NASHVILLE, Tenn., March 4, 2022 /PRNewswire/ -- LP Building
Solutions (LP) (NYSE: LPX) today announced that it closed on the
previously announced sale of its 50% equity interest in two joint
ventures that produce I-joists to Resolute Forest Products Inc.
(NYSE: RFP) (TSX: RFP).
The joint ventures were comprised of Resolute-LP Engineered Wood
Larouche Inc. in Larouche, Quebec
and Resolute-LP Engineered Wood St-Prime Limited Partnership in
Saint-Prime, Quebec. The long-time
partnership was established as an equity method investment in which
both LP and Resolute Forest Products had a 50% interest in each
entity.
In connection with the closing, LP entered into separate
agreements with Resolute Forest Products to continue serving as the
exclusive distributor of the engineered wood products manufactured
at the two operations.
About LP Building Solutions
As a leader in
high-performance building solutions, Louisiana-Pacific Corporation
(LP Building Solutions, NYSE: LPX) manufactures engineered wood
building products that meet the demands of builders, remodelers,
and homeowners worldwide. LP's extensive offerings include
innovative and dependable building products and accessories, such
as Siding Solutions (LP® SmartSide® Trim & Siding, LP®
SmartSide® ExpertFinish® Trim & Siding, LP BuilderSeries® Lap
Siding, and LP Outdoor Building Solutions®), LP Structural
Solutions (LP® TechShield® Radiant Barrier, LP WeatherLogic® Air
& Water Barrier, LP Legacy® Premium Sub-Flooring, and LP®
FlameBlock® Fire-Rated Sheathing and more), LP® TopNotch®
Sub-Flooring, and oriented strand board (OSB). In addition to
product solutions, LP provides industry-leading customer service
and warranties. Since its founding in 1972, LP has been Building a
Better World™ by helping customers construct beautiful, durable
homes while our shareholders build lasting value. Headquartered in
Nashville, Tennessee, LP operates
25 plants across the U.S., Canada,
Chile, and Brazil. For more information, visit
LPCorp.com.
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SOURCE LP Building Solutions