TAMPA, Fla.--(BUSINESS WIRE)--
Masonite International Corporation ("Masonite") (NYSE: DOOR) today
announced that it completed the sale of Premdor, S.A.S. (“Premdor”),
Masonite’s door business in France, to an investment fund managed by
Perceva S.A.S.(“Perceva”), a Paris-based independent investment firm,
for nominal consideration. Premdor S.A.S. had net sales of approximately
$127 million for the year ended December 28, 2014 and over 680 employees.
“The sale of our business in France reflects another positive step in
our strategic initiative of optimizing our portfolio and increasing
shareholder value," said Fred Lynch, President and CEO. "I want to thank
the Premdor associates in France for their dedication and hard work in
the face of very difficult business conditions. They have been part of
the Masonite family since the 1990’s, and we wish them the best as they
continue their commitment to customer service under new ownership."
Masonite will discuss the divestiture, along with its 2015 second
quarter financial results, on its quarterly conference call on Thursday,
August 6, 2015, at 10:00 a.m. ET. Please note the dial-in number for the
conference call as follows: 877-407-3980 (in the U.S.) or 201-689-8475
(outside U.S.). The conference call will also be available via live
webcast under the Investor Relations section of Masonite’s website at Q2'15
Earnings Webcast.
If you are unable to listen to the live conference call, a replay will
be available through August 20, 2015. To access the replay, please dial
877-660-6853 (in the U.S.) or 201-612-7415 (outside U.S.). Enter
Conference ID #13614492.
This press release is available on the Company's website at www.masonite.com.
About Masonite
Masonite International Corporation is a leading global designer and
manufacturer of interior and exterior doors for the residential new
construction; the residential repair, renovation and remodeling; and the
non-residential building construction markets. Since 1925, Masonite has
provided its customers with innovative products and superior service at
compelling values. Masonite currently serves more than 7,000 customers
in 80 countries. Additional information about Masonite can be found at www.masonite.com.
Forward-looking Statements
This press release contains forward-looking information and other
forward-looking statements within the meaning of applicable Canadian
and/or U.S. securities laws. When used in this press release, such
forward-looking statements may be identified by the use of such words as
“may,” might, “could,” “will,” would,” “should,” “expect,” “believes,”
“outlook,” “predict,” “forecast,” “objective,” “remain,” “anticipate,”
“estimate,” “potential,” “continue,” “plan,” “project,” “targeting,” or
the negative of these terms or other similar terminology.
Forward-looking statements involve significant known and unknown
risks, uncertainties and other factors that may cause the actual
results, performance or achievements of Masonite, or industry results,
to be materially different from any future plans, goals, targets,
objectives, results, performance or achievements expressed or implied by
such forward-looking statements. As a result, such forward-looking
statements should not be read as guarantees of future performance or
results, should not be unduly relied upon, and will not necessarily be
accurate indications of whether or not such results will be achieved.
Factors that could cause actual results to differ materially from the
results discussed in the forward-looking statements include, but are not
limited to, satisfaction of conditions, including receipt of regulatory
approvals, relating to the proposed transaction; general economic,
market and business conditions; levels of residential new construction,
residential repair, renovation and remodeling and non-residential
building construction activity; competition; our ability to successfully
implement our business strategy; our ability to manage our operations
including integrating our recent acquisitions and companies or assets we
acquire in the future; our ability to generate sufficient cash flows to
fund our capital expenditure requirements and to meet our debt service
obligations, including our obligations under our senior notes and our
senior secured asset-backed credit facility; labor relations (i.e.,
disruptions, strikes or work stoppages), labor costs, and availability
of labor; increases in the costs of raw materials or any shortage in
supplies; our ability to keep pace with technological developments; the
actions by, and the continued success of, certain key customers; our
ability to maintain relationships with certain customers; new
contractual commitments; our ability to generate the benefits of our
restructuring activities; retention of key management personnel;
environmental and other government regulations; limitations on operating
our business as a result of covenant restrictions under our existing and
future indebtedness, including our senior notes and senior secured
asset-based credit facility; and other factors publicly disclosed by the
company from time to time.
View source version on businesswire.com: http://www.businesswire.com/news/home/20150803005435/en/
Source: Masonite International Corporation
Masonite International Corporation
Joanne Freiberger, 813-739-1808
Vice
President and Treasurer
investorrelations@masonite.com