In addition to housing construction products, LP makes SuperStruct furniture panels, prefinished moulding, and software for housing plans. NASHVILLE - Louisiana-Pacific signed a letter of intent with Canfor to acquire Canfor’s 50% share in the Peace Valley oriented strand board (OSB) joint venture in Fort St. John, BC. LP will become the sole owner, paying $75 million, including working capital.
The two have been running the mill jointly.
“The Peace Valley mill has been a safe, productive and important part of our OSB strategy for the past seven years,” LP CEO Curt Stevens said. “The mill will continue to play an important role in LP as the housing market rebounds.”
In addition to the payment, Canfor may receive additional money over a three year period based on Peace Valley OSB’s annual earnings.
Currently LP provides operational support while Canfor provides labor, fiber resource management and administrative services. LP sells 100 percent of the product made there