LISBON – Masonite Corp., a local manufacturer of fiberboard, has been sold to a Chicago building products firm.

Knight Industries announced the sale Tuesday. Through its Knight-Celotex division, the company plans to maintain operations at the Lisbon facility where 118 people are employed.

“The Lisbon facility people, customer service and products are highly respected by their customers,” stated James A. Knight, CEO of Knight Industries, in a release. “We plan to build upon that respect through our local employees and the resources of Knight-Celotex. Our customers will continue to rely upon the Lisbon people they know and trust.

“The combined resources and expertise of Knight-Celotex and the Lisbon facility will significantly enhance our ability to meet customer requirements for innovative, high quality and cost-effective products.”

Knight-Celotex is working with Androscoggin County and state officials to create collaborative partnerships to strengthen the competitiveness of the Lisbon facility. Part of that collaboration is the possibility that section of Lisbon will be designated a Pine Tree Zone to encourage development.

“The prospect of Lisbon being designated as one of Maine’s Pine Tree Development Zones for targeted economic development is what makes this investment an attractive opportunity for Knight-Celotex,” said Knight.

Jack Cashman, commissioner of the Maine Department of Economic and Community Development, applauded the sale.

“The purchase of the Lisbon facility means well-paying manufacturing jobs will be retained and that is always good news for the people of Maine. I’m pleased that state programs like the Pine Tree Development Zone are working to encourage quality manufacturers to invest in our communities.”

No purchase price was disclosed.

Knight-Celotex is a leading manufacturer of insulation sheathing, sound deadening and roofing fiberboard for the residential and commercial construction industry. The Lisbon facility fiberboard products serve manufacturers of office partitions, interior doors, laminated furniture products, and bulletin boards. Expansion joint fillers and commercial roofing substrates also are manufactured there.

The Lisbon Falls plant has manufactured fiberboard since 1984.