LP gains stake in Brazilian OSB producer

Nashville, Tenn.-based Louisiana-Pacific announced it has completed the first phase of the purchase of a 75 percent stake in Masisa OSB Industria e Comercio.

The oriented strand board company has an annual production capacity of 375 million square feet.

The deal is expected to close in the third quarter of 2008, “following a transition period that will allow the two companies to work cooperatively to facilitate LP assuming full operating control of the OSB assets,” according to a statement.

“We are very pleased with this purchase,” said Rick Olszewski, executive vp-sales and LP’s specialty products businesses, and president of LP South America. “Our due diligence process confirmed our confidence in the quality of these assets and their potential to serve a growing demand for affordable housing in Brazil and other parts of South America.”

Also in South America, LP currently operates mills in Panguipulli, Chile, and in Lautaro, Chile.

Login or Register to post a comment.