Mar 29, 2004. /Lesprom Network/. Nexfor Inc. announced today that it has finalized the acquisition of MeadWestvaco's 50% partnership interest in Northwood Panelboard Company. Northwood Panelboard, previously owned jointly by Nexfor and MeadWestvaco, operates an oriented strand board plant (OSB) at Bemidji, Minnesota. Cost of the acquisition was US $36 million, including the repayment of debt. The planned acquisition was announced on February 19, 2004. Dominic Gammiero, President and CEO of Nexfor, said the acquisition was consistent with Nexfor's strategy to continue growing its OSB business. The Bemidji mill has an annual production capacity of 440 million square feet (3/8") and serves key markets in the United States. The mill is one of the industry's most cost effective OSB plants. Nexfor is the second largest producer of OSB in the United States. Its 10 OSB mills produce nearly four billion. square feet (3/8") of OSB a year.