Door manufacturer Masonite International Corp is spending US$52m to buy into door manufacturers in Europe and Asia to take advantage of booming housing markets.
The company is acquiring 75% of Kronodoor from Europe’s Kronospan Holdings Ltd for US$27m and 50% of a Samling Strategic Corp subsidiary in Malaysia for US$25m.
Masonite said the acquisitions would give it significant opportunities in the world’s emerging high-growth markets.
