ARAUCO Acquires FlakeboardJune 11th, 2012 | Category: Industry News
ARAUCO, a manufacturer of sustainable forest products, has signed an agreement to purchase Flakeboard, a manufacturer of panel products in the North American market, with seven production facilities throughout the United States and Canada producing MDF, particleboard and thermally fused melamine panels.
“This acquisition further highlights ARAUCO’s intent to grow our composite panel business and solidifies our commitment to be a leading supplier of sustainable, high-quality forest products to the North American market,” says Francisco Figueroa, ARAUCO-USA general manager. “We are very excited about the prospects ahead as we blend the talents and technology of ARAUCO-USA and Flakeboard. Our focus will continue to be on delivering industry-leading products to our customers.”
In January 2012, ARAUCO also acquired an MDF and particleboard facility located in Moncure, N.C., which will be combined with Flakeboard’s existing mills and operate under the Flakeboard name. Kelly Shotbolt, president and CEO of Flakeboard, and his senior management team will combine and lead this company.
ARAUCO and Flakeboard are targeting a closing date during the second half of this year.