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 /PRNewswire/ – 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
TÃ©trault 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.