Wawa OSB Inc., a subsidiary of Forex Inc., and LP Building Solutions have entered into a definitive agreement under which LP will acquire the assets owned by Wawa OSB Inc.
A manufacturing site in Wawa, Ontario, will be turned into an LP SmartSide Trim & Siding mill as part of the purchase. The transaction is projected to close in early May 2023, subject to court approval and typical closing conditions.
“LP SmartSide Trim & Siding has seen tremendous growth in recent years, becoming one of the fastest-growing siding brands in the United States,” said Jason Ringblom, Executive Vice President and General Manager of Siding. “In response to customer demand, we are expanding our capacity across North America in order to position SmartSide for long-term growth.” Our acquisition of Forex Inc.’s Wawa facility is an excellent addition to our siding mill fleet and a good illustration of how we are investing in SmartSide’s future.”
The mill will add roughly 400 million square feet of capacity if converted, making it LP’s largest single-line siding mill. This increases LP’s overall siding capacity to 2.7 billion square feet per year.
The plant, which was built in the mid-1990s as an OSB mill, is a suitable location for SmartSide production because to its abundant and sustainable aspen wood basket and effective logistics possibilities. The redevelopment of the mill will create more than 150 long-term jobs in the region, which has a long history of manufacturing forest products.
“We are overjoyed to see the continued revival of this wood-based plant,” FX Executive Vice President Yolaine Rousseau stated. “We would like to thank all of the employees, First Nations, suppliers, and local governments for their assistance with this project.”
LP is assessing project timelines to determine when the facility’s construction will commence. While a second SmartSide manufacturing line is still planned for LP’s Houlton, Maine factory, construction will begin after the Wawa mill is converted.
