USA - Owens Corning, a prominent player in the construction and building materials industry, has made a significant move by announcing its acquisition agreement with Masonite International Corp.

This transaction, valued at around USD 3.9 billion, is expected to strengthen Owens Corning's residential building materials portfolio and support its  long-term growth strategy.

Following the anticipated completion of the transaction in mid-2024, pending regulatory approvals, Masonite will become a newly reportable segment within Owens Corning. The acquisition is forecasted to generate annual cost synergies of approximately USD 125 million, leading to significant value creation for shareholders.

Founded in 1938 and based in Toledo, Ohio, Owens Corning is a global building and construction materials leader committed to building a sustainable future through material innovation.

Founded in 1925, Masonite designs, manufactures and markets doors and door systems, with a vertically integrated manufacturing model, serving both repair and remodel and new construction demand. Masonite operates 64 manufacturing and distribution facilities, primarily in North America, and has over 10,000 employees globally.