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).

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Hood Industries Announces Plywood Mill Closure In Mississippi

Hood Industries has said it is closing its plywood mill in Wiggins, Miss., which Hood has operated since 1984 and was started up in 1971 by International Paper. Hood Industries’ closure at Wiggins will affect…

Union Pacific Signs Contract For Domestic Rails

Union Pacific Railroad and Rocky Mountain Steel Mills have reached a new, seven-year contract for the domestic production of steel rails, underscoring Union Pacific’s clear commitment to buying the majority of its rail from a…

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