Louisiana-Pacific Corporation (LP) has acquired the remaining 25% equity interest in LP-Brasil OSB Industria e Comercio SA (LP Brasil) from Masisa do Brasil LTDA in a US$24m deal.

LP Brasil operates the OSB plant located in Ponta Grossa, Parana, Brazil.

LP entered into a joint venture agreement with Masisa-Brasil in which it bought 75% of the plant and related assets. Masisa decided in May to exercise its option to sell its minority ownership.

“The completion of this purchase is an important next step in our strategic focus on growing business in South America,” said Rick Olszewski, LP’s executive vice-president of sales.

“We have enjoyed a rewarding partnership with Masisa over the last three years of the joint venture. The Brazilian operation has continued to improve and offers strong potential for the future.

“The Ponta Grossa operations position us to help satisfy the growing need for structural panels in South America and to support the burgeoning demand for affordable housing in Brazil.”

The Ponta Grossa OSB plant started up in 2003 and has an annual production capacity of 390 million ft².

LP also owns two OSB mills in Chile with a combined annual production capacity of 290 million ft².