Louisiana-Pacific Corporation (LP) announced that its Peace Valley facility in Fort St. John, British Columbia, Canada, will indefinitely curtail production of oriented strand board (OSB) beginning early in the 3Q.
“Despite efforts by our Peace Valley team to reduce costs over the past several months, this decision is necessary to support the optimization of our OSB business in challenging market conditions,” said Jason Ringblom, LP Executive Vice President for OSB. “Declining housing starts, high wood costs and associated cost pressures require us to take this action that aligns with our performance driven strategy.”
Ringblom added, “This decision ensures that LP is efficiently balancing our commodity OSB production with our customer demand and improving the overall competitiveness of our OSB business. Going forward, we will leverage our strong manufacturing footprint across Canada and the U.S. to meet the needs of our valued customers.”
The Peace Valley OSB mill currently employs approximately 190 people. It has a stated annual capacity of 800 million square feet (3/8-inch basis).
Louisiana-Pacific Corporation is a leading building solutions company that invents, manufactures and delivers uniquely engineered, innovative building products.