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Louisiana-Pacific To Acquire Barrier Fire Retardant Maker For Panels

Louisiana-Pacific Corp. has entered into an agreement to acquire International Barrier Technology Inc. for $22 million. The deal gives LP 100 percent of the fire retardant coatings company.

The acquisition is expected to close in October, subject to shareholder approval and customary conditions, including court approval. Barrier, which has its executive office in Watkins, Minnesota, also has a registered office in Vancouver, British Columbia. The company’s technology is used in products such as LP FlameBlock OSB panels.

LP CEO Brad Southern said the trend for more fire resistance in residential and commercial buildings continues to escalate, driven by changing building codes and their enforcement. “We are confident that this acquisition will help accelerate our growth into new markets,” he said.

“Flame retardant products are a key development target of our growth and innovation plans.”

Barrier will be a wholly owned subsidiary of LP and will operate as part of LP’s OSB business. LP said it will continue to honor Barrier’s existing contracts and customer services.

From Woodworking Network: http://www.woodworkingnetwork.com/news/woodworking-industry-news/lp-acquire-barrier-fire-retardant-maker-panels

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