Arauco and SierraPine announce mutual termination of asset purchase agreement
16 October 2014In January 2014 Arauco announced that its subsidiary, Flakeboard America Limited, had signed an asset purchase agreement with the US company, SierraPine for the acquisition of three industrial panel mills located in the states of California and Oregon.
Recently, due to certain objections by the US Department of Justice, Arauco and SierraPine have jointly and voluntarily agreed to terminate the proposed transaction.
Arauco North America will continue to operate its existing composite panel facilities in the US and Canada. Furthermore, the company will continue to provide North America with ready access to supply of responsibly produced forest products from its South American operations.
