LP is now the sole owner of the Peace Valley OSB mill. The proceeds of the sale are US$77m including working capital.

In addition, Canfor will receive further consideration over a three-year period based on Peace Valley OSB trailing 12 month EBITDA.

"The Peace Valley OSB operation has been an excellent operation in partnership with LP" said Don Kayne president/ceo of Canfor.

"We wish LP every success and look forward to maintaining our relationship as we continue to manage the Peace Valley OSB mill’s fibre resources".