May 09, 2016. /Lesprom Network/. Norbord Inc. reported Adjusted EBITDA of $61 million for the 1Q 2016 versus $16 million in the 1Q 2015 and $57 million in the 4Q 2015. The year-over-year improvement is primarily due to higher North American oriented strand board (OSB) prices and shipment volumes as well as lower resin prices and the weaker Canadian dollar, the company said in the press release received by Lesprom Network.

"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).