Assa Abloy sells Wood Door business in U.S. to Masonite
Graham is a manufacturer of flush architectural wood doors and Maiman is a manufacturer of thermal fused doors and stile and rail doors. The business had a turnover in 2017 of approximately $70 million (approx. SEK 600 million).
"I find it very satisfying that with Masonite the Wood Door business and employees get a committed, experienced owner that gives the business a new home and creates opportunities for the future," says Nico Delvaux, President and CEO of Assa Abloy.
"It was important to us that our customers, architects and end-users have continuity for products, service and support so these businesses are in good hands," states Lucas Boselli, Executive Vice President of Assa Abloy and Head of the Americas Division. "We will continue our focus on our steel door and frame leadership development in the market."
The transaction will have a positive effect on Assa Abloy´s operating margin and be neutral to EPS. ■