The German parent company of laminate flooring maker Pergo has put its North American operations on the block, according to an article in the Triangle Business Journal of Raleigh/Durham North Carolina.
Although no buyer has been identified yet, a company spokesperson for Pfleiderer AG, which also owns fiberboard producer Uniboard, said the parent company hopes to conclude the sales process for its North American operations by mid-2012.
Pergo employs approximately 165 people at its flooring manufacturing plant and distribution facility in Garner, N.C., according to the article. Uniboard opened a $160 million expansion of its wood-paneling plant in Moncure, N.C., in early 2010 and employs about 250 people in Chatham County. The Moncure plant is Uniboard's largest and most technically advanced fiberboard plant in North America. The company has four other plants in Canada.
Pfleiderer underwent a financial restructuring earlier this year, and as part of its deal with creditors, the company needs to reduce hundreds of millions in debt, according to the article.