TORONTO – Norbord Inc. said the U.S. housing slump is responsible for a first-quarter loss of $16 million, a reversal from the $58 million profit it posted in the same period a year ago. Sales for the first three months fell from $368 million to $261 million. COO Barry Shineton said, ‘Our company is well-positioned to weather what is going to be a difficult time. He said Norbord plans to cut costs by $45 million this year.

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