Contact:
Louisiana-Pacific Corporation
Media Relations:
Mary Cohn, 615-986-5886
or
Investor Relations:
Becky Barckley/Mike Kinney, 615-986-5600
NASHVILLE, Tenn.–(BUSINESS WIRE)–Louisiana-Pacific Corporation (LP) (NYSE:LPX) today announced that it will shut down operations at its oriented strand board (OSB) mill in Silsbee, Texas, for an indefinite period of time effective Aug. 22. The mill has an annual production capacity of 350 million square feet and employs 147 people.
“The curtailment of our Silsbee operations is a difficult but necessary economic decision,” said LP’s Executive Vice President of OSB, Jeff Wagner. “Despite the hard work and continuous efforts of our employees, the cost of production at Silsbee remains too high to be competitive during this extended downturn in new residential construction.”
In addition, LP announced that it will also curtail OSB production until Oct. 31 at its Hayward, Wis., facility due to current poor market conditions. LP SmartSide® composite wood siding production will continue at Hayward as scheduled.
“We regret the hardship these curtailments cause employees, vendors and our communities. Unfortunately, current conditions require these types of actions,” Wagner stated.
The Silsbee and Hayward OSB curtailments are in addition to the 160-170 planned third-quarter down days LP had previously announced on its public earnings call last month.
“Most of the down days we announced on the second quarter earnings call were due to continued curtailment of operations at our St-Michel-des-Saints mill in Quebec, and major capital projects at two of our other facilities,” Wagner said.
LP is a premier supplier of building materials, delivering innovative, high-quality commodity and specialty products to its retail, wholesale, homebuilding and industrial customers. Visit LP’s web site at www.lpcorp.com for additional information on the company.
