For the full-year 2017, Norbord recorded Adjusted EBITDA of US$672m compared to US$385m in 2016 on higher North American OSB prices and shipment volumes.

North American operations generated Adjusted EBITDA of US$638m compared to US$352m in the prior year and European operations delivered Adjusted EBITDA of US$41m, in line with the prior year.

“2017 was an outstanding year for Norbord and we delivered record Adjusted EBITDA of US$672m,” said Peter Wijnbergen, Norbord’s president and CEO.

“US housing starts continued to improve, led by stronger growth in the single-family segment, driving increased North American OSB demand and prices. Our European business had another solid year due to record sales volume and improved prices for all our panel products across our key markets.

“Norbord’s mills in both North America and Europe continued to deliver strong operational results, with nine of our 15 operating mills setting annual production records in 2017,” said Mr Wijnbergen.