Norbord And Ainsworth Lumber Provide Update On Merger And Closing

Norbord Inc. and Ainsworth Lumber Co. Ltd. today announced that they have been informed by the Antitrust Division of the United States Department of Justice that it has closed its review of the previously announced combination of Norbord and Ainsworth. Norbord and Ainsworth expect the transaction to be completed on March 31, 2015.

On December 8, 2014, Norbord and Ainsworth announced that they had entered into an arrangement agreement under which Norbord and Ainsworth would merge to create a leading global wood products company focused on oriented strand board (OSB) across North America, Europe and Asia.

Under the terms of the transaction, Norbord will acquire all of the outstanding common shares of Ainsworth in an all-share transaction. Ainsworth shareholders will receive 0.1321 of a share of Norbord for each Ainsworth share.

On January 27, 2015, the transaction was overwhelmingly approved by the shareholders of each of Norbord and Ainsworth. On January 30, 2015, the Supreme Court of British Columbia granted a final order approving the combination of Norbord and Ainsworth by way of a plan of arrangement under the Business Corporations Act (British Columbia).

Isaias Damages $33.5 Million in Alabama Timber

Hurricane Isaias damaged more than 2.5 million tons of timber valued at more than $33.5 million in southwest Alabama, according to a preliminary aerial assessment by the Alabama Forestry Commission (AFC). The Category 2 storm…

BASF Reveals New MDI Plant In Louisiana

BASF Corp. planned its new MDI plant inauguration celebration in Geismar, La. in November. Representing a nearly $1 billion investment, the event markes the completion of BASF’s multi-year MDI expansion project and reinforces the company’s…

Siempelkamp, Hexion Go Separate Ways On AI Development

Siempelkamp and Hexion have ended their cooperation toward the development of AI solutions for the wood-based panel industry. Siempelkamp states it will continue to pursue its own strategy in this area, and Hexion says its…

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