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Masonite Announces Automated Interior Door Production Line in Denmark, SC

^{Published on 2011-07-21 10:45:53 - Market Wire}
 

TAMPA, Fla.--([ BUSINESS WIRE ])--Masonite International Corporation (OTCBB: MASWF) (the "Company") today announced that it is planning to invest $14 million in a next-generation automated interior door production line and infrastructure at its Denmark, South Carolina plant in Bamberg County. The Denmark facility manufactures residential interior doors for its Southeast customers, including the Florida market.

"We also very much appreciate Governor Nikki Haleya™s support of the incentive package, especially the education and training component."

aInvesting in our Denmark facility made sense on so many levels, beginning with the great local workforce,a said Glen Coulter, Executive Vice President of Global Operations & Supply Chain. aIta™s also conveniently located near several major interstates, near major customers, and our Companya™s Yulee, Fla. door fabrication plant that pre-hangs doors for our Southeast retail customers.a

The South Carolina Department of Commerce and Bamberg County partnered with Masonite to provide a grant from the statea™s Regional Infrastructure Fund, as well as other pro-business incentives to expand operations in the Denmark facility.

aWe want to recognize the hard work on the part of the state and county representatives, and especially Danny Black, President and CEO of the SouthernCarolina Alliance,a said Mike Fout, Vice President of Operations for the Interior Door Division. aWe also very much appreciate Governor Nikki Haleya™s support of the incentive package, especially the education and training component.a

Through the statea™s readySCa" workforce training program, a division of the SC Technical College System, Denmark Technical College is developing a curriculum to train current and future employees of the Denmark facility.

aSouth Carolinaa™s Department of Commerce offered economic development solutions that were win-win,a said Fred Lynch, Masonitea™s President and CEO. aWe are committed to investing in innovative manufacturing and product technologies that will enhance our competitive edge, and we want to make those investments in communities where we have cooperative relationships with regional and local government.a

Masonite acquired the plant in October, 2010 from Lifetime Doors Inc. The company expects to employ up to 200 within the next five years, when the new technology is fully installed.

The Company is in the planning and engineering phase of the production line, and the new system is expected to be operational by early 2013. This is subject to finalizing definitive agreements with the South Carolina Coordinating Council for Economic Development and Bamberg County, SC.

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 customers in approximately 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 "may," "will," "intend," "should," "expect," "believe," "outlook," "predict," "objective," "remain," "anticipate," "estimate," "potential," "continue," "plan," "could," "might," "project," "targeting," 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.