LP sells Engineered Wood Products business to Pacific Woodtech for $210M

LOUISIANA-PACIFIC CORP

Sale includes LVL and I-joist plants in Wilmington, NC; Red Bluff, CA; and Golden, BC; plus SolidStart brand.
Transaction expected to close Q3 2022, subject to HSR and Canada Competition Act approvals.
LP Chair and CEO Brad Southern says deal marks another step in strategic transformation.
Proceeds: $210M cash, plus assumption of certain liabilities and purchase price adjustments.
LP's financial adviser is UBS Investment Bank; legal advisers are Troutman Pepper and Fasken Martineau.

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