Masonite Acquires Two India-Based Door ManufacturersJuly 1st, 2010 by Editor
Masonite Inc. announced yesterday that is has acquired the selected assets of two India-based door manufacturers—Feroke Boards Limited, located at Aluva near Cochin, Kerala State and Mahsim High Tech Fab Limited, located at Chanalon Industrial Area near Mohali, Punjab State.
Company officials say that they also are in the advanced stages of completing a third asset acquisition in a different region of the country.
Masonite says it has had a strong presence in India for many years selling branded, molded door facings to door manufacturers throughout the country, including Feroke and Mahsim. Company officials say they expect these transactions to allow the company to increase its direct presence in the India marketplace.
“The combination of the Feroke and Mahsim businesses, together with our well established independent door facing customers, will allow builders, contractors, and homeowners greater access to the wide assortment of Masonite branded and marketed products through our newly established national footprint,” says Larry Repar, Masonite executive vice president and chief operating officer.
“We are very excited about expanding our business and increasing our commitment to the Indian market,” adds Rahul Sharma, director of Asia Pacific for Masonite, based in New Delhi, India. “The growing demand for Masonite branded products in India will be better served by our new and expanded business strategy.”