Sep 25, 2012. /Lesprom Network/. On June 7, Celulosa Arauco y Constitución S.A. (Arauco) signed a purchase agreement to acquire 100% of the shares of Flakeboard Company Limited. The transaction price was agreed at $242.5 million, and its closure remained subject to the fulfillment of a number of conditions precedent, as the company said in the press release received by Lesprom Network. Consequently, Arauco has acquired Flakeboard, a company that operates seven panel mills in the United States and Canada. Flakeboard owns and operates, directly and/or through its subsidiaries, seven panel mills that have a combined annual production capacity of 1.2 million cubic meters of MDF (Medium Density Fiberboard); 1.1 million cubic meters of PB (particleboard); and 180,000 cubic meters of melamine laminate. With this transaction closure, Arauco consolidates its position in the North American panel production sector, in which it already operates through its Moncure Facility located in North Carolina, USA. Moncure was acquired by the company in January of this year.