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Louisiana-Pacific to Divests LP's East River, N.S. Facility
NOVA SCOTIA (News release) -- In a bid to remove fiber products from portfolio and focus on LP SmartSide strand siding technology, Louisiana-Pacific Corporation LPX has inked a deal with Maibec to divest LP's East River facility, located in Nova Scotia, Canada. Following the divestiture, Maibec will also take charge of the assets and brand rights of CanExel -- the fiber-based siding product manufactured in the East River facility.

However, terms of the deal were kept under wraps. The deal is expected to occur in the second quarter of 2020.

Executive Vice President & General Manager of Siding Neil Sherman stated, "This strategic decision to remove fiber products from our portfolio allows us to mobilize additional resources, increase focus and commitment for our LP SmartSide strand siding technology, and accelerate growth of LP SmartSide ExpertFinish, our new line of prefinished strand-based siding. The future for SmartSide strand is bright, and we expect great things to come."

Post the divesture, LP's Siding business will focus exclusively on meeting high customer demand for its strand-based siding products.

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