Louisiana-Pacific Corporation (LP) has reported fourth-quarter net income of US$85m on sales from continuing operations of US$624m.
In the fourth quarter of 2004, net income was US$14m of sales from continuing operations of US$564m.
Chief executive officer Rick Frost said LP grew stronger in 2005. “We finished the year with a very strong balance sheet. We invested over US$250m into our existing plants and new capacity through our joint ventures.”
He said a significant milestone in the company’s investment programme was marked with the production of the first board at the new Peace Valley joint venture OSB mill which has a planned full production annual capacity of more than 800 million m2.
Expansion of the company’s Chilean operations was also announced. An obsolete OSB mill will be relocated there to give an additional 160 million m2 of yearly capacity
