CANADA (News release) -- LP Building Solutions (LP) and Forex Inc. have entered into a definitive agreement under which LP will acquire the assets owned by Wawa OSB Inc., a subsidiary of Forex Inc. The transaction will add to LP's assets a manufacturing facility in Wawa, Ontario that will be converted into an LP SmartSide Trim & Siding mill. The transaction, which is subject to court approval and customary closing conditions, is expected to be completed in early May 2023.
Once converted, the mill will add approximately 400 million square feet of capacity, making it LP's largest single-line siding mill. This will bring LP's total siding capacity to 2.7 billion square feet annually.
Built in the mid-1990s as an OSB mill, the site is an ideal location for SmartSide production due to its access to an ample and sustainable aspen wood basket and efficient logistics options. The mill's conversion will bring more than 150 sustainable jobs to the region, which has a long, rich history in forest product manufacturing.
LP is evaluating project schedules to determine when construction at the facility will begin. While a second SmartSide manufacturing line is still planned for LP's Houlton, Maine facility, this project will break ground after the conversion of the Wawa mill.
As a leader in high-performance building solutions, Louisiana-Pacific Corporation manufactures engineered wood products that meet the demands of builders, remodelers and homeowners worldwide.
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