Louisiana-Pacific Finalizes Sale of Windows and Doors Division.
"The sale of this business is good for all parties," said Mark A. Suwyn, L -P's chairman and chief executive officer. "AAPC is acquiring productive assets, our former employees are joining a business focused on their products, customers will have a strong, dedicated supplier, and L-P can use these proceeds to further the interests of its shareholders."
The sale of this division is part of a plan announced by L-P last October for the company to sell non-strategic assets. The proceeds are expected to generate between $800 million and $1 billion and focus on growing and improving L-P's core businesses in the building products market selling to professional builders and retailers.
Louisiana-Pacific, now in its 25th year, is a major building products company headquartered in Portland, Oregon with manufacturing facilities throughout the United States and in Canada and Ireland.
FORWARD LOOKING STATEMENTS
Statements in this news release, to the extent they are not based on historical events, constitute forward looking statements within the meaning of federal securities laws. Forward looking statements include, without limitation, statements regarding the expected revenues from asset sales. Investors are cautioned that forward looking statements are subject to an inherent risk that actual results may vary materially from those described herein. Factors that may result in such variance include changes in interest rates, commodity prices, and other economic conditions; actions by competitors; changing weather conditions and other natural phenomena; actions by government authorities; uncertainties associated with legal proceedings; technological developments; future decisions by management in response to changing conditions; and misjudgments in the course of preparing forward looking statements.
CONTACT: Louisiana-Pacific Bill Hebert (Investor Rel.) 503/821-5311 Gerry Soud (Media Rel.) 503/821-5283 http://www.businesswire.com/cnn/lpx.htm
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|Date:||Jun 16, 1998|
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