Louisiana-Pacific to restart Peace Valley OSB mill
In a press release announcing its Q4 2020 results, Louisiana-Pacific (LP) also announced it would be restarting its Peace Valley OSB mill in B.C.
“LP ended 2020 having exceeded our three-year transformation targets for growth and efficiency, with a cumulative EBITDA impact of $178 million. We reached this milestone a year early, largely as a result of exceptional SmartSide sales growth, which reached 30 per cent in Q4,” said LP chairman and chief executive officer Brad Southern in a press release. “In order to meet growing customer demand for SmartSide and OSB, LP will convert our mill in Houlton, Maine to the manufacture of SmartSide, with production beginning early in 2022, and we have begun the process to restart our OSB mill in Peace Valley, British Columbia. COVID made 2020 a difficult year for LP employees, our customers, their families, and the communities we all serve. Our results are a testament to their resilience and determination, and I am extremely proud of the results we achieved in the face of these challenges.”
The company plans to spend $10 million on the mill restart.