Chilean wood panel company ATC Panels, in partnership with a private equity group led by the Fairbanks family, has completed the purchase of Tarkett's equity share in Clarion Industries, a joint venture between the two companies. Clarion announced it has appointed Tony Sturrus, the former president and CEO of Pergo, as president of the newly restructured Shippenville, Pa.-based company.

“We are excited Tony Sturrus will lead the organization. He brings extraordinary business experience and industry knowledge,” said Juan Obach, chairman of Clarion Industries. "We are also delighted that the Fairbanks family and its new partners are invested in this joint venture with ATC Panels ... At a time when the industry is challenged by long lead times and foreign exchange instability, a highly efficient domestic plant provides a smart option to the laminate flooring market."

The sale to ATC Panels includes all the assets of Clarion Boards Inc., manufacturer of high quality Medium Density Fiberboard (MDF) and High Density Fiberboard (HDF); and Clarion Laminates LLC, manufacturer of premium laminate flooring products. The manufacturing facilities and corporate headquarters will remain based in Shippenville.

As part of the agreement, Tarkett will "continue to have Clarion Industries as a preferred and strategic partner for the supply of laminate flooring products in North America," Clarion said.