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Masonite Announces Acquisition of Marshfield DoorSystems, Inc.

^{Published on 2011-06-29 16:05:50 - Market Wire}
 

TAMPA, Fla.--([ BUSINESS WIRE ])--Masonite Inc. (the aCompanya) (OTCBB: MASWF) today announced that it has signed an agreement to acquire Marshfield DoorSystems, Inc. (aMarshfielda), headquartered in Marshfield, WI. Marshfield is a leading provider of doors and door components for commercial and architecturally specified applications. Marshfielda™s operations were founded in 1890 in Marshfield, WI, and it has been manufacturing and selling high-quality commercial door products since 1908. Marshfield employs approximately 600 people, with a primary facility in Marshfield, WI, and two smaller locations in Greensboro, NC and Largo, FL. Marshfielda™s 2010 revenue exceeded $100 million. No other financial details of the acquisition have been disclosed.

"We are excited to join the Masonite team"

aThe combination of Marshfield and Masonitea™s Mohawk branded commercial door business provides our customers with a wider range of innovative door products for the more demanding commercial and architectural applications,a stated Fred Lynch, Masonitea™s President and CEO. aMarshfield also provides an important additional platform of strategic growth for our company.a

aWe are excited to join the Masonite team,a said Don Bergman, Marshfielda™s Chief Executive Officer. aBoth Marshfield and Masonite have solid reputations for delivering great customer service and quality products and we look forward to partnering with Masonite to provide new opportunities for our customers, employees and suppliers.a Mr. Bergman, a veteran of the building products industry, will remain with Masonite focusing on expanding Masonitea™s commercial and architectural door business.

The transaction is expected to close immediately following regulatory approval. 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 building products to our customers in more than 70 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.