Norbord, LP to exchange OSB mills in Quebec
Oct. 28, 2016 - Two OSB mills in Quebec will swap ownership after a mill exchange agreement was reached today between Norbord Inc. and Louisiana-Pacific Corporation (LP).
Norbord will swap ownership of its mill in Val-d'Or for LP's OSB mill in Chambord. Both mills have been curtailed for a number of years.
"This asset exchange will better align our portfolio of northern mills with our business strategy," said Peter Wijnbergen, Norbord's president and CEO. "The Chambord mill is larger and located in the Saguenay-Lac St. Jean area, which is the biggest timber-producing region in Quebec. While market conditions do not support an immediate restart of Chambord, the asset is in good condition and is located closer to key markets, representing a better competitive opportunity for Norbord."
The mills are expected to be under their new ownership by November.
LP curtailed its Chambord OSB mill in 2008. The mill was built in the 1980s and has a stated capacity of 470 million square feet (3/8-inch basis).
Norbord's assets in Quebec also include an operating OSB mill in La Sarre and a technology research and development centre in St-Laurent. Norbord invested more than US$35 million over the last five years in La Sarre in new technology, equipment and processes.
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