A system for manufacturing a panel includes a forming assembly having opposing press plates and at least one platen assembly arranged between the opposing press plates. The platen assembly includes first and second platens connected together via at least one elastic deformable member. Further, the forming assembly is operable in a heating mode and a cooling mode. Moreover, the first platen is maintained at a predetermined temperature range during each of the heating and cooling modes. During the heating mode, the elastic deformable member(s) is compressed such that the first and second platens contact each other. As such, one or more layers of material to be consolidated are held by the forming assembly as the forming assembly applies heat and pressure to the layer(s), thereby consolidating the panel.