“2011 was another tough year for Louisiana-Pacific”, the company admitted after filing an annual net loss of US$171m (2010: US$39m).

The US wood products giant was hit by a 9% dip in single family housing starts and a dip in OSB prices.

Its OSB division saw a 10% reverse in sales to US$542m and an operating loss of US$64m, compared to profits of US$26m in 2010.

Sales in the engineered wood products division, which comprises I-joists, LVL and laminated strand lumber (LSL), grew by 6% to US$203m and its operating loss lessened slightly to US$16m (2010: US$21m).

The company’s siding operation remained the most profitable business in the group with operating profits of US$42m (2010: US$51m) from sales of US$430m.