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LOUISIANA-PACIFIC SIGNS LETTER OF INTENT TO BUILD OSB PLANT IN IRELAND

 PORTLAND, Ore., April 16 /PRNewswire/ -- Louisiana-Pacific Corp. (L-P) (NYSE: LPX) announced today that the company has signed a letter of intent with Coillte Teoranta, the Irish Forestry Board, that calls for L-P to build an oriented strand board (OSB) plant in Ireland. Under the agreement L-P will build a plant with an annual capacity of 400 million square feet. Coillte Teoranta, which owns nearly a million acres of sustainable plantation timberland in Ireland, will supply 450,000 cubic meters a year of raw material for the plant and become a joint venture partner in the operation. The plant -- which is expected to be completed by the end of 1994 -- will use a total of about 650,000 cubic meters of wood each year, with a portion expected to come from long-term contracts with local sawmills.
 "With the growing market for OSB in Europe, we're excited about the potential for a manufacturing site in Ireland," said Harry A. Merlo, Louisiana-Pacific's chairman and president. "The pine and spruce pulpwood available from Coillte Teoranta lands will be perfect for our Inner-Seal(R) oriented strand board products."
 L-P currently has 17 OSB plants in the United States and Canada, and is about to begin construction of a large manufacturing complex in Venezuela that will include two additional OSB plants. This will be the company's first plant in Europe, although L-P has been exporting building materials into the European market since the company was founded 20 years ago.
 Louisiana-Pacific has become known for its development of innovative building materials such as OSB that don't rely on large- diameter timber. Many of the products L-P has developed over the past two decades have gained market share as tightening timber supplies have reduced production of conventional wood products.
 Louisiana-Pacific is a major building products company known for its innovation in developing high-performance, affordable, environmentally sound construction materials. Coillte Teoranta, the Irish Forestry Board, owns about 85 percent of the timberland in the country.
 -0- 4/16/93
 /CONTACT: Barry Lacter of Louisiana-Pacific, 503-221-0800, or fax, 503-796-0204/
 (LPX)


CO: Louisiana-Pacific Corp.; Coillte Teoranta ST: Oregon IN: PAP SU:

SW -- SE005 -- 0957 04/16/93 14:50 EDT
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Publication:PR Newswire
Date:Apr 16, 1993
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