High-performance building products manufacturer LP Building Solutions has agreed to acquire assets owned by forest products developer Forex’s subsidiary Wawa OSB.
According to the definitive agreement between the companies, a manufacturing facility in Wawa, Ontario, will be converted into an LP SmartSide Trim & Siding mill.
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Following conversion, it will be owned by LP Building Solutions and become its largest single-line siding mill.
The mill will add nearly 400 million square feet, which will increase LP’s total annual siding capacity to 2.7 billion square feet.
Constructed as an oriented strand board (OSB) mill in the mid-1990s, the site serves as an appropriate location for SmartSide production because of its access to sustainable aspen wood baskets and efficient logistics choices.
With a long history of producing forest products, the redevelopment of the mill will provide over 150 sustainable jobs in the area.
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By GlobalDataProject schedules are being reviewed by LP to decide when work at the plant will start.
Siding executive vice-president and general manager Jason Ringblom said: “LP SmartSide Trim & Siding has experienced tremendous growth over the past few years, becoming one of the fastest-growing siding brands in the United States.
“In response to customer demand, we continue to expand our capacity across North America to position SmartSide for long-term growth. Our acquisition of Forex’s Wawa facility is a great addition to our fleet of siding mills and a perfect example of how we are investing in the future of SmartSide.”
Set to be completed in early May, the transaction will be subject to court approval and customary closing conditions.
LP has also planned to develop a second SmartSide manufacturing line for its facility in Houlton, Maine.
Construction on this will begin after the conversion of the Wawa mill.
