Published:
Masonite Inc. Announces Acquisition of Israeli Steel Security and Safety Entry Door Business
MISSISSAUGA, Ontario - (BUSINESS WIRE) - Masonite Inc., a world leader in interior doors and entry door systems,
announced its acquisition of the assets of 7 Tech, an Israeli-based
steel security and safety door business. Masonite's Israeli subsidiaries
Etz Karmiel Ltd. and Open Gallery Ltd. will add the 7 Tech steel
security and safety doors, with their attractive modern and European
styling, to the company's extensive interior and exterior wood door
collection, thus creating a single source of supply for Masonite
customers in Israel. In addition to its growing Israeli market position,
7 Tech currently exports its products to Europe, and Masonite intends to
expand the export opportunities throughout the Middle East and Europe.
"This exciting acquisition provides Masonite with an immediate entry
into the Israeli security and safety door market with a state of the art
manufacturing line, the latest product designs and technical
specifications, and a detailed strategic marketing plan to grow
significantly in the domestic as well as export markets," said Larry
Repar, Executive Vice President and Chief Operating Officer of Masonite.
"Through Etz Karmiel and Open Gallery, Masonite is already a recognized
leader in the Israeli door market and we anticipate that 7 Tech will
help us significantly expand our leadership position in the entire
region. We are extremely excited to welcome the leadership of 7 Tech
into the Masonite family."
This press release is also available within the "News & Events" section
of the Company's website at www.masonite.com.
About Masonite
Masonite is a leading global manufacturer of residential and commercial
doors, committed to providing the highest value door products to our
customers in more than 70 countries around the world. Throughout the
company's 80 year history, Masonite has maintained its focus on
leading-edge innovation, manufacturing excellence and superior customer
service. Masonite has committed to delivering product and service
innovations that will enhance beauty, functionality and architectural
design to its customers around the world. Builders, remodelers,
architects and homeowners rely on Masonite products to create homes of
distinction while at the same time remaining environmentally responsible.
Masonite Inc.
Tony DiLucente, Executive Vice President
and
Chief Financial Officer, 813-739-3000
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