LP closes on the previously announced sale of its 50% equity in two joint ventures that produce I-joists to Resolute Forest Products, Inc.
NASHVILLE, Tenn. (March 4, 2022) – LP Building Solutions (LP) (NYSE: LPX) today announced that it closed on the previously announced sale of its 50% equity interest in two joint ventures that produce I-joists to Resolute Forest Products Inc. (NYSE: RFP) (TSX: RFP).
The joint ventures were comprised of Resolute-LP Engineered Wood Larouche Inc. in Larouche, Quebec and Resolute-LP Engineered Wood St-Prime Limited Partnership in Saint-Prime, Quebec. The long-time partnership was established as an equity method investment in which both LP and Resolute Forest Products had a 50% interest in each entity.
In connection with the closing, LP entered into separate agreements with Resolute Forest Products to continue serving as the exclusive distributor of the engineered wood products manufactured at the two operations.
About LP Building Solutions
As a leader in high-performance building solutions, Louisiana-Pacific Corporation (LP Building Solutions, NYSE: LPX) manufactures engineered wood building products that meet the demands of builders, remodelers, and homeowners worldwide. LP's extensive offerings include innovative and dependable building products and accessories, such as Siding Solutions (LP® SmartSide® Trim & Siding, LP® SmartSide® ExpertFinish® Trim & Siding, LP BuilderSeries® Lap Siding, and LP Outdoor Building Solutions®), LP Structural Solutions (LP® TechShield® Radiant Barrier, LP WeatherLogic® Air & Water Barrier, LP Legacy® Premium Sub-Flooring, and LP® FlameBlock® Fire-Rated Sheathing and more), LP® TopNotch® Sub-Flooring, and oriented strand board (OSB). In addition to product solutions, LP provides industry-leading customer service and warranties. Since its founding in 1972, LP has been Building a Better World™ by helping customers construct beautiful, durable homes while our shareholders build lasting value. Headquartered in Nashville, Tennessee, LP operates 25 plants across the U.S., Canada, Chile, and Brazil. For more information, visit LPCorp.com.