Oct 31, 2014. /Lesprom Network/. Norbord Inc. reported EBITDA of $15 million in the 3Q 2014 compared to $33 million in the 2Q 2014 and $45 million in the 3Q 2013. North American operations generated EBITDA of $7 million in the quarter versus $24 million in the prior quarter and $36 million in the same quarter last year. European operations generated EBITDA of $11 million in the quarter versus $12 million in both the prior quarter and the same quarter last year, as the company said in the press release received by Lesprom Network.

"In response to challenging North American OSB market conditions, we moved most of our annual maintenance shuts forward to the third quarter and curtailed additional production at several mills," said Peter Wijnbergen, President and CEO. "Despite this downtime, our mills ran very well - producing at stated capacity and holding onto manufacturing cost improvements achieved in the first half of the year. We generated $12 million in Margin Improvement gains so far this year and our recent capital investments are starting to pay back."

Norbord recorded earnings of $5 million in the 3Q 2014 compared to $11 million in the prior quarter and $27 million in the 3Q 2013.

In North America, Norbord's OSB shipments were in line with both the prior quarter and the same quarter last year and increased 7% year-to-date.

In Europe, Norbord's shipments increased 10% versus the prior quarter, 13% versus the same quarter last year and 6% year-to-date.

Norbord is one of the world's largest producers of oriented strand board (OSB). In addition to OSB, Norbord manufactures particleboard, medium density fibreboard (MDF) and related value-added products.