MONCURE, NC -- Uniboard®USA LLC, a North American leader in engineered wood products, has entered into an agreement to sell its MDF and Particleboard facilities located in Moncure, North Carolina to a subsidiary of Paneles Arauco S.A.
The Moncure facilities sold to Arauco includes particleboard, MDF and TFM production capacity servicing primarily the US South East. Uniboard®Canada Inc. will continue to service the Canadian and US market with its full range of products of particleboard, MDF, thermofused melamine including the Uniboard® Melamine collection as well as laminate flooring from its mills in Sayabec, Val d'Or, Mont Laurier and Laval.
Arauco will license the Uniboard®Melamine collection for sales in the US South East providing a seamless transition for the customer base.
Closing of the transaction is expected in the first quarter 2012 subject to certain terms and conditions.
CIBC World Markets Inc. is acting as financial advisor and Morrison Cohen LLP is acting as legal advisor to Pfleiderer AG.
About Uniboard®USA LLC
Uniboard®USA LLC, a subsidiary of Pfleiderer AG, is a sister company of Uniboard® Canada Inc, a leading North American manufacturer of engineered wood products, with installed capacity of over 1.1 million cubic metres of raw particleboard, high density and medium density fiberboard, of which over 50% is converted into value added melamine and laminated flooring products. Its products are sold to retailers, distributors and finished goods manufacturers, which cater to the kitchen cabinet industry, the furniture industry, the renovation and construction industries, as well as to the floor covering industry.
About Pfleiderer AG
The Pfleiderer AG (ISIN DE 0006764749) is one of the world's leading producers of engineered wood. The company employs approximately 5,100 people and operates 17 locations in North America, Western and Eastern Europe producing engineered wood, surface finished products and laminate flooring. Pfleiderer is a preferred partner of the furniture industry, specialist and home improvement stores, and interior design suppliers. In fiscal year 2010, the Group generated consolidated revenues of approximately €1.5 billion. More information at: www.pfleiderer.com
SOURCE: Uniboard Canada Inc.
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