Masonite Announces Agreement to Acquire Masisa Door Manufacturing Operations

  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
investorrelations@masonite.com
 
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