- Masonite International ( NYSE: DOOR ) on Thursday disclosed a restructuring plan to drive cost efficiencies through an optimized manufacturing footprint.
- This plan includes restructuring actions across Masonite's ( DOOR ) North American residential and architectural segments.
- The company expects pre-tax restructuring and other closure costs of $15M-$20M starting in Q4 and continuing through FY23, of which ~65% will be cash expenditures.
- Masonite ( DOOR ) expects to complete restructuring by the end of FY23 and realize annual cash savings of ~$15M-$20M thereafter.
- Read why SA author Mark Van Mater expects Masonite's ( DOOR ) stock to appreciate as demand for its products remains strong .
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Masonite announces restructuring plan, expects annual cash savings of ~$20M