US manufacturer of engineered wood building materials Louisiana-Pacific Corp. has announced it would acquire Vancouver-based Ainsworth Lumber Co. for around US$ 1.1 billion to help it capitalize on the US housing recovery and improve its access to Asia, according to Wall Street Journal. Ainsworth makes oriented strand board for markets in North America and Asia. The company has four manufacturing plants with a combined capacity of 2.5 billion square feet (232 million m²), and the potential to increase capacity to 3.1 billion square feet (288 million m²). The deal is expected to add to Louisiana-Pacific's oriented strand board segment, currently its biggest top-line contributor.
"Ainsworth has very high quality assets and provides us with an expanded suite of strand-based products and technologies, additional access to key international growth markets, particularly in Asia, and enhanced scale and efficiencies in North America", said Louisiana-Pacific Chief Executive Curt Stevens.
The deal is expected to close by the end of the year.
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