Louisiana-Pacific Corporation (LP) finalized the acquisition of International Barrier Technology Inc. (Barrier), the Watkins, Minn.-based company that manufactures the fire retardant coating used in LP® FlameBlock® fire rated engineered wood products. The $22 million agreement involved cash for shares, making Barrier a wholly-owned subsidiary of LP, as the company said in the press release received by Lesprom Network.
LP announced its intentions to purchase Barrier in July, noting that the purchase provides long-term protection on the company’s continuing investment in FlameBlock market development and product sales.
LP will continue to honor Barrier’s existing contracts and service its customers’ needs. Barrier will operate as part of LP’s OSB business.
Louisiana-Pacific Corporation is a leading manufacturer of quality engineered wood building materials including OSB, structural framing products, and exterior siding for use in residential, industrial and light commercial construction.
