Pfleiderer's North American subsidiary Uniboard will sell the particleboard and MDF/HDF mill in Moncure, North Carolina, to a subsidiary of Paneles Arauco. An agreement to this effect was announced on 30 December. The transaction has a value of US$62m (around €47.5m) including working capital and is to close during the first quarter of 2012. From what Uniboard says Aurauco will continue manufacturing the Uniboard melamine collection in the south-east of the USA under a license as a part of the acquisition. Pfleiderer had put its whole loss-making North American operations up for sale in connection with its current restructuring efforts. However, an analysis has since shown that a combined sale of the Uniboard locations in Canada and the US would be difficult. The sale of the Moncure location should now make it easier to sell the Canadian locations. Moreover, Pfleiderer continues its search for a buyer for Pergo's operations in North America, which include a laminate flooring mill in Garner, North Carolina, among other things.
Pfleiderer: Moncure to be sold to Arauco
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