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LP and Masisa OSB Venture in Brazil

Posted by ecoshift on January 2, 2008

LP and Masisa Sign Memorandum of Understanding for OSB Venture in Brazil
PR-USA.net

Louisiana-Pacific Corporation (LP)(NYSE:LPX) announced today it has signed a Memorandum of Understanding (MOU) with Masisa S.A. Chile to acquire an ownership interest in the oriented strand board (OSB) manufacturing assets located in Ponta Grossa, Brazil. These OSB assets were placed in service in 2003 and have an annual production capacity of 375 million square feet.

“This is an important addition to LP’s investments in South America and will accelerate progress toward our strategic objective of growing our international business,” said Rick Olszewski, executive vice president of sales and LP’s specialty products businesses, and president of LP South America. “The Brazilian assets will help us continue to satisfy the growing need for structural panels in South America to support much needed affordable housing in the region. The venture also allows us to further expand our export business based on both freight and trade advantages that our South America mills will provide.”

LP currently operates an OSB and siding mill in Panguipulli, Chile, and is opening a second mill in Lautaro, Chile, in the first quarter of 2008. Additionally, LP is in the planning process of relocating its Woodland, Maine, OSB assets to a to-be-determined location in South America.

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