Profile: Masonite International Corp (DOOR.N)
28 Nov 2014
Masonite International Corporation is 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. The Company principally operates in North America; Europe, Asia and Latin America, and Africa. The Company markets and sells its products to remodeling contractors, builders, homeowners, retailers, dealers, lumberyards, commercial and general contractors and architects through wholesale and retail distribution channels. Its portfolio of brands includes Masonite, Marshfield, Premdor, Mohawk, Megantic, Algoma, Baillargeon, Birchwood Best and Lemieux. As of April 8, 2013, it sold approximately 31 million doors to more than 6,000 customers in 70 countries. On August 1, 2012, it completed the acquisition of Portes Lemieux Inc. (Lemieux). On April 20, 2012, it acquired Algoma Holding Company (Algoma).
The Company sells an extensive range of interior and exterior doors in an array of designs, materials, and sizes. Its exterior doors are made primarily of steel or fiberglass. Its residential doors are molded panel, flush, stile and rail, routed medium-density fiberboard (MDF), steel or fiberglass. Its molded panel product line is subdivided into four distinct product groups: original Molded Panel series is a combination of classic styling, durable construction, and variety of design preferred by its customers when price sensitivity is a critical component in the product selection; Palazzo series is comprised of three designs that accentuate the beauty and flexibility of molding wood fiber to replicate high end, historically labor intensive door designs; the four doors within its Anniversary Collection embody themed, period, and architectural style specific designs, and its newest introduction to the molded panel line, the West End Collection, strengthens our tradition of design innovation by introducing the clean and simple aesthetics found in modern linear designs to the molded panel interior door category. All of its molded panel doors except for the Palazzo series can be upgraded with its wheat straw based, Safe N Sound door core or its Emerald door construction which enables home owners, builders, and architects to meet specific product requirements and green specifications to attain LEED certification for a building or dwelling. The Company's flush doors range from base residential flush doors consisting of unfinished composite wood, to the ultrahigh end wood veneer door used in the commercial and architectural door market. The Company's routed MDF door category is comprised of two product lines known as the Bolection and Cyma door. All of the Company's residential doors can be pre-assembled into door frames.
The Company offers an extensive line of non-residential interior doors meeting all market requirements and ranging from the entry level molded panel doors to the high end custom designed flush wood doors with exotic veneer inlay designs. Its non-residential doors are molded panel, flush, stile and rail, or routed MDF and can be offered with radiation shielding, as well as varying levels of fire and sound rating. Its non-residential flush doors can also be produced with a laminate veneer facing. High pressure laminates are used when durability and aesthetics are the customer’s main concern, while low pressure laminates are utilized when consistency in surface color, texture, and value are equal requirements.
In addition to residential and non-residential doors, the Company also sells several door products to the building materials industry. Within the residential new construction market, it provides interior door facings, wheat straw door cores, MDF and wood cut-stock components to multiple manufacturers. Within the non-residential building construction market, it is a component supplier of various critical door components and a wood veneer door skin supplier. Additionally, through its commercial and architectural door businesses, it is a provider of mineral door cores to the North American door market.
The Company develops and engineers products designed to influence the mix of products sold and provide the end user with doors and entry systems that enhance beauty and functionality. It has introduced over 100 new products, including the West End series of smooth surfaced interior doors which combines a European design with a patented hinge-less, barn door, closing system to create an elegant look while saving interior living space. It also introduced Torrefied exterior stile and rail wood door which uses advanced processing technology to significantly enhance weathering characteristics, such as water and sun resistance. It has added more than 20 new fiberglass door designs.
As of April 8, 2013, the Company operated 65 manufacturing and distribution facilities in 12 countries in North America, Europe, South America, Asia, Africa and Israel, which are located to serve its customers. The Company’s vertical integration extends to all steps of the production process from initial design, development and production of steel press plates to produce interior molded and exterior fiberglass door facings to the manufacturing of door components, such as door cores, wood veneers and molded facings, to door slab assembly. It also offers incremental value by hanging doors in frames with glass and hardware and pre-finishing doors with paint or stain.
The Company competes with JELD-WEN, Therma-Tru, Plastpro, VT Industries, Graham Wood Doors and Eggers Industries.
Masonite International Corp