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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. [7] [8] As Masonite’s door division steadily grew, the company formed an alliance with Premdor, a Toronto-based door supplier.
Philip S. Orsino, OC (born June 21, 1954) is a Canadian businessman. He is the former president and chief executive officer of Masonite International Corporation.. Born in Toronto, Ontario, he received a Bachelor of Arts degree in 1976 from the University of Toronto's Victoria College.
Masonite, also called Quartboard or pressboard, [2] is a type of engineered wood made of steam-cooked and pressure-molded wood or paper fibers. The fibers form a stiff, dense material in a range of weights.
In addition, the company has earnings growth potential from delivering on its target of $125 million in synergies from the acquisition of doors and door system company Masonite in 2023.
In that case, it will have bought Masonite for just 6.8 times its earnings before interest, taxes, depreciation, and amortization (EBITDA) at the bottom of the housing market cycle.
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Fortune Brands Innovations, Inc. (or "Fortune Brands") is an American manufacturer of home and security products, headquartered in Deerfield, Illinois.Its portfolio of businesses and brands includes Moen and the House of Rohl; outdoor living and security products from Therma-Tru, Larson, Fiberon, Master Lock and SentrySafe; and MasterBrand Cabinets.