JELD-WEN to acquire Craftmaster
16 June 2012JELD-WEN Inc is to acquire door manufacturer Craftmaster in a move which will increase its focus on environmentally-friendly wood composite exterior products.
Closure of the deal is subject to due diligence and the signing of a definitive agreement, expected to occur in the third quarter of 2012.
Chicago-based Craftmaster has four door production plants - in Virginia, Alabama, Texas and Illinois, while a further large factory at Towanda, Pennsylvania manufactures high density fibreboard pre-stained moulded door designs.
The Towanda facility also makes MiraTEC treated exterior composite trim and Extira treated exterior panels - made from wood fibre, phenolic resins, zinc boarate, a water repellent and other ingredients to increase stability and durability in exterior applications.
JELD-WEN said the acquisition would increase its manufacturing footprint in the US and give it access to new technology, boosting its focus on environmentally-friendly wood composite exterior products.
"JELD-WEN is excited to add the entire line of Craftmaster products - door facings, doors, trim and panels - and to further invest in the manufacturing, marketing and merchandising of products under the CraftMaster brand," said Jim Morrison, executive vice-president of JELD-WEN.
