Nashville-based manufacturer of premium building products, LP Building Solutions, has entered an agreement to purchase the assets owned by Wawa OSB Inc., which is a subsidiary of Forex Inc. This acquisition will add to LP Building Solutions’ assets a manufacturing plant in Wawa, Ontario that will eventually be converted into a Trim & Siding mill. The purchase is subject to court approval and fulfillment but is expected to be closed in early May 2023.
“LP SmartSide Trim & Siding has experienced tremendous growth over the past few years, becoming one of the fastest-growing siding brands in the United States,” said executive vice president and general manager of Siding, Jason Ringblom. “In response to customer demand, we continue to expand our capacity across North America to position SmartSide for long-term growth. Our acquisition of Forex Inc.’s Wawa facility is a great addition to our fleet of siding mills and perfect example of how we are investing in the future of SmartSide.”
Ontario Trim & Siding Mill to be LP’s Largest
The new Ontario mill is predicted to add roughly 400 million sq. ft. of capacity which would ensure it becomes one of LP’s largest single-line siding mill. “We are thrilled to see the continued revival of this wood-based plant coming true,” said Forex executive vice president, Yolaine Rousseau. “We would like to thank all the employees, First Nations, suppliers and local authorities for their support of this project.” Once the mill is built, it will bring LP’s complete siding capacity to $2.7 billion sq. ft. each year.
Originally built in the mid-1990s as an OSB mill, the location is ideal for LP’s Smartside Trim & Siding mill development because of its access to sustainable aspen wood basket advanced logistic solutions. The mill’s production is set to bring over 150 sustainable jobs to the municipality of Wawa, which has a long outstanding history in the forest manufacturing industry. LP does not have a set date of when exactly production on the mill will begin.
The company’s acquisition of the Ontario mill is a significant addition to the company’s portfolio of siding mills. The LP brand has expanded over the past few years, becoming one of the fastest-growing siding brands in the United States alone. With the purchase of the Wawa mill, LP will be able to meet the increasing demand for its products and expand its presence in Canada.