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01 Aug 2007  -  United States

LP signs letter of intent to sell Meridian, Idaho, composite decking facility to Fiber Composites

Louisiana-Pacific Corporation (LP) announced it has signed a letter of intent to sell its Meridian, Idaho, composite decking plant to Fiber Composites, LLC. The sale, which is expected to close at the end of third quarter 2007, also includes the use of the BeatherBest brand name.

Rick Olsziewski, LP executive vice president of sales and specialty products, said, “We are pleased to have an initial agreement with Fiber Composites, a company who understands both the decking market and composite manufacturing, and who will meet the needs of WeatherBest customers very well.”

Fiber Composites President Doug Mancosh remarked, “The acquisition of the WeatherBest brand and LP’s Meridian, Idaho, plant is consistent with our company strategy of producing and selling the highest quality composite decking and railing products in the industry. Fiber Composites looks forward to continuing the WeatherBest brand and fully supporting its distribution partners and customers.”

Terms of the intended Meridian sale were not disclosed. LP continues to actively market its remaining composite decking facility in Selma, Alabama, which has been curtailed since April of this year. 

About LP
LP is a premier supplier of building materials, delivering innovative, high-quality commodity and specialty products to its retail, wholesale, homebuilding and industrial customers.

About Fiber Composites
Fiber Composites, LLC, is a leading manufacturer of composite decking, railing and fencing used in homes and light commercial construction across North America. Fiber Composites employs state-of-the-art polymer technology to constantly innovate its products, coupled with world-class manufacturing processes to ensure best-in-class quality. Fiber Composites was founded in 1997 and is a privately owned company based in New London, N.C., with 300 employees.

Source : Louisiana-Pacific Corporation