Pfleiderer announces agreement to sell UNIBOARD Canada Inc with its North American Particleboard, MDF, Thermally Fused Melamine and Laminate Flooring facilities to a subsidiary of Kaycan Ltd
LAVAL, QC, Sept. 5, 2012 /CNW Telbec/ - Pfleiderer Canada Inc., the parent company of Uniboard Canada Inc., a North American leader in engineered wood products, has entered into an agreement to sell its Particleboard, MDF, Thermally Fused Melamine and Laminate Flooring facilities to a subsidiary of Kaycan Ltd., a North American leader in vinyl, aluminum and engineered wood siding, trim and aluminum building products for over 38 years, in an all cash deal.
The Uniboard facilities sold to Kaycan include three particleboard lines, one MDF line, five thermally fused melamine lines and two laminate flooring lines servicing primarily the Canadian, US Northeast and Mid-West US markets. Kaycan is a private Canadian corporation focused on the North American building industry.
Uniboard's President and CEO James Hogg stated, "This agreement marks the dawning of an exciting new era for Uniboard. As a market leader in Quebec, Ontario and the Northeast United States market, this acquisition will allow Uniboard to reinforce our market position and to fully focus our attention on driving the business forward in both our panel and laminate flooring operations".
Kaycan's President Lionel Dubrofsky added, "We are fully committed to the growth of Uniboard in its core markets. We bring strong operating experience in the building products environment as well as a very solid financial basis to this deal. Uniboard's senior management will remain intact to manage the business. The direction of Uniboard and existing customer relations will be reinforced".
Closing of the transaction is expected in the third quarter 2012 subject to certain terms and conditions.
CIBC World Markets Inc. is acting as financial advisor and McCarthy Tétrault LLP and Morrison Cohen LLP are acting as legal advisors to Pfleiderer AG, Uniboard's ultimate parent company in Germany.
Davies Ward Phillips & Vineberg LLP is acting as legal advisor to
About Uniboard® Canada Inc.
Uniboard® Canada Inc. is a leading North American manufacturer of engineered wood products with 800 employees. Uniboard® has installed capacity of over 640 million square feet of raw particleboard, high-density and medium-density fiberboard, of which over 50% is converted into value-added melamine and laminate 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. Uniboard® is the largest supplier of thermofused melamine panels in North America. More information at: www.uniboard.com
Headquartered in Montreal, Quebec, Kaycan® is a leading vertically integrated manufacturer of vinyl and aluminum siding and accessories, engineered wood siding and trims, PVC and aluminum rainware, and aluminum coil with over 1200 employees operating 11 manufacturing facilities across North America. The company's products are sold throughout the world to retailers and distributors. More information at: www.kaycan.com
® Registered trademark of Uniboard Canada Inc
® Registered trademark of Kaycan Ltd.
SOURCE: UNIBOARD CANADA INC.For further information:
President and CEO
Uniboard Canada Inc.
1 450 682-5240
1 514 694 5855