CMI Targets Asia with Joint Venture in China

December 1, 2007
Companies
In a move to grow its international molded interior door business, CMI has made an equity investment in Jilin Fudun Timber Co. A joint venture created by Yawei and TaFu, two Chinese companies, Fudun makes particleboard, door facings and related products at operations in Dunhua, Jilin Province, in China.

CraftMaster Asia, a wholly owned subsidiary of CMI, will manage the partnership with Fudun. Terms of the transaction were not disclosed.

“Fudun is one of the largest and most respected timber and wood products companies in China,” says Bob Merrill, CMI president and CEO. “This partnership allows CMI to further penetrate the fast-growing market for molded interior doors in Asia and other international markets where urbanization, rising incomes and other factors are contributing to tremendous growth in residential housing. Through Fudun’s door facing manufacturing plant in northeastern China, we will better serve CraftMaster customers outside the U.S. and enhance future product innovation for these regions.”

Fudun operates a fully integrated production line capable of producing door skins as well as flush and embossed high-density fiberboard sheets for use in the furniture and door industries. CMI currently operates manufacturing plants in Towanda, Pa., Christiansburg, Va., Ozark, Ala., and Garland, Texas.