ATLANTA, GA - Arauco subsidiary Flakeboard's plan to purchase three SierraPine panel mills has been called off. Arauco and SierraPine mutually agreed to terminate the asset purchase agreement "due to certain objections by the U.S. Department of Justice."
Flakeboard America Ltd. and SierraPine entered into the agreement Jan. 14. The sale of SierraPine's western operations included composite panel mills in California and Oregon.
Arauco North America said in a statement it will continue to operate its existing composite panel facilities in the U.S. and Canada.
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