Business & Finance
Mon, October 18, 2010Sun, October 17, 2010Fri, October 15, 2010Thu, October 14, 2010Wed, October 13, 2010Tue, October 12, 2010Mon, October 11, 2010Fri, October 8, 2010Thu, October 7, 2010Wed, October 6, 2010Tue, October 5, 2010Mon, October 4, 2010Sat, October 2, 2010Fri, October 1, 2010Masonite Completes Acquisition of Lifetime Doors Inc.
Published in Business and Finance on Friday, October 8th 2010 at 7:36 GMT by Market Wire
TAMPA, Fla.--([ BUSINESS WIRE ])--Masonite Inc. (the aCompanya) (OTCBB: MASWF) today announced the acquisition of substantially all of the assets of Lifetime Doors Inc. (aLifetimea), headquartered in Farmington Hills, MI. Lifetime is an interior flush door manufacturer specializing in molded, veneer, prefinished, and bifold doors. Lifetime was founded in 1947 in Livonia, Michigan, by William Gilbert and has been manufacturing and selling high quality door products since its inception. The financial details of the acquisition have not been disclosed.
"We are excited to join the Masonite team"
aLifetime is a natural fit for Masonite. Lifetimea™s geographic coverage, along with strong customer relationships will complement Masonitea™s operations and create exciting new opportunities for our customers, employees, and suppliers and enable Masonite to continue delivering on its strategic growth initiatives,a stated Larry Repar, Masonitea™s Executive Vice President and Chief Operating Officer.
aWe are excited to join the Masonite team,a said John Hauss, Lifetimea™s President. aMasonitea™s business provides customers with innovative products and industry leadership on a worldwide scale. We look forward to partnering with Masonite to serve our current and future customers and to achieve our long-term business goals.a
Mr. Hauss, a 20+ year veteran of the molded door industry, will remain with Masonite in a senior advisory role. Key members of Lifetimea™s sales organization will also join Masonite, adding additional capabilities to Masonite as the Company continues delivering on its strategic growth initiatives.
This acquisition is the fifth transaction executed by Masonite this year. In March Masonite acquired Ledco, Inc., an interior door manufacturer in the US. In June and July Masonite closed three additional transactions establishing Masonite as a clear leader in the fast growing molded door market in India.
This press release is available on the Company's website at [ www.masonite.com ].
About Masonite
Masonite Inc. is a leading global manufacturer of residential and commercial doors, committed to providing the highest value door products to our customers in more than 85 countries around the world.
Forward-looking Statements
This press release and other related written reports and oral statements made by the Company may include forward-looking statements, all of which are subject to risks and uncertainties. One can identify these forward-looking statements by their use of words such as amay,a awill,a aintend,a ashould,a aexpect,a abelieve,a aoutlook,a apredict,a aobjective,a aremain,a aanticipate,a aestimate,a apotential,a acontinue,a aplan,a acould,a amight,a aproject,a atargeting,a and other words of similar meaning, or by the fact that they do not relate strictly to historical or current facts. Readers must carefully consider any such statements and should understand that many factors could cause actual results and developments to differ materially from the Company's forward-looking statements. These factors may include inaccurate assumptions and a broad variety of other known and unknown risks and uncertainties, including: general economic, market and business conditions; levels of construction and renovation activity; competition; financing risks; ability to manage expanding operations and effectively integrate acquired businesses; commitments; new services; retention of key management personnel; environmental and other government regulation; and other factors.
No forward-looking statement can be guaranteed and actual future results may vary materially. Therefore, we caution readers not to place undue reliance on our forward-looking statements. The Company disclaims any responsibility to update these forward-looking statements, whether as a result of new information, future events or otherwise.
