Masonite International
[2] In 1924, William H. Mason, engineer, inventor and apprentice of Thomas A. Edison, developed an innovative method for turning vast amounts of waste wood into useful products.By applying heat, steam and pressure to wood fiber, Mason created a type of hardboard known as Masonite that has since become an enduring material in the building products industry.With a desire for vertical integration and an eye on global expansion, Premdor reached an agreement to purchase Masonite from International Paper in September 2000.[9] Premdor officially changed its name to Masonite on January 1, 2002 and adopted the tagline of “The Beautiful Door.”[10] The acquisition and strategic rebranding efforts were anticipated to help reduce raw materials and marketing costs while increasing customer demand for the company’s products worldwide.Four years later, in response to an unprecedented downturn in the global housing market, Masonite filed for bankruptcy protection afforded by Chapter 11 statutes in the U.S. and the CCAA in Canada as part of a pre-arranged plan to restructure the company.[citation needed] In 2013, Masonite filed a registration statement with the United States Securities and Exchange Commission and listed on the NYSE under the ticker symbol DOOR, to once again become a public company.