Masonite Opens New Interior Door Manufacturing Facility; Preps for NYSE Debut
August 20, 2013
Masonite International Corp. recently opened a 200,000-square-foot interior door manufacturing facility in Denmark, S.C. Located in Bamberg County, the new operation features premier automation technology that will help the manufacturer improve product quality and safety while distributing its interior residential door products to the southeast market faster, company officials report.
The Masonite technology investment of more than $14 million was in direct response to changing customer demands, according to the company. The fully automated production line for interior doors reduces process time, and when operating at full capacity, produces significantly more residential interior doors than a typical manual plant.
Over 70 percent of the interior molded panel doors are expected to be run on the automated line in the new Masonite facility. The Masonite Safe ‘n Sound door with its patented DorCor, other solid core doors and Masonite bifold doors will continue to be produced on a manual line.
“Masonite has enjoyed working with many talented and dedicated people that brought this next generation facility to reality,” says Glen Coulter, executive VP of operations. “The fully automated production line allows Masonite to build a door in minutes that used to take up to six hours or more. All of this while employing additional people. By the end of the year, Masonite expects to employ 200 people at our Denmark facility.”
Masonite has been a member of the Denmark community since October 2010, when it purchased the 175,000-square-foot Lifetime Door manufacturing facility.
In related news, the company also recently filed a Form 10 Registration Statement with the U.S. Securities and Exchange Commission in order to register its common shares under the Securities Exchange Act of 1934, according to an Aug. 19 BusinessWire report. The company has also applied for the listing of its common shares on the New York Stock Exchange under the ticker symbol "DOOR". Masonite intends to withdraw its previously filed Form S-1 Registration Statement when the Form 10 Registration Statement and NYSE listing become effective, according to the report.
"This action is consistent with the desire expressed to us by a large portion of our shareholder base that they be able to maintain their existing ownership positions in advance of what many economists expect to be a multi-year, multi-stage recovery in the United States housing and construction markets," says Fred Lynch, president and CEO, Masonite.
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