LP To Acquire Ontario OSB Facility
LP Building Solutions (LP) and Forex Inc. have entered into a definitive agreement for LP to acquire the assets owned by Wawa OSB Inc., a subsidiary of Forex Inc. The manufacturing facility in Wawa, Ontario will be converted into an LP SmartSide trim and siding mill. The transaction, which is subject to court approval and customary closing conditions, is expected to be completed in early May 2023.
“LP SmartSide Trim & Siding has experienced tremendous growth over the past few years, becoming one of the fastest-growing siding brands in the United States,” says Jason Ringblom, Executive Vice President and General Manager of Siding. “In response to customer demand, we continue to expand our capacity across North America to position SmartSide for long-term growth. Our acquisition of Forex Inc.’s Wawa facility is a great addition to our fleet of siding mills and perfect example of how we are investing in the future of SmartSide.”
Once converted, the mill will add approximately 400 million sq. ft. of capacity, making it LP’s largest single-line siding mill. This will bring LP’s total siding capacity to 2.7 billion sq. ft. annually.
Built in the mid-1990s as an OSB mill, the site is an ideal location for SmartSide production due to its access to an ample and sustainable aspen wood basket and efficient logistics options. The mill’s conversion will bring more than 150 sustainable jobs to the region.
LP is evaluating project schedules to determine when construction at the facility will begin. While a second SmartSide manufacturing line is still planned for LP’s Houlton, Me. facility, the project will now break ground after the conversion of the Wawa mill.
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