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Published Sat, Dec 31, 2011 03:53 AM
Modified Sat, Dec 31, 2011 06:28 AM

Uniboard to sell Chatham plants

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BY MARY CORNATZER - STAFF WRITER

Uniboard, which uses wood chips to make MDF and particleboard facilities in Chatham County, is selling those plants to a subsidiary of a Chilean manufacturer.

The deal with Paneles Arauco S.A. is valued at $62 million and is expected to close in the first quarter of 2012, according to a news release from the company's Germany-based parent, Pfleiderer AG.

Uniboard Canada came to Moncure after receiving $2.5 million in financial incentives from the state. In 2008, it bought an existing factory, ATC Panel, with 146 workers and planned to add 104 more. After investing about $142 million to recondition the old facility and build a new one, it opened the new plant in 2010.

Pfleiderer AG is selling its North American operations as part of an overall restructuring plan for the Pfleiderer Group, according to its news release.

Pfleiderer also owns the Pergo flooring factory in Garner. But that facility was not affected by the deal with Paneles Arauco.

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