Masonite

#3729

Rank

$2.24B

MarketCap US

US United States

Country

Summary
Masonite International Corporation designs, manufactures, markets, and distributes interior and exterior doors for the new construction and repair, renovation, and remodeling sectors of the residential and non-residential building construction markets worldwide. It offers molded panel, flush, stile and rail, steel, and fiberglass residential doors, as well as medium-density fiberboard (MDF) and architectural interior doors. The company also provides various door components, including interior door facings, agri-fiber and particleboard door cores, MDF and wood cut-stock components, critical door components, and mineral and particleboard door cores. It offers its products under the Masonite, Premdor, Masonite Architectural, Marshfield-Algoma, USA Wood Door, Solidor, Residor, Nicedor, Door-Stop International, Harring Doors, National Hickman, Graham-Maiman, Louisiana Millwork, Baillargeon, and BWI to remodeling contractors, builders, homeowners, retailers, dealers, lumberyards, commercial and general contractors, and architects through wholesale, retail, and direct distribution channels. The company was founded in 1925 and is headquartered in Tampa, Florida.

History

1924—1940: Invention of Masonite

In 1924, William H. Mason, engineer, inventor and apprentice of Thomas A. Edison, developed an innovative method for turning vast amounts of waste wood into useful products. By applying heat, steam and pressure to wood fiber, Mason created a type of hardboard known as Masonite that has since become an enduring material in the building products industry.Mason received funding from lumber companies in Wisconsin and Laurel, Mississippi to establish the Mason Fibre Company in 1925, which would later adopt the Masonite Corporation name. In late 1925, construction was started on the company's first plant in Laurel to produce insulation board and Mason’s newly-created hardboard.Masonite soon licensed facilities in Australia, Canada, Italy and Sweden to ramp up hardboard production. As the company grew, Mason increased the products’ performance and strength, and he was awarded numerous patents connected with Masonite. Mason continued to innovate until his death in 1940, and his legacy of innovation remains an important part of the company’s framework today.

1940—1970: Wartime contributions and wide-scale use

During World War II, Masonite’s hardboard became an important substitute for metals. The Army and Navy depended on the product to develop Quonset huts for soldier housing throughout the European and Pacific war theatres. For these efforts, Masonite Corporation earned three Army-Navy Production Awards.

After the war, Masonite looked to broaden the use of its hardboard. The product was used to create shipping containers, toys, artwork, furniture and more. Designers Charles and Ray Eames used Masonite hardboard in their popular line of postwar modernist furniture, including pieces designed for Herman Miller, Inc.The Masonite Innovation Center was built in 1960. Its sole purpose was, and continues to be, the development of new products and process innovations.

1970—2001: Foray into doors

Masonite entered the door business in 1972, when it began producing wood-composite molded door facings and other components. After a number of acquisitions, the company became part of International Paper in 1988.As Masonite’s door division steadily grew, the company formed an alliance with Premdor, a Toronto-based door supplier. By the 1990s, Masonite had become Premdor's largest supplier. With a desire for vertical integration and an eye on global expansion, Premdor reached an agreement to purchase Masonite from International Paper in September 2000. One year later, regulatory approval was granted, and the deal was completed.

2002—2013: Origins of modern masonite

Premdor officially changed its name to Masonite on January 1, 2002 and adopted the tagline of “The Beautiful Door.” The acquisition and strategic rebranding efforts were anticipated to help reduce raw materials and marketing costs while increasing customer demand for the company’s products worldwide.

In 2005, Masonite was acquired by KKR in a leveraged buy-out. Four years later, in response to an unprecedented downturn in the global housing market, Masonite filed for bankruptcy protection afforded by Chapter 11 statutes in the U.S. and the CCAA in Canada as part of a pre-arranged plan to restructure the company. Masonite emerged from a pre-arranged bankruptcy filing 85 days later, in June 2009.In 2013, Masonite filed a registration statement with the United States Securities and Exchange Commission and listed on the NYSE under the ticker symbol DOOR, to once again become a public company.

2014 — Present: global expansion and innovation

Nearly a decade later, Masonite has grown into a global company with operations in eight countries serving customers across 64 countries. Headquartered in Tampa, Florida, Masonite employs more than 10,000 people worldwide, and is the only door manufacturer to serve both the residential and architectural markets.Today, many of Masonite’s interior and exterior doors are conceptualized at the Masonite Innovation Center located in West Chicago, Illinois. The MIC, which is home to a number of innovative testing and research labs, is the largest known private research and development center in the world focused on door technology. The facility’s goal is to give Masonite an industry edge by developing environmentally friendly door solutions that help reduce energy consumption by providing insulating properties, ensure the safety and security of buildings through fire and storms and contribute to third-party sustainable building certifications.


Mission
Our mission is to be a best-in-class building products company that provides quality products, reliable service, and world-class customer experiences.

Vision
Our vision is to make everyone feel welcome with our doors and to be the leader in the industry.

Key Team

Mr. Robert A. Paxton (Sr. VP of HR)

Mr. Daniel J. Shirk (Sr. VP & Chief Information Officer)

Marcus Devlin (Director of Investor Relations)

Mr. James C. Pelletier (Sr. VP, Gen. Counsel & Corp. Sec.)

Lori Conrad (Director of External Communications)

Ms. Jennifer Renaud (Sr. VP & Chief Marketing Officer)

Ms. Clare R. Doyle (Sr. VP & Chief Sustainability Officer)


Recognition and Awards
Masonite has been recognized with several awards and accolades, including being named to the 2019 CIO 100, the 2018 Plant Engineering Product of the Year award, and the 2018 “Best of Show” award from the Architectural Workplace Product Showcase.

References
Masonite
Leadership team

Mr. Howard Carl Heckes (Pres, CEO & Director)

Mr. Russell T. Tiejema (Exec. VP & CFO)

Mr. Randal A. White (Sr. VP of Global Operations & Supply Chain)

Products/ Services
Advanced Materials, Manufacturing
Number of Employees
1,000 - 20,000
Headquarters
Tampa, Florida, United States
Established
1925
Company Registration
SEC CIK number: 0000893691
Net Income
100M - 500M
Revenue
Above - 1B
Traded as
DOOR
Social Media
Mon Feb 26 2024
About

businessabc offers a global business, SMEs wiki directory blockchain, NFTs, AI powered marketplace for businesses worldwide.

Follow Us
Produced by
In collaboration with
Logo

Copyright 2023 © businessabc powered by ztudium