Press Releases

09.26.08Masonite Corporation Announces Supply Chain Financing Program Facilitated by PrimeRevenue, Inc.

 

TAMPA, FL, September 26, 2008 - Masonite Corporation today announced the completion of a Supply Chain Finance program facilitated by PrimeRevenue, Inc.

The agreement accommodates a one hundred percent advance rate on the accounts receivable balance from a large retail customer. This facility partially replaces a previous accounts receivable securitization on substantially consistent terms.

“We are very pleased to have worked with PrimeRevenue and our customer to launch this facility at comparable rates in an extremely difficult credit market. This transaction demonstrates our continued focus on creating cost efficient access to capital markets and strengthening cash flow,” said Fred Lynch, President and Chief Executive Officer of Masonite.

About Masonite:

Masonite is one of the world’s leading manufacturers of interior doors and entry door systems. Throughout the company’s 80 year history, Masonite has maintained its focus on leading-edge innovation, manufacturing excellence and superior customer service. Masonite is committed to delivering product and service innovations that will enhance beauty, functionality and architectural design to its customers around the world. Builders, remodelers, architects and homeowners rely on Masonite products to create homes of distinction while remaining environmentally responsible.

This release is available in the “News and Events” section of Masonite’s website at http://www.Masonite.com.

About PrimeRevenue, Inc.

PrimeRevenue's leading global Supply Chain Finance (SCF) platform and solutions enable dramatic new working capital efficiencies for the benefit of buyers and their suppliers. PrimeRevenue achieves this through the delivery of secure, robust, industry-leading technology, a global community of the world’s most innovative financial institutions and partners, and flexible working capital solutions and advice. Bank Technology News named PrimeRevenue as a “Top 20 innovation in the past 20 years” Companies are relying on SCF deployments powered by PrimeRevenue to increase profitability, remove risk from their supply chain, and forge stronger trading partner relationships. Headquartered in Atlanta, Georgia, PrimeRevenue has offices and customers throughout the world. For more information visit www.primerevenue.com.