LP EWP business sale completed10 August 2022
LP Building Solutions has announced the completion of the sale of its engineered wood products (EWP) business to Pacific Woodtech for US$210m.
The acquisition includes LP’s laminated veneer lumber (LVL) and I-joist manufacturing facilities in Wilmington, North Carolina; Red Bluff, California; and Golden, British Columbia, Canada, associated timber license assets, and the SolidStart brand.
The deal was first announced in June.
“We believe that Pacific Woodtech is well positioned to invest in and grow the SolidStart brand, and its acquisition of LP’s EWP business marks another important step in LP’s ongoing strategic transformation,” LP chair and CEO Brad Southern said when the deal was first unveiled.
Pacific Woodtech has a stated aim to drive positive change at the cutting edge of engineered wood products. Its products include I-joists, LVL, formwork products and scaffold planks.