractors from manufacturing and distribution facilities throughout North America. The Company also produces specialty made-to-order vinyl replacement windows and aluminum patio and awning components sold primarily to home improvement contractors in the western U.S.

U.S. Commercial Products—The U.S. Commercial Products segment utilizes various materials including steel coil, aluminum coil and fiberglass to create various products with commercial applications, including roofing and siding panels, ridge caps, flashing, trim, soffit and other accessories as well as sidewall components, siding and other exterior components for the towable RV, cargo and manufactured housing markets. The Company sells these products to builders, contractors, lumber yards, home improvement retailers, OEMs, and RV manufacturers from manufacturing and distribution facilities located throughout the U.S. These products are used in the construction of a wide variety of small scale commercial, agricultural and industrial building types on either wood or metal frames, manufactured homes, and towable RVs.

European Roll Coated Aluminum—The European Roll Coated Aluminum segment uses a roll coating process to apply paint to bare aluminum coil and, to a lesser extent, bare steel coil in order to produce specialty coated coil, which the Company also processes into specialty coated sheets and panels. The Company sells these products to building panel manufacturers, contractors and UK “holiday home,” RV and transportation OEMs throughout Europe and in parts of Asia. The Company’s customers use its specialty coated metal products to manufacture, among other things, RV sidewalls, commercial roofing panels, interior ceiling panels, and liner panels for shipping containers. The Company produces and distributes these roll coated products from facilities located in the Netherlands and the UK.

European Engineered Products—The European Engineered Products segment utilizes aluminum and vinyl extrusions to produce residential windows, doors and shower enclosures. These products are sold to home improvement retailers, distributors and factory‑built “holiday home” builders in the UK. The Company also produces windows used in the operator compartments of heavy equipment, components sold to suppliers of automotive OEMs in Western Europe and RV doors. The Company produces and distributes these engineered products from facilities in France and the UK and has developed extensive in-house manufacturing capabilities, including powder coating, glass cutting, anodizing and glass toughening.

The Company evaluates the performance of its segments and allocates resources to them based primarily on segment income (loss) from operations. Expenses, income and assets that are not segment specific relate to the holding company and business activities conducted for the overall benefit of the Company, and accordingly, are not attributable to the Company’s segments.

The following table presents information about reported segments for the three months ended September 26, 2014:

	U.S. Residential Products		U.S. Commercial Products		European Roll Coated Aluminum		European Engineered Products		Other Non- Allocated			Eliminations			Consolidated
Three months ended September 26, 2014	(in thousands)
Net sales:
Third party	$	94,126	$	85,633	$	44,710	$	15,473	$	—		$	—		$	239,942
Intersegment	218		40		176		—		—			(434		)	—
Total net sales	$	94,344	$	85,673	$	44,886	$	15,473	$	—		$	(434	)	$	239,942
Income (loss) from operations	$	9,660	$	2,213	$	1,979	$	325	$	(3,001	)	$	—		$	11,176
Depreciation and amortization	$	2,790	$	2,707	$	2,299	$	398	$	(52	)	$	—		$	8,142
Capital expenditures	$	301	$	641	$	415	$	248	$	667		$	—		$	2,272

The following table presents information about reported segments for the three months ended September 27, 2013:

	U.S. Residential Products		U.S. Commercial Products		European Roll Coated Aluminum		European Engineered Products			Other Non- Allocated			Eliminations			Consolidated
Three months ended September 27, 2013	(in thousands)
Net sales:
Third party	$	87,518	$	80,717	$	45,660	$	13,940		$	—		$	—		$	227,835
Intersegment	188		58		87		—			—			(333		)	—
Total net sales	$	87,706	$	80,775	$	45,747	$	13,940		$	—		$	(333	)	$	227,835
Income (loss) from operations	$	9,281	$	2,251	$	1,782	$	(1,612	)	$	(3,015	)	$	—		$	8,687
Depreciation and amortization	$	2,891	$	2,628	$	2,435	$	401		$	159		$	—		$	8,514
Capital expenditures	$	873	$	361	$	717	$	180		$	266		$	—		$	2,397

The following table presents information about reported segments for the nine months ended September 26, 2014:

	U.S. Residential Products		U.S. Commercial Products			European Roll Coated Aluminum		European Engineered Products			Other Non- Allocated			Eliminations			Consolidated
Nine months ended September 26, 2014	(in thousands)
Net sales:
Third party	$	230,235	$	216,699		$	146,258	$	49,644		$	—		$	—		$	642,836
Intersegment	614		100			472		—			—			(1,186		)	—
Total net sales	$	230,849	$	216,799		$	146,730	$	49,644		$	—		$	(1,186	)	$	642,836
Income (loss) from operations	$	17,938	$	(1,003	)	$	9,297	$	(619	)	$	(9,316	)	$	—		$	16,297
Depreciation and amortization	$	8,246	$	7,564		$	7,010	$	1,261		$	514		$	—		$	24,595
Capital expenditures	$	961	$	1,344		$	1,220	$	730		$	978		$	—		$	5,233

The following table presents information about reported segments for the nine months ended September 27, 2013:

	U.S. Residential Products		U.S. Commercial Products			European Roll Coated Aluminum		European Engineered Products			Other Non- Allocated			Eliminations			Consolidated
Nine months ended September 27, 2013	(in thousands)
Net sales:
Third party	$	226,203	$	209,217		$	145,238	$	49,583		$	—		$	—		$	630,241
Intersegment	522		356			192		—			—			(1,070		)	—
Total net sales	$	226,725	$	209,573		$	145,430	$	49,583		$	—		$	(1,070	)	$	630,241
Income (loss) from operations	$	18,857	$	(1,830	)	$	7,422	$	(5,144	)	$	(8,166	)	$	—		$	11,139
Depreciation and amortization	$	8,721	$	7,866		$	7,149	$	1,397		$	424		$	—		$	25,557
Capital expenditures	$	2,076	$	1,367		$	2,527	$	396		$	989		$	—		$	7,355

It is impractical for the Company to provide revenues from external customers by groups of similar products. Accordingly, the following table reflects revenues from external customers by markets for the periods indicated:

		Three months ended				Nine months ended
Customers/Markets	Primary Products	September 26, 2014		September 27, 2013		September 26, 2014		September 27, 2013
		(in thousands)
Home Improvement Retailers	Rain carrying systems, metal panels, roofing accessories, windows, doors and shower enclosures	$	54,934	$	57,449	$	135,000	$	145,995
Rural Contractors	Steel and aluminum roofing and siding	46,974		44,029		103,001		97,932
Original Equipment Manufacturers (“OEMs”)	Painted aluminum sheet and coil; fabricated painted aluminum, laminated and fiberglass panels; windows and roofing; and composite building panels	46,033		45,474		158,330		149,791
Industrial and Architectural Contractors	Metal panels and siding and roofing accessories	38,168		37,926		110,410		112,721
Distributors	Metal coils, rain carrying systems and roofing accessories	31,043		25,096		73,296		67,121
Home Improvement Contractors	Vinyl replacement windows; metal coils, rain carrying systems; metal roofing and insulated roofing panels; shower, patio and entrance doors; and awnings	13,918		11,546		37,275		31,971
Manufactured Housing	Steel siding and trim components	8,872		6,315		25,524		24,710
		$	239,942	$	227,835	$	642,836	$	630,241

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Commitments and Contingencies (Details) (USD $) In Thousands, unless otherwise specified	0 Months Ended	3 Months Ended		9 Months Ended
	Sep. 25, 1996 sites	Sep. 26, 2014	Sep. 27, 2013	Sep. 26, 2014	Sep. 27, 2013
Commitments and Contingencies Disclosure [Abstract]
Number of National Priorities List sites for which the Company is indemnified for substantially all costs related to specifically identified environmental matters	11
Number of National Priorities List sites for which the Company is indemnified for certain potential costs related to specifically identified environmental matters	9
Movement in Standard and Extended Product Warranty, Increase (Decrease) [Roll Forward]
Balance, beginning of period		$ 4,946	$ 5,047	$ 5,326	$ 5,098
Payments made or service provided		754	(734)	(2,309)	(2,565)
Warranty expense		692	997	1,867	2,838
Foreign currency translation		(88)	93	(88)	32
Balance, end of period		$ 4,796	$ 5,403	$ 4,796	$ 5,403

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Commitments and Contingencies (Tables)

9 Months Ended

Sep. 26, 2014

Commitments and Contingencies Disclosure [Abstract]

Schedule of Product Warranty Liability

Changes in the product warranty accrual are summarized as follows:

	Three months ended						Nine months ended
	September 26, 2014			September 27, 2013			September 26, 2014			September 27, 2013
	(in thousands)
Balance, beginning of period	$	4,946		$	5,047		$	5,326		5,098
Payments made or service provided	(754		)	(734		)	(2,309		)	(2,565		)
Warranty expense	692			997			1,867			2,838
Foreign currency translation	(88		)	93			(88		)	32
Balance, end of period	$	4,796		$	5,403		$	4,796		$	5,403

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Supplemental Guarantor Condensed Financial Information (Tables)

9 Months Ended

Sep. 26, 2014

Supplemental Guarantor Condensed Financial Information [Abstract]

Schedule of Condensed Balance Sheet

EURAMAX HOLDINGS, INC. AND SUBSIDIARIES
SUPPLEMENTAL CONDENSED CONSOLIDATING BALANCE SHEETS

SEPTEMBER 26, 2014

(in thousands)

(unaudited)

	Parent			Issuer			Non-Guarantor			Eliminations			Total
ASSETS
Current assets:
Cash and cash equivalents	$	—		$	907		$	2,328		$	—		$	3,235
Accounts receivable, less allowance for doubtful accounts	—			69,856			41,311			—			111,167
Inventories, net	—			92,459			27,719			—			120,178
Income taxes receivable	—			542			—			—			542
Deferred income taxes	—			556			19			—			575
Other current assets	—			5,603			2,517			—			8,120
Total current assets	—			169,923			73,894			—			243,817
Property, plant and equipment, net	—			55,054			61,297			—			116,351
Amounts due from affiliates	—			207,556			18,594			(226,150		)	—
Goodwill	—			81,359			113,983			—			195,342
Customer relationships, net	—			18,776			11,166			—			29,942
Other intangible assets, net	—			6,599			—			—			6,599
Investment in consolidated subsidiaries	(141,507		)	(2,243		)	—			143,750			—
Deferred income taxes	—			—			419			—			419
Other assets	—			2,765			3,699			—			6,464
Total assets	$	(141,507	)	$	539,789		$	283,052		$	(82,400	)	$	598,934
LIABILITIES AND SHAREHOLDERS’ (DEFICIT) EQUITY
Current liabilities:
Accounts payable	$	—		$	71,145		$	23,541		$	—		$	94,686
Accrued expenses and other current liabilities	41			19,289			11,228			—			30,558
Accrued interest payable	—			21,736			34			—			21,770
Current portion of long-term debt	—			—			8,253			—			8,253
Deferred income taxes	—			—			559			—			559
Total current liabilities	41			112,170			43,615			—			155,826
Long-term debt	—			540,812			—			—			540,812
Amounts due to affiliates	5,625			11,403			209,122			(226,150		)	—
Deferred income taxes	—			10,450			7,709			—			18,159
Other liabilities	—			6,461			24,849			—			31,310
Total liabilities	5,666			681,296			285,295			(226,150		)	746,107
Shareholders’ (deficit) equity:
Common stock	195			—			21			(21		)	195
Additional paid-in capital	724,443			661,550			199,452			(861,002		)	724,443
Accumulated loss	(882,544		)	(813,790		)	(214,697		)	1,028,487			(882,544		)
Accumulated other comprehensive income	10,733			10,733			12,981			(23,714		)	10,733
Total shareholders’ (deficit) equity	(147,173		)	(141,507		)	(2,243		)	143,750			(147,173		)
Total liabilities and shareholders’ (deficit) equity	$	(141,507	)	$	539,789		$	283,052		$	(82,400	)	$	598,934

EURAMAX HOLDINGS, INC. AND SUBSIDIARIES
SUPPLEMENTAL CONDENSED CONSOLIDATING BALANCE SHEETS

DECEMBER 31, 2013
(in thousands)

	Parent			Issuer			Non-Guarantor			Eliminations			Total
ASSETS
Current assets:
Cash and cash equivalents	$	—		$	1,700		$	7,277		$	—		$	8,977
Accounts receivable, less allowance for doubtful accounts	—			35,012			38,984			—			73,996
Inventories, net	—			62,270			27,490			—			89,760
Income taxes receivable	—			341			641			—			982
Deferred income taxes	—			559			21			—			580
Other current assets	—			5,462			1,546			—			7,008
Total current assets	—			105,344			75,959			—			181,303
Property, plant and equipment, net	—			62,185			67,929			—			130,114
Amounts due from affiliates	—			229,101			18,828			(247,929		)	—
Goodwill	—			81,359			122,694			—			204,053
Customer relationships, net	—			24,626			16,005			—			40,631
Other intangible assets, net	—			7,073			—			—			7,073
Investment in consolidated subsidiaries	(103,217		)	2,407			—			100,810			—
Deferred income taxes	—			—			87			—			87
Other assets	—			4,185			4,527			—			8,712
Total assets	$	(103,217	)	$	516,280		$	306,029		$	(147,119	)	$	571,973
LIABILITIES AND SHAREHOLDERS' (DEFICIT) EQUITY
Current liabilities:
Accounts payable	$	—		$	30,312		$	26,950		$	—		$	57,262
Accrued expenses and other current liabilities	14			16,133			10,219			—			26,366
Accrued interest payable	—			8,973			47			—			9,020
Deferred income taxes	—			—			605			—			605
Total current liabilities	14			55,418			37,821			—			93,253
Long-term debt	—			535,396			—			—			535,396
Amounts due to affiliates	5,332			12,086			230,511			(247,929		)	—
Deferred income taxes	—			9,561			9,419			—			18,980
Other liabilities	—			7,036			25,871			—			32,907
Total liabilities	5,346			619,497			303,622			(247,929		)	680,536
Shareholders’ (deficit) equity:
Common stock	195			—			21			(21		)	195
Additional paid-in capital	724,071			661,180			199,452			(860,632		)	724,071
Accumulated loss	(843,750		)	(775,318		)	(210,242		)	985,560			(843,750		)
Accumulated other comprehensive income	10,921			10,921			13,176			(24,097		)	10,921
Total shareholders’ (deficit) equity	(108,563		)	(103,217		)	2,407			100,810			(108,563		)
Total liabilities and shareholders’ (deficit) equity	$	(103,217	)	$	516,280		$	306,029		$	(147,119	)	$	571,973

Schedule of Condensed Income Statement

EURAMAX HOLDINGS, INC. AND SUBSIDIARIES
SUPPLEMENTAL CONDENSED CONSOLIDATING STATEMENTS OF OPERATIONSFOR THE NINE MONTHS ENDED SEPTEMBER 26, 2014
(in thousands)

(unaudited)

	Parent			Issuer			Non-Guarantor			Eliminations			Total
Net sales	$	—		$	441,341		$	207,434		$	(5,939	)	$	642,836
Costs and expenses:
Cost of goods sold (excluding depreciation and amortization)	—			376,504			171,643			(5,939		)	542,208
Selling and general (excluding depreciation and amortization)	322			36,200			18,857			—			55,379
Depreciation and amortization	—			16,198			8,397			—			24,595
Other operating charges	—			3,031			1,326			—			4,357
Income (loss) from operations	(322		)	9,408			7,211			—			16,297
Equity in earnings (losses) of subsidiaries	(38,472		)	(4,455		)	—			42,927			—
Interest expense	—			(40,520		)	(1,054		)	—			(41,574		)
Intercompany income (loss), net	—			13,825			(13,825		)	—			—
Other (loss) income, net	—			(15,876		)	1,500			—			(14,376		)
Loss before income taxes	(38,794		)	(37,618		)	(6,168		)	42,927			(39,653		)
(Benefit from) provision for income taxes	—			854			(1,713		)	—			(859		)
Net loss	$	(38,794	)	$	(38,472	)	$	(4,455	)	$	42,927		$	(38,794	)

EURAMAX HOLDINGS, INC. AND SUBSIDIARIES
SUPPLEMENTAL CONDENSED CONSOLIDATING STATEMENTS OF OPERATIONSFOR THE THREE MONTHS ENDED SEPTEMBER 27, 2013
(in thousands)

(unaudited)

	Parent			Issuer			Non-Guarantor			Eliminations			Total
Net sales	$	—		$	165,866		$	64,365		$	(2,396	)	$	227,835
Costs and expenses:
Cost of goods sold (excluding depreciation and amortization)	—			137,171			54,017			(2,396		)	188,792
Selling and general (excluding depreciation and amortization)	325			13,686			6,376			—			20,387
Depreciation and amortization	—			5,579			2,935			—			8,514
Other operating charges	—			155			1,300			—			1,455
Income (loss) from operations	(325		)	9,275			(263		)	—			8,687
Equity in earnings (losses) of subsidiaries	16,584			(4,171		)	—			(12,413		)	—
Interest expense	—			(13,528		)	(277		)	—			(13,805		)
Intercompany income (loss), net	—			4,478			(4,478		)	—			—
Other income (loss), net	—			8,313			(18		)	—			8,295
Income (loss) before income taxes	16,259			4,367			(5,036		)	(12,413		)	3,177
Benefit from income taxes	—			(12,217		)	(865		)	—			(13,082		)
Net income (loss)	$	16,259		$	16,584		$	(4,171	)	$	(12,413	)	$	16,259

EURAMAX HOLDINGS, INC. AND SUBSIDIARIES
SUPPLEMENTAL CONDENSED CONSOLIDATING STATEMENTS OF OPERATIONSFOR THE THREE MONTHS ENDED SEPTEMBER 26, 2014
(in thousands)

(unaudited)

	Parent			Issuer			Non-Guarantor			Eliminations			Total
Net sales	$	—		$	177,682		$	64,674		$	(2,414	)	$	239,942
Costs and expenses:
Cost of goods sold (excluding depreciation and amortization)	—			150,361			54,213			(2,414		)	202,160
Selling and general (excluding depreciation and amortization)	102			11,722			5,589			—			17,413
Depreciation and amortization	—			5,406			2,736			—			8,142
Other operating charges	—			795			256			—			1,051
Income (loss) from operations	(102		)	9,398			1,880			—			11,176
Equity in earnings (losses) of subsidiaries	(16,304		)	(1,471		)	—			17,775			—
Interest expense	—			(13,571		)	(324		)	—			(13,895		)
Intercompany income (loss), net	—			4,486			(4,486		)	—			—
Other (loss) income, net	—			(15,023		)	967			—			(14,056		)
Loss before income taxes	(16,406		)	(16,181		)	(1,963		)	17,775			(16,775		)
(Benefit from) provision for income taxes	—			123			(492		)	—			(369		)
Net loss	$	(16,406	)	$	(16,304	)	$	(1,471	)	$	17,775		$	(16,406	)

EURAMAX HOLDINGS, INC. AND SUBSIDIARIES
SUPPLEMENTAL CONDENSED CONSOLIDATING STATEMENTS OF OPERATIONSFOR THE NINE MONTHS ENDED SEPTEMBER 27, 2013
(in thousands)

(unaudited)

	Parent			Issuer			Non-Guarantor			Eliminations			Total
Net sales	$	—		$	429,300		$	206,908		$	(5,967	)	$	630,241
Costs and expenses:
Cost of goods sold (excluding depreciation and amortization)	—			361,266			173,124			(5,967		)	528,423
Selling and general (excluding depreciation and amortization)	513			40,416			18,838			—			59,767
Depreciation and amortization	—			16,712			8,845			—			25,557
Other operating charges	—			821			4,534			—			5,355
Income (loss) from operations	(513		)	10,085			1,567			—			11,139
Equity in earnings (losses) of subsidiaries	(12,900		)	(11,619		)	—			24,519			—
Interest expense	—			(40,384		)	(873		)	—			(41,257		)
Intercompany income (loss), net	—			13,158			(13,158		)	—			—
Other income (loss), net	—			4,891			(830		)	—			4,061
Loss before income taxes	(13,413		)	(23,869		)	(13,294		)	24,519			(26,057		)
Benefit from income taxes	—			(10,969		)	(1,675		)	—			(12,644		)
Net loss	$	(13,413	)	$	(12,900	)	$	(11,619	)	$	24,519		$	(13,413	)

Schedule Of Condensed Statement Of Comprehensive Income (Loss)

EURAMAX HOLDINGS, INC. AND SUBSIDIARIES
SUPPLEMENTAL CONDENSED CONSOLIDATING STATEMENTS OF COMPREHENSIVE OPERATIONS

FOR THE THREE MONTHS ENDED SEPTEMBER 27, 2013

(in thousands)

(unaudited)

	Parent			Issuer			Non-Guarantor			Eliminations			Total
Net income (loss)	$	16,259		$	16,584		$	(4,171	)	$	(12,413	)	$	16,259
Other comprehensive income (loss):
Foreign currency translation adjustment	(89		)	(89		)	(89		)	178			(89		)
Defined benefit pension plan adjustments, net of tax	81			81			8			(89		)	81
Total comprehensive income (loss)	$	16,251		$	16,576		$	(4,252	)	$	(12,324	)	$	16,251

EURAMAX HOLDINGS, INC. AND SUBSIDIARIES
SUPPLEMENTAL CONDENSED CONSOLIDATING STATEMENTS OF COMPREHENSIVE OPERATIONS

FOR THE NINE MONTHS ENDED SEPTEMBER 26, 2014
(in thousands)

(unaudited)

	Parent			Issuer			Non-Guarantor			Eliminations			Total
Net loss	$	(38,794	)	$	(38,472	)	$	(4,455	)	$	42,927		$	(38,794	)
Other comprehensive (loss) income:
Foreign currency translation adjustment	(250		)	(250		)	(250		)	500			(250		)
Defined benefit pension plan adjustments, net of tax	62			62			55			(117		)	62
Total comprehensive loss	$	(38,982	)	$	(38,660	)	$	(4,650	)	$	43,310		$	(38,982	)

EURAMAX HOLDINGS, INC. AND SUBSIDIARIES
SUPPLEMENTAL CONDENSED CONSOLIDATING STATEMENTS OF COMPREHENSIVE OPERATIONS

FOR THE NINE MONTHS ENDED SEPTEMBER 27, 2013

(in thousands)

(unaudited)

	Parent			Issuer			Non-Guarantor			Eliminations			Total
Net loss	$	(13,413	)	$	(12,900	)	$	(11,619	)	$	24,519		$	(13,413	)
Other comprehensive (loss) income:
Foreign currency translation adjustment	(431		)	(431		)	(431		)	862			(431		)
Defined benefit pension plan adjustments, net of tax	246			246			29			(275		)	246
Total comprehensive loss	$	(13,598	)	$	(13,085	)	$	(12,021	)	$	25,106		$	(13,598	)

EURAMAX HOLDINGS, INC. AND SUBSIDIARIES
SUPPLEMENTAL CONDENSED CONSOLIDATING STATEMENTS OF COMPREHENSIVE OPERATIONS

FOR THE THREE MONTHS ENDED SEPTEMBER 26, 2014
(in thousands)

(unaudited)

	Parent			Issuer			Non-Guarantor			Eliminations			Total
Net loss	$	(16,406	)	$	(16,304	)	$	(1,471	)	$	17,775		$	(16,406	)
Other comprehensive income:
Foreign currency translation adjustment	204			204			204			(408		)	204
Defined benefit pension plan adjustments, net of tax	21			21			18			(39		)	21
Total comprehensive loss	$	(16,181	)	$	(16,079	)	$	(1,249	)	$	17,328		$	(16,181	)

Schedule of Condensed Cash Flow Statement

EURAMAX HOLDINGS, INC. AND SUBSIDIARIES
SUPPLEMENTAL CONDENSED CONSOLIDATING STATEMENTS OF CASH FLOWSFOR THE NINE MONTHS ENDED SEPTEMBER 26, 2014
(in thousands)

(unaudited)

	Parent		Issuer			Non-Guarantor			Eliminations			Total
Net cash used in operating activities	$	—	$	(8,172	)	$	(6,143	)	$	—		$	(14,315	)
Cash flows from investing activities:
Proceeds from sale of assets	—		776			1			—			777
Capital expenditures	—		(3,239		)	(1,994		)	—			(5,233		)
Due from (to) affiliates	—		4,949			—			(4,949		)	—
Net cash (used in) provided by investing activities	—		2,486			(1,993		)	(4,949		)	(4,456		)
Cash flows from financing activities:
Net borrowings on Dutch Revolving Credit Facility	—		—			8,253			—			8,253
Net borrowings on ABL Credit Facility	—		4,981			—			—			4,981
Change in cash overdrafts	—		—			215			—			215
Debt issuance costs	—		(88		)	—			—			(88		)
Due (to) from affiliates	—		—			(4,949		)	4,949			—
Net cash provided by financing activities	—		4,893			3,519			4,949			13,361
Effect of exchange rate changes on cash	—		—			(332		)	—			(332		)
Net decrease in cash and cash equivalents	—		(793		)	(4,949		)	—			(5,742		)
Cash and cash equivalents at beginning of period	—		1,700			7,277			—			8,977
Cash and cash equivalents at end of period	$	—	$	907		$	2,328		$	—		$	3,235

EURAMAX HOLDINGS, INC. AND SUBSIDIARIES
SUPPLEMENTAL CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWSFOR THE NINE MONTHS ENDED SEPTEMBER 27, 2013
(in thousands)

(unaudited)

	Parent		Issuer			Non-Guarantor			Eliminations			Total
Net cash used in operating activities	$	—	$	(10,148	)	$	(6,588	)	$	—		$	(16,736	)
Cash flows from investing activities:
Proceeds from sale of assets	—		266			2,022			—			2,288
Capital expenditures	—		(4,379		)	(2,976		)	—			(7,355		)
Due from (to) affiliates	—		—			2,209			(2,209		)	—
Net cash (used in) provided by investing activities	—		(4,113		)	1,255			(2,209		)	(5,067		)
Cash flows from financing activities:
Net borrowings on ABL Credit Facility	—		19,514			—			—			19,514
Net borrowings on Dutch Revolving Credit Facility	—		—			1,836			—			1,836
Debt issuance costs	—		(175		)	—			—			(175		)
Due (to) from affiliates	—		(2,209		)	—			2,209			—
Net cash provided by financing activities	—		17,130			1,836			2,209			21,175
Effect of exchange rate changes on cash	—		—			64			—			64
Net (decrease) increase in cash and cash equivalents	—		2,869			(3,433		)	—			(564		)
Cash and cash equivalents at beginning of period	—		1,574			8,450			—			10,024
Cash and cash equivalents at end of period	$	—	$	4,443		$	5,017		$	—		$	9,460

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Segment Information - Revenues from External Customers (Details) (USD $) In Thousands, unless otherwise specified	3 Months Ended		9 Months Ended
	Sep. 26, 2014	Sep. 27, 2013	Sep. 26, 2014	Sep. 27, 2013
Revenue from External Customer [Line Items]
Sales Revenue, Goods, Net	$ 239,942	$ 227,835	$ 642,836	$ 630,241
Home Improvement Retailers
Revenue from External Customer [Line Items]
Sales Revenue, Goods, Net	54,934	57,449	135,000	145,995
Rural Contractors
Revenue from External Customer [Line Items]
Sales Revenue, Goods, Net	46,974	44,029	103,001	97,932
Original Equipment Manufacturers (OEM's)
Revenue from External Customer [Line Items]
Sales Revenue, Goods, Net	46,033	45,474	158,330	149,791
Industrial and Architectural Contractors
Revenue from External Customer [Line Items]
Sales Revenue, Goods, Net	38,168	37,926	110,410	112,721
Distributors
Revenue from External Customer [Line Items]
Sales Revenue, Goods, Net	31,043	25,096	73,296	67,121
Home Improvement Contractors
Revenue from External Customer [Line Items]
Sales Revenue, Goods, Net	13,918	11,546	37,275	31,971
Manufactured Housing
Revenue from External Customer [Line Items]
Sales Revenue, Goods, Net	$ 8,872	$ 6,315	$ 25,524	$ 24,710

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Condensed Consolidated Statements of Comprehensive Loss (USD $) In Thousands, unless otherwise specified	3 Months Ended		9 Months Ended
	Sep. 26, 2014	Sep. 27, 2013	Sep. 26, 2014	Sep. 27, 2013
Net (loss) income	$ (16,406)	$ 16,259	$ (38,794)	$ (13,413)
Other comprehensive (loss) income:
Foreign currency translation adjustment	204	(89)	(250)	(431)
Defined benefit pension plan adjustments	21	81	62	246
Total comprehensive (loss) income	$ (16,181)	$ 16,251	$ (38,982)	$ (13,598)

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Commitments and Contingencies

9 Months Ended

Sep. 26, 2014

Commitments and Contingencies Disclosure [Abstract]

Commitments and Contingencies

Commitments and Contingencies

Raw Material Commitments

The Company’s primary raw materials are aluminum and steel coil. Because changes in aluminum and steel prices are generally passed through to customers, increases or decreases in aluminum and steel prices generally cause corresponding increases and decreases in reported net sales, causing fluctuations in reported revenues that are unrelated to the level of business activity. However, if the Company is unable to pass through aluminum and steel price increases to customers in the future, its business and results of operations could be materially adversely affected. Although the Company believes there is sufficient supply in the marketplace to competitively source all of its aluminum and steel needs without reliance on any particular supplier, any major disruption in the supply and/or price of aluminum and steel could have a material adverse effect on the Company’s business and financial condition.

To ensure a margin on specific customer orders, the Company may commit to purchase aluminum ingot or coil at a fixed market price for future delivery. These contracts are for normal purchases and sales, and therefore, are not required to be accounted for as derivatives.

Litigation

The Company is currently party to legal proceedings that have arisen in the ordinary course of business. The Company has and will continue to vigorously defend itself in these matters. It is the opinion of the Company’s management, based upon information available at this time, that the expected outcome of all matters to which the Company is currently a party would not reasonably be expected to have a material adverse effect on the consolidated financial position, results of operations or cash flows of the Company.

Environmental Matters

The Company’s operations are subject to U.S., Canadian, and European federal, state, and local environmental laws and regulations, including those concerning the management of pollution and hazardous substances.

In connection with the acquisition of the Company from Alumax Inc. (which was acquired by Aluminum Company of America in May 1998, and hereafter referred to as Alumax) on September 25, 1996, the Company was indemnified by Alumax for substantially all of its costs, if any, related to specifically identified environmental matters arising prior to the closing date of the acquisition during the period of time it was owned directly or indirectly by Alumax. Such indemnification includes costs that may ultimately be incurred to contribute to the remediation of eleven specified existing National Priorities List (NPL) sites for which the Company had been named a potentially responsible party under the federal Comprehensive Environmental Response, Compensation, and Liability Act (CERCLA) as of the closing date of the acquisition from Alumax, as well as certain potential costs for nine sites to which the Company may have sent waste for disposal. The Company does not believe that it has any significant probable liability for environmental claims. Further, the Company believes it to be unlikely that the Company would be required to bear environmental costs in excess of its pro rata share of such costs as a potentially responsible party at any site. Any receivable for recoveries under the indemnification would be recorded separately from the corresponding liability when the environmental claim and related recovery is determined to be probable. In addition, the Company establishes reserves for remedial measures required from time to time at its facilities. Management believes that the reasonably probable outcomes of these matters will not be material. The Company’s reserves, expenditures, and expenses for all environmental exposures were not significant as of any of the dates or for any of the periods presented.

Product Warranties

The Company provides warranties on certain products. The warranty periods differ depending on the product, but generally range from one year to limited lifetime warranties. The Company provides for warranties based on historical experience and expectations of future occurrence. Changes in the product warranty accrual are summarized as follows:

	Three months ended						Nine months ended
	September 26, 2014			September 27, 2013			September 26, 2014			September 27, 2013
	(in thousands)
Balance, beginning of period	$	4,946		$	5,047		$	5,326		5,098
Payments made or service provided	(754		)	(734		)	(2,309		)	(2,565		)
Warranty expense	692			997			1,867			2,838
Foreign currency translation	(88		)	93			(88		)	32
Balance, end of period	$	4,796		$	5,403		$	4,796		$	5,403

XML

Basis of Presentation and Principles of Consolidation Foreign Currency Translations (Details) (Other Income, USD $) In Millions, unless otherwise specified	3 Months Ended		9 Months Ended
	Sep. 26, 2014	Sep. 27, 2013	Sep. 26, 2014	Sep. 27, 2013
Other Income
Foreign Currency, Gains and Losses [Line Items]
Foreign currency transaction gain (loss), before tax	$ (14.8)	$ 8.9	$ (15.1)	$ 4.1

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Fair Value Measurements (Details) (USD $)									3 Months Ended		9 Months Ended
	Sep. 26, 2014	Dec. 31, 2013	Sep. 26, 2014 Senior notes Senior Secured Notes (9.50%)	Dec. 31, 2013 Senior notes Senior Secured Notes (9.50%)	Sep. 26, 2014 Fair Value, Inputs, Level 2 Senior notes Senior Secured Notes (9.50%)	Dec. 31, 2013 Fair Value, Inputs, Level 2 Senior notes Senior Secured Notes (9.50%)	Sep. 26, 2014 Not Designated as Hedging Instrument Current assets Foreign Exchange Contract Fair Value, Inputs, Level 2	Dec. 31, 2013 Not Designated as Hedging Instrument Accrued Liabilities Foreign Exchange Contract Fair Value, Inputs, Level 2	Sep. 26, 2014 Not Designated as Hedging Instrument Other Nonoperating Income (Expense) Foreign Exchange Contract	Sep. 27, 2013 Not Designated as Hedging Instrument Other Nonoperating Income (Expense) Foreign Exchange Contract	Sep. 26, 2014 Not Designated as Hedging Instrument Other Nonoperating Income (Expense) Foreign Exchange Contract	Sep. 27, 2013 Not Designated as Hedging Instrument Other Nonoperating Income (Expense) Foreign Exchange Contract
Derivatives, Fair Value [Line Items]
Derivative, gain (loss) on derivative, net									$ 700,000	$ (300,000)	$ 700,000	$ (200,000)
Derivative asset, fair value, gross asset							500,000
Derivative liability, fair value, gross liability								(200,000)
Long-term debt	549,065,000	535,396,000	375,000,000	375,000,000
Fair value of long-term debt					$ 363,800,000	$ 375,000,000

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Indebtedness (Tables)

9 Months Ended

Sep. 26, 2014

Debt Disclosure [Abstract]

Schedule of Long-term Debt Instruments

Indebtedness consisted of the following:

	September 26, 2014		December 31, 2013
	(in thousands)
Senior Secured Notes (9.50%)	$	375,000	$	375,000
Senior Unsecured Loan Facility (12.25%)	124,075		123,640
ABL Credit Facility	41,737		36,756
Dutch Revolving Credit Facility	8,253		—
Total debt	549,065		535,396
Less: current portion	8,253		—
Total long term debt	$	540,812	$	535,396

Schedule of Redemption Rates on Senior Secured Notes

The Notes may be redeemed at the option of Euramax International, in whole or in part, under the conditions specified in the Indenture, at the following redemption prices plus accrued and unpaid interest to the redemption date if redeemed during the twelve-month period beginning on April 1 of the years indicated:

Year	Percentage
2013	107.125	%
2014	104.750	%
2015 and thereafter	100.000	%

Prepayment Rates on Senior Unsecured Loan Facility

Euramax International may prepay outstanding amounts under the Senior Unsecured Loan Facility, in whole or in part, at the prices (expressed as percentages of the loans) set forth below:

Prepayment Date	Percentage
On or after the second anniversary of the closing but prior to the third anniversary thereof	103	%
On or after the third anniversary of the closing but prior to the fourth anniversary thereof	102	%
On or after the fourth anniversary of the closing	100	%