Ainsworth Lumber Co. Ltd. (TSX:ANS)(TSX:ANS.WT) says it completed the previously announced purchase of the remaining 50% of Footner Forest Products Ltd. and its oriented strand board facility in High Level, Alberta from Grant Forest Products Inc. Ainsworth now owns 100% of Footner. The purchase price of CDN $20 million was paid using cash on hand.

The OSB mill in High Level, Alberta was originally designed to produce 860 million square feet per year (3/8th basis). Ainsworth says production at the mill was indefinitely curtailed in December 2007. Ainsworth says it will keep the Footner mill on a care and maintenance basis until market conditions support re-starting production at the mill.

Ainsworth says it is the fourth largest producer of Oriented Strand Board (OSB) in North America, operating four OSB mills in Canada. Ainsworth’s production capacity in 2010 on a 3/8” basis was 2.0 billion sq. ft. of OSB. Sales in 2009 were CDN$ 285.9 million. Company brands include StediTred, used in staircase construction.

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