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LOUISIANA-PACIFIC TO BUILD CONSTRUCTION PANEL PLANTS IN VENEZUELA

 PORTLAND, Ore., Jan. 21 /PRNewswire/ -- Louisiana-Pacific Corp. (L-P) (NYSE: LPX) announced today that the company plans to build a major construction panel manufacturing complex in Puerto Ordaz, Venezuela. L-P has signed agreements with Corporacion Venezolana de Guayana (CVG) and with CVG's wood resource subsidiary, CVG-PROFORCA, which calls for L-P to build five new plants. Under the agreements the Venezuelan companies will provide resources for two L-P plants manufacturing oriented stand board (OSB) construction panels; one producing veneer; a fourth making medium density fiberboard; and a fifth plant manufacturing resin for the new complex.
 "We expect our operations in Venezuela to be a perfect complement to the visionary tree farm nurtured by CVG and to the existing sawmill industry in the area," said Harry A. Merlo, Louisiana-Pacific's chairman and president.
 Beginning in 1970, CVG began planting trees on a million acres of unproductive grassland which had at one time been used for cattle grazing. Many of those trees are now ready for harvesting under the relatively short 15-25 year cycle ideal for L-P's OSB products. Tree planting continues every year on this plantation, making it truly a "tree farm."
 "Ultimately we will purchase 1.6 million tons a year of Caribbean pine to operate these new plants -- an amount easily sustainable under CVG's excellent resource management," Merlo said. "We expect a total of about 1,000 workers to be employed at the complex and in support jobs."
 Louisiana-Pacific will operate in Venezuela through Louisiana- Pacific de Venezuela, C.A., a wholly owned subsidiary of Louisiana- Pacific Corp. Louisiana-Pacific is a major building products company known for its innovation in developing high-performance, affordable, environmentally sound construction materials. Corporacion Venezolana de Guayana is Venezuela's state-owned industrial development corporation.
 -0- 1/21/93
 /CONTACT: Barry Lacter of Louisiana-Pacific, 503-221-0800/
 (LPX)


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

LM-GT -- SE001 -- 7207 01/21/93 07:48 EST
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Publication:PR Newswire
Date:Jan 21, 1993
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