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ABT BUILDING PRODUCTS CORPORATION PURSUES CANADIAN ACQUISITION

 NEENAH, Wis., Nov. 3 /PRNewswire/ -- ABT Building Products Corporation (NASDAQ-NMS: ABTC) announced today that it has reached agreement with Canadian Pacific Fo ?Products Limited (Toronto: PFP) regarding the principal terms of an acquisition by ABT of substantially all the assets of CP Forest's Canexel Hardboard Division. ABT stated that the transaction is subject to various conditions, including the completion of its due diligence review and negotiation of a purchase agreement. If all conditions are satisfied, the closing would take place before the end of 1993.
 ABT produces specialty building products manufactured from engineered wood and plastics. Premium products include paneling, mouldings, architectural trim, exterior shutters and siding. The major markets served are home improvement, remodeling and new construction. The Canexel Division of CP Forest produces a variety of hardboard siding and paneling products at its East River, Nova Scotia, facility.
 -0- 11/3/93
 /CONTACT: Michael A. Lupo, executive vice president and chief financial officer of ABT Building Products Corporation, 414-751-4982/
 (ABTC PFP.)


CO: ABT Building Products Corporation; Canadian Pacific Forest Products
 Limited; Canexel Hardboard Division ST: Wisconsin, Nova Scotia IN: PAP CST SU: TNM


JG -- DE027 -- 3148 11/03/93 14:55 EST
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Publication:PR Newswire
Date:Nov 3, 1993
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