Masonite International Corp. Provides Business Update Regarding COVID-19

3/29/20

TAMPA, Fla.--(BUSINESS WIRE)--Masonite International Corporation (NYSE: DOOR) today announced business updates related to novel coronavirus (COVID-19).

In recent weeks we have seen the impacts of COVID-19 grow both domestically and abroad. Accordingly, the company has taken actions to both protect its employees and focus on business continuity. While our top priority is the health and welfare of our employees, we take seriously our commitment to serve our customers. We are endeavoring to maintain operations to continue supplying the industry during this uncertain time, recognizing the important role our customers and our products play in construction related to providing residential shelter and health care services.

In early March, we formed a cross-functional COVID-19 Response Team to assess potential business impacts and implement mitigation strategies. Since then, we have expanded this team to include sub-teams focused on critical workstreams, including: Employee Welfare, Supply Chain and Operations, Customer Engagement, Financial Stability, and Communications. The following are updates with respect to impacts and our actions in some of these areas.

Employee Welfare

To reduce the potential spread of COVID-19 and maintain a safe work environment, we have implemented an increasing list of actions since early March. Beyond following and providing employees with the Centers for Disease Control’s (CDC) recommended guidelines to decrease the spread of the virus, we have taken additional steps to reduce our employees’ potential exposure.

Where possible, we have instructed employees to work from home and today all customer interaction including order entry and receivables are being effectively handled remotely. Where remote work is not possible, we have taken steps to restrict visitor access to facilities, adjust break times and create additional break areas to help reduce employee density, and manage shift schedules to reduce employee contact during shift changes to facilitate proper social distancing.

Masonite realizes the current situation has also caused some employees personal challenges outside of work and we have modified employee policies related to attendance and the availability of paid and unpaid time off. Further, attendance is voluntary at locations where Masonite’s operations are exempt from applicable stay-at-home orders and continue to operate.

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