by Web Editor | Dec 29, 2015 | News
Georgia-Pacific LLC announced today that it has reached an agreement to sell its engineered lumber business to Boise Cascade for $215 million, including working capital. The transaction is subject to standard regulatory review and other customary closing conditions.
“Georgia-Pacific is firmly committed to the building products industry. Although the engineered lumber business has been profitable and employees have done a great job running safe, productive assets and meeting our customers’ needs, it is not a large part of our overall building products division,” said Mark Luetters, Georgia-Pacific executive vice president–building products. “We believe this potential sale to an established player in the industry is in the best interest of our engineered lumber employees, customers and stakeholders.”
Once completed, the sale will include the engineered lumber operations located at Thorsby, Alabama, (approximately 230 employees) and Roxboro, North Carolina, (approximately 40 employees), along with a commercial sales and technical team.
From LBM Journal: https://www.lbmjournal.com/georgia-pacific-to-sell-engineered-lumber-business-to-boise-cascade/
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…
by Web Editor | Dec 18, 2014 | Update
Georgia-Pacific is investing $6 million at its Thorsby, Ala. engineered lumber operations to expand production capacity of laminated veneer lumber (LVL). In a move that positions the facility for long-term success, according to the company, improvements include upgrading the press system’s layup line and veneer sheet feeders, as well as increasing overall veneer dryer capacity and efficiency. Project completion is expected by the second quarter of 2015.
“As the housing market continues a slow but steady improvement, we are investing in our building products division to ensure our ability to meet growing customer needs,” says Paul Watterson, general manager for Georgia-Pacific’s engineered lumber business. “Along with being located within a good wood basin that provides easy access to raw materials, the improvements to our Thorsby operations will increase our ability to supply LVL—a key component for beams and headers in new construction.”
