Masonite Announces Agreement to Acquire Masisa Door Manufacturing Operations Business Wire TAMPA, Fla. -- June 17, 2013 Masonite International Corporation (the “Company”) today announced it has signed a definitive agreement to acquire the door manufacturing operations of Masisa S.A. for approximately $12.5 million. The transaction includes the door component operations in Cabrero, Chile and a door assembly factory in Chillan, Chile. The operations to be acquired primarily manufacture high quality stile and rail panel and French wood doors for the North American market. The facilities employ approximately 300 people. “The addition of this manufacturing capability to our existing stile and rail wood door offering in North America will help ensure that our customers have reliable access to the widest range of high quality, cost effective wood door products,” stated Chris Virostek, Masonite’s Senior Vice President of Corporate Development. “This transaction complements our existing residential wood door offering and provides an important additional platform of strategic growth for our company.” “We are pleased to enter into this transaction with Masonite and believe it is a very good fit for the customers, employees and suppliers of the door business,” said Jaime Valenzuela, Masisa Andina General Manager. The transaction is expected to close within the next 30 days, subject to customary closing conditions. 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 6,000 customers in 70 countries. Forward-looking Statements This document includes 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,” “might,” “will,” “should,” “would,” “outlook,” “estimates,” “projects,” “plans,” “anticipates,” “expects,” “intends,” “forecasts,” “targets,” “believes,” and other words of similar meaning, or by the fact that they do not relate strictly to historical or current facts. Such forward-looking statements reflect management’s current beliefs and are based on information currently available to management. All forward-looking statements in this document are qualified by these cautionary statements. These forward-looking statements are likely to address, but may not be limited to, the Company’s strategies relating to growth and cost containment; the Company’s future operations; the Company’s ability to effectively integrate our recent acquisitions and achieve the intended benefits and synergies of the acquisitions; political and economic stability, especially in the geographic areas where the Company manufactures or sells its product; and improving global conditions in the door manufacturing and housing industries consistent with the Company’s assumed levels of housing starts and repair, renovation and remodeling. Readers must carefully consider any such statements and should understand that such statements are based on management’s current estimates and assumptions and are subject to many factors, risks and uncertainties which 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 residential new construction, residential repair, renovation and remodeling and non-residential building construction activity; competition; our ability to successfully implement our business strategy; 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-based 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; the 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 our ABL Facility; and other factors publicly disclosed by the Company from time to time. No forward-looking statement can be guaranteed and actual future results may vary materially. Therefore, we caution you 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 unless required by applicable law. Contact: Masonite International Corporation Joanne Freiberger, 813-739-1808 firstname.lastname@example.org
Masonite Announces Agreement to Acquire Masisa Door Manufacturing Operations
Press spacebar to pause and continue. Press esc to stop.