LP to Acquire International Barrier Technology Inc.
The agreement is for 100 percent of the shares of Barrier, a
The transaction is subject to the approval of the Barrier shareholders and satisfaction of customary conditions, including court approval.
“We are confident that this acquisition will help accelerate our growth
into new markets,” LP CEO
Barrier manufactures the fire retardant coating used in LP® FlameBlock® fire rated products.
Southern said the trend for more fire resistance in residential and commercial buildings continues to escalate, driven by changing building codes and their enforcement.
“Over the last seven years we have validated the market acceptance of the FlameBlock brand and demonstrated strong sales growth,” Southern noted. “Flame retardant products are a key development target of our Growth and Innovation plans.”
Barrier CEO
LP will continue to honor Barrier’s existing contracts and service its customers’ needs. Barrier will operate as part of LP’s OSB business.
The acquisition is expected to close by the end of this year.
About LP
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Source:
Louisiana-Pacific Corporation
Media Relations
Mark Morrison,
615-986-5886
or
Investor Relations
Becky Barckley,
615-986-5600
or
Mike Kinney, 615-986-5600