by Web Editor | Mar 25, 2016 | News
Boise Cascade Co. has received antitrust clearance from the United States Department of Justice to proceed with its previously announced acquisition of Georgia-Pacific LLC’s engineered lumber production facilities located at Thorsby, Alabama, and Roxboro, North Carolina. Boise Cascade plans to complete the acquisition by the end of March 2016.
The Thorsby facility produces laminated veneer lumber (LVL). The Roxboro facility currently produces I-joists. Roxboro’s LVL production assets are currently idled. Boise Cascade expects to invest capital and hire additional employees to increase production at these mills in 2016 and beyond to obtain significant logistics benefits as well as to meet expected growth in new residential construction. Boise Cascade believes the addition of Thorsby and Roxboro will increase LVL billet capacity by 9 million cubic feet and I-joist capacity by 80 million lineal feet.
“We are pleased to be expanding our engineered wood products business and positioning ourselves to support customers as the U.S. housing recovery continues in the years ahead,” said Tom Corrick, CEO of Boise Cascade, when the acquisition was first announced.
“The additional engineered lumber capacity at Thorsby and Roxboro fit very well with our existing production facilities and will help us cost effectively deliver products to our customers. There are tremendous opportunities to optimize our mill system, and realize freight and other cost synergies. The acquired mills are located in attractive wood baskets with competitive fiber costs and improve our ability to support high growth housing demand.”
From Woodworking Network: https://www.woodworkingnetwork.com/news/woodworking-industry-news/boise-cascade-gets-antitrust-clearance-engineered-lumber-acquisition?ss=news,news,woodworking_industry_news,news,almanac_market_data,news
by Web Editor | Mar 20, 2015 | News
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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by Web Editor | Feb 11, 2015 | News
From: Panel World Staff
Norbord Inc. and Ainsworth Lumber Co. Ltd. announced that the Supreme Court of British Columbia has granted a final order approving the previously announced merger of Norbord and Ainsworth. Meanwhile Norbord and Ainsworth are providing the U.S. Dept. of Justice with the information it has requested about the transaction. Subject to the satisfaction of all closing conditions, the transaction is expected to close by the end of the first quarter.
The merger would create the largest OSB producer in the world with an OSB production capacity of 7.7 billion SF, according to the companies.
Norbord, based in Toronto, operates seven OSB North American mills, (six of them in the U.S. South) with one mill in Quebec, along with four mills in Europe. Ainsworth, based in Vancouver, BC, operates four Canadian OSB mills—three in Western Canada and one in Ontario. Prior to this transaction, Norbord reported it was third in OSB production capacity behind Louisiana-Pacific and Georgia-Pacific.
The new company will have opportunities to increase capacity through the expansion of Norbord’s OSB production in Western Europe, the restart of Norbord’s two idled mills in North America, and the completion of Ainsworth’s second line in Grand Prairie, Alberta.
The combined company will operate under the Norbord name. Upon completion of the transaction, Norbord shareholders will own 63% and Ainsworth shareholders will own 37% of the combined company.
Read more on this story in the March issue of Panel World…
