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LP completes initial 75% purchase phase of Brazilian OSB producer
Published:  13 June, 2008
In mid-May, Louisiana-Pacific Corporation completed the initial phase of its purchase of a 75% stake in Masisa OSB Industria é Comercio SA, which operates OSB assets in Ponta Grossa, Brazil. The purchase is being made through LP Brasil Participacoes Ltda, a limited liability company and a subsidiary of Louisiana-Pacific South America SA, a wholly-owned subsidiary of LP. The OSB mill, which went into production in late 2001, has an annual production capacity of around 375 million ft2. Final close of the deal was anticipated in the third quarter of 2008 following a transition period which will allow the two companies to co-operate in facilitating LP assuming full operating control of the OSB assets. "We are very pleased with this purchase," said Rick Olszewski, executive vice president of sales and LP's speciality products businesses, and president of LP South America. "Our due diligence process confirmed our confidence in the quality of these assets and their potential to serve a growing demand for affordable housing in Brazil and other parts of South America."  

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