Masonite Inc. Announces Acquisition of Israeli Steel Security and Safety Entry Door BusinessNovember 9th, 2009 by Editor
Masonite Inc. has announced its acquisition of the assets of 7 Tech, an Israeli-based steel security and safety door business. Masonite’s Israeli subsidiaries Etz Karmiel Ltd. and Open Gallery Ltd. will add the 7 Tech steel security and safety doors to the company’s interior and exterior wood door collection.The company says the move will create a single source of supply for Masonite customers in Israel. In addition to its growing Israeli market position, 7 Tech currently exports its products to Europe, and Masonite intends to expand the export opportunities throughout the Middle East and Europe.
“This exciting acquisition provides Masonite with an immediate entry into the Israeli security and safety door market with a state of the art manufacturing line, the latest product designs and technical specifications, and a detailed strategic marketing plan to grow significantly in the domestic as well as export markets,” says Larry Repar, executive vice president and chief operating officer of Masonite. “Through Etz Karmiel and Open Gallery, Masonite is already a recognized leader in the Israeli door market and we anticipate that 7 Tech will help us significantly expand our leadership position in the entire region. We are extremely excited to welcome the leadership of 7 Tech into the Masonite family.”