Door manufacturer Masonite International announced Thursday that it would be restructuring its Masonite Israel subsidiary in order to avoid a court-appointed trustee being placed in charge of the company.
In order to restructure, the company requested a stay from the Israeli courts after evaluating the company’s options. The Israel company is currently operating at a loss, and constituted under 1% of Masonite International’s sales in the last fiscal year.
The new Profile series of freestanding ranges from GE will allow homeowners to turn the oven on in between games of Candy Crush, among other things.
The Wi-Fi-enabled series of gas and electric ranges can be controlled remotely by the GE Brillion smartphone app.
“We’re expanding our line of connected appliances to make life easier while you’re on the go,” GE Product Manager Jonathan Sprigler said. “Consumers expect more things to be accessible through their phones, and GE is enabling them to have the control they want.”
Royal Building Products introduced a new series of windows this week. The Altitude commercial window series meet the classification to be used in commercial, mid-rise apartment and institutional products. For door and window makers, this means the potential to expand into that market.
Hardwood flooring retailer Lumber Liquidators is launching a sale through Sept. 2.
The Fall Flooring Kickoff Sale includes discounts — $1.69 per sq. ft. on its 5-inch Gunstock Oak flooring — a 10%-off coupon and two-year financing for all of its products.
Cary, North Carolina-based Ply Gem signed a deal with Fortune Brands Home & Security to acquire Simonton Windows.
The deal is valued at about 10 times Simonton’s earnings before interests, taxes, depreciation and amortization — about $130 million — and is expected to take close in October. Simonton’s annual revenues are more than $300 million.
Ply Gem will also acquire SimEx, a vinyl and PVC foam extrusion manufacturing plant in West Virginia, as part of the deal with Fortune Brands.