NEUMAKRT, GERMANY – Pfleiderer AG, owner of PergoUniboard and other wood products divisions, announced it has reached agreement with approximately 30 banks on the conditions of long-term corporate financing totaling approximately $850 million.

The financing will be available to the company until the end of 2013.

The company said this cash flow will help it reduce its net debt by more nearly $500 million in the next four years.

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