LP Building Solutions (LP) announced an agreement with Pacific Woodtech to acquire LP's Engineered Wood Products (EWP) business for $210 million. The acquisition includes LP's laminated veneer lumber and I-joist manufacturing facilities in Wilmington, North Carolina; Red Bluff, California; and Golden, British Columbia, Canada, associated timber license assets, and the SolidStart brand. The completion of this transaction is subject to customary closing conditions and regulatory reviews and is expected to occur in the 3Q 2022.
"Adding the EWP facilities in Golden, Wilmington, and Red Bluff to Pacific Woodtech's existing EWP business propels our company to new growth," said Pacific Woodtech President and CEO Jim Enright. "We aim to drive positive change at the cutting edge of engineered wood products, and this acquisition will provide a more streamlined and focused EWP resource for the industry. We are committed to making this a seamless transition, one that allows for the retention and care of current employees, clients, and suppliers and strengthens our position as a leading force in the EWP market going forward."
As a leader in high-performance building solutions, Louisiana-Pacific Corporation (LP Building Solutions) manufactures engineered wood building products that meet the demands of builders, remodelers, and homeowners worldwide.