LP Building Solutions Acquires the Assets of Wawa OSB, a Subsidiary of Forex
LP Building Solutions to Acquire Forex's Wawa OSB Facility
LP Building Solutions announced on Friday (4-21-23) that it has entered into a definitive agreement under which LP will acquire the assets owned by Wawa OSB Inc., a subsidiary of Forex Inc. The transaction, which is subject to court approval and customary closing conditions, is expected to be completed in early May.
According to the press release, LP Building Solutions is planning on converting the OSB mill, which was built in the mid-1990s, into an LP® SmartSide® Trim and Siding mill. LP notes that the Wawa, Ontario, site is an ideal location for the LP SmartSide product as it is situated close to an ample and sustainable aspen wood timber basket, along with efficient logistics options.
Once converted, the mill will add approximately 400 million square feet of capacity, making it LP’s largest single-line siding mill. With the addition of the Wawa site, LP says its total siding capacity will increase to approximately 2.7 billion board feet annually.
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