Dec 01, 2005. /Lesprom Network/. German wood processing group Pfleiderer AG has completed the acquisition of the engineered wood business of local rival Kunz in Germany and North America for Euro 192 million, Pfleiderer said on November 30, 2005. The initial purchase price of Euro 212 million was revised due to restructuring costs in Kunz's North American wood panel activities. Under the deal, Pfleiderer will also take over Kunz's banking and leasing liabilities worth Euro 267 million as at December 31, 2004. Kunz's acquired units, with a staff of 1 800, posted EBITDA of just under Euro 85 million on Euro 556 million sales for 2004.