North American operations generated EBITDA of US$106m in Q1, 2013 versus US$14m and US$67m in Q1 and Q4, 2012, respectively.

"Our strong Q1 results reflect a broad-based US housing recovery that is accelerating," said Barrie Shineton, president and ceo.

"Average North American OSB prices climbed to their highest level in nine years during what is normally the weakest season of the year."