LAVAL, QC, March 27, 2012 /CNW Telbec/ - Earlier today Pfleiderer AG
announced that the implementation of its restructuring plan had been
blocked by the Higher Regional Court in Frankfurt.
The Management Board of Pfleiderer AG is now preparing to file an
application for insolvency for Pfleiderer AG in order to implement its
This application in Germany to institute insolvency proceedings would
only affect Pfleiderer AG and would have no direct effect on its
operating subsidiaries such as Uniboard®.
Uniboard® operates financially and organizationally independently from Pfleiderer
AG which is just a holding company. We understand that there may be
some uncertainty on the part of our employees, customers, suppliers,
and other business partners however financing for our operating
business is in place and the business is expected to continue to run as
usual. In particular, our suppliers will continue to be paid promptly
in accordance with the agreed upon payment terms and no job losses will
result directly from the foregoing.
Uniboard® Canada Inc., a subsidiary of Pfleiderer AG, is a leading North American
manufacturer of engineered wood products, with installed capacity of
over 1.1 billion square feet of raw particleboard, high-density and
medium-density fiberboard, of which over 50% is converted into
value-added melamine and laminated flooring products. Its products are
sold to retailers, distributors and finished goods manufacturers, which
cater to the kitchen cabinet industry, the furniture industry, the
renovation and construction industries, as well as to the floor
covering industry. Uniboard® is the largest supplier of thermofused melamine panels in North America.
More information at: www.uniboard.com
SOURCE UNIBOARD CANADA INC.
For further information:
James N Hogg
Uniboard Canada Inc
Tel +1 450 682 5240
® Registered trademark of Uniboard Canada Inc.