Pfleiderer Restructuring Continues with Sale of Uniboard Canada Inc.

Pfleiderer AG, one of the world's leading manufacturers of engineered wood, surface finished products and laminate flooring, has completed the sale of Uniboard Canada Inc. to a subsidiary of Kaycan Ltd., a Canadian-based manufacturer. Uniboard Canada is a North American leader in engineered wood products, producing particleboard, MDF, Thermally Fused Melamine and laminate flooring.

The sale of Uniboard Canada is part of Pfleiderer's ongoing restructuring program, which includes the planned sale of all of Pfleiderer's North American operations. Morrison Cohen LLP represented Pfleiderer in connection with the Uniboard Canada transaction, and has represented Pfleiderer in connection with prior transactions relating to the restructuring program, including the sale of Pfleiderer's particleboard, MDF, HDF and melamine plants in Moncure, North Carolina, to Arauco Panels Inc., an affiliate of Arauco Holdings, SA, a major Chilean-based forest products company. 

Further details of the transaction were not disclosed.