Masonite turnover to be boosted by acquistions
Masonite now reckons with a combined corporate turnover to US$1.75bn this year and has thus raised its previous forecast published in the 2011 annul report by around US$50m. EBITDA is expected to reach roughly US$95m. The group expects that the acquisitions of the doors producers Baillargeon Doors and Algoma Hardwoods will lead to the sharper than expected increase in turnover and profits. Masonite had completed the Baillargeon acquisition in March and the take-over of Algoma in April.