Kaycan to buy Uniboard Canada
In an all cash deal, Uniboard Canada and its North American particleboard, MDF, thermally fused melamine and laminate flooring facilities is being sold to Kaycan Ltd.
Pfleiderer Canada Inc., the parent company of Uniboard Canada Inc. announced it has entered into an agreement to sell its particleboard, MDF, Thermally Fused Melamine and Laminate Flooring facilities to a subsidiary of Kaycan Ltd., which specializes in vinyl, aluminum and engineered wood siding, trim and aluminum building products.
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.