Pfleiderer Management Opposes Potential Sale

Frankfurt, Germany, January 17, 2008--Pfleiderer CEO Hans Overdiek is not in favor of a complete sale of the company, which owns the Pergo laminate brand.

However, he said he wouldn’t object to taking on a strategic investor.

Pfleiderer said it has had overtures from financial investors, including one that wants to take over the company.

Earlier, the Financial Times Deutschland reported, without citing sources, that Pfleiderer's management has been in talks with private equity companies One Equity Partners and Allianz (nyse: AZ - news - people ) Capital Partners to sell the business, possibly fetching a price of more than 1.5 bln eur.

Overdiek would not confirm published reports that the company has been approached by One Equity Partners and Allianz Capital Partners to sell the business.

He said the Pfleiderer family, which holds almost 11 percent of the company is not interested in selling its shares.

The likely investors have told Overdiek that they would probably keep current management.