Flakeboard and Arauco Finalise share purchase

6 November 2012

Flakeboard Company Limited and Arauco have finalised the sale agreement for all outstanding Flakeboard shares to Arauco.

Following this purchase agreement Arauco will combine Flakeboard's seven North American operating facilities with that of Arauco's recently acquired particleboard and MDF plant in Moncure, North Carolina.

The eight North American assets will operate under the Flakeboard name and its existing senior management. Effective immediately, the management team will be tasked with integrating and managing the combined operations.

Kelly Shotbolt will be retained as head of Flakeboard North America.