"Our 1Q Adjusted EBITDA result is almost a four-fold increase from a year ago. I'm also encouraged by the sequential improvement despite the seasonally lower North American benchmark OSB prices," said Peter Wijnbergen, Norbord's President and CEO. "Our mills in both North America and Europe continued to deliver strong operational results, generating $9 million in Margin Improvement Program gains. In the 12 months since our merger with Ainsworth, we have captured $32 million in annualized synergies and remain on track to deliver our full $45 million target by the end of 2016."
Norbord Inc. is a leading global manufacturer of wood-based panels and the world's largest producer of oriented strand board (OSB).