A decision by the US Justice Department on whether to allow the US$523m purchase of Masonite Corp by Toronto-based Premdor is expected soon.
If the sale is approved, Masonite’s owner International Paper Co will be able to sell Premdor the 10 plants that Masonite runs in four countries that generate US$301m-worth of sales. Premdor has 60 plants in eight countries.
Masonite spokesperson Paul Derrick said: ‘We all expect approval to be given for the deal – it is only a question of when.’
He was unable to say whether there would be any rationalisation of facilities following approval.
The deal is also been vetted by the Irish government because of its implications for the Irish economy. Masonite Europe employs 330 at its plant at Carrick-on-Shannon which produces 18 million ft² of pressed door skins per year.
