TAMPA, Fla.--(BUSINESS WIRE)--
Masonite International Corporation (NYSE: DOOR) today announced that it
has completed the acquisition of the operating assets of the wood door
companies of AADG, Inc., part of ASSA ABLOY, which includes the brands
Graham Manufacturing Corporation (“Graham”) and The Maiman Company
(“Maiman”).
Graham provides the non-residential construction industry with a full
range of architectural premium and custom grade flush wood doors. Maiman
is a manufacturer of architectural stile and rail wood doors, thermal
fused flush wood doors and wood door frames.
The two divisions employ approximately 275 people located in their three
manufacturing facilities in Mason City, IA and Springfield, MO.
Net sales for the two divisions for the twelve months ended December
2017 were approximately $70 million.
“We believe this acquisition fits well with Masonite’s existing
Architectural business. Graham and Maiman will provide Masonite with an
expanded footprint to better serve our customers,” said Graham Thayer,
Masonite’s Senior Vice President, Architectural.
The acquisition of these assets marks Masonite’s ninth acquisition in
the last four years.
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 serves more than 7,000 customers in 65
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, including information related to the
expected impact of the acquisition. 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, our ability to successfully integrate the products,
employees and operations of
as well as the ability to ensure
continued performance
of
products; the potential that the
expected benefits and opportunities of the transaction may not be
realized or may take longer to realize than expected; general economic,
market and business conditions; competition; increases in the costs of
raw materials or any shortage in supplies; the actions by, and the
continued success of, certain key customers; our ability to maintain
relationships with certain customers; retention of key management
personnel; and other factors publicly disclosed by the company in its
Form 10-K for fiscal 2017 and subsequent 10-Qs filed with the SEC.
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Masonite International Corporation
Joanne Freiberger, CPA, CTP,
IRC, 813-739-1808
VP, TREASURER
[email protected]
or
Brian
Prenoveau, CFA, 813-371-5839
DIR. INVESTOR RELATIONS
[email protected]
Source: Masonite International Corporation