JELD-WEN to Acquire CraftMaster Manufacturing

KLAMATH FALLS, OR –JELD-WEN Inc. has signed a letter of intent to purchase multi-plant wood interior door and exterior trim maker CraftMaster Manufacturing Inc. (CMI).

Chicago-based CMI manufactures and markets CraftMaster molded door facings and doors, MiraTEC treated exterior composite trim and Extira treated exterior panels.

The transaction expected to occur in the third quarter of 2012, includes CMI's flagship plant in Towanda, PA, plus four other door manufacturing facilities. The Towanda facility features 17.5 acres under roof and 273 acres of land. CMI firsts developed its CraftMaster molded door products in Towanda in 1968. The plant services customers in the United States, South America, Asia and Europe.

The four other manufacturing plants included in the pending deal include:

* Plainfield, IL, an 80,000-square-foot faclity that opened in 1969;

* Christianburg, VA, a 138,000-square-foot facility that opened in 1990;

* Ozark, AL, a 227,000-square-foot facility that opened in 2005;and

* Garland, TX, a 253,000-square-foot facility that opened in 2007.

The purchase will give JELD-WEN access to CMI's proprietary wood composite technology and expand its exterior products line.

CMI's mammoth flagship plant in Towanda, PA, has 17.5 acres under roof. "JELD-WEN is excited to add the entire line of CMI products – door facings, doors, trim and panels – and to further invest in the manufacturing, marketing and merchandising of products under the CraftMaster brand,” said Jim Morrison, executive vice president of JELD-WEN. Morrison added that plans call for expanding molded door facing designs under both the JELD-WEN and CraftMaster brand names and broadening the footprint of molded door facing facilities in strategic locations around the U.S. to better serve our customers.

Bob Merrill, president and CEO, and other CMI managers will remain in place, according to JELD-WEN.

JELD-WEN is North America's largest manufacturer of windows and doors. The company has approximately 20,000 employees across more than 100 locations in the Americas, Europe, Asia and Australia.