MONCURE, NC -- Uniboard USA LLC announced it has completed its sale of its MDF and thermo-fused melamine (TFM) facilities in Moncure to a subsidiary of Paneles Arauco.

The $62 million agreement had previously been announced on Dec. 29, 2011.

Uniboard's versatile Moncure plant opened in February 2010 and represented a $160 million investment. Though dubbed as the “Moncure MDF Mill,” the plant’s more than 120-foot-long Dieffenbacher press also is able to produce particleboard, high-density fiberboard (HDF) and low-density fiberboard (LDF) in thicknesses ranging from 3/16 inch to about 1-1/4 inches.

In addition to the Moncure MDF mill, Arauco also purchased a nearby facility that houses a pair of TFM lines. The two Moncure plants primarily service manufacturers of cabinets, closets and other panel-based products in the southeastern United States, with a large volume of capacity being shipped to the Pergo laminate flooring plant in Garner, NC.

Uniboard Canada Inc., which maintains four MDF and particleboard mills in Canada, and Pergo are owned by Pfleiderer of Neumarkt, Germany.

Uniboard Canada said it will continue to service the Canadian and U.S. market with its full range of products of particleboard, MDF, thermofused melamine.

Arauco, based in Santiago, Chile, is a diversfied forest products company. It produces plywood, millwork and mouldings, MDF panels, lumber and pulp. The company's subsidiary - Arauco USA - is based in Atlanta, GA.

As part of the agreement, Arauco will license the Uniboard Melamine collection for sales in the U.S. Southeast.

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