NASHVILLE, Tenn.--(BUSINESS WIRE)--Louisiana-Pacific Corporation (LP) (NYSE: LPX) today announced it has invested $45 million in EntekraTM, a design, engineering and manufacturing company that provides off-site framing for both residential and commercial construction.
Unique to the U.S. market, Entekra provides a fully integrated off-site solution (FIOSS™), which integrates concept, design and engineering with off-site manufacturing and on-site assembly to deliver higher quality structures. Entekra’s system is designed to streamline the process of assembling new builds – reducing construction time, waste and dependency on skilled labor, resulting in faster build cycles and increased production volume for builders.
“This investment marks a logical extension of our strategy to position LP as a leading building solutions company,” LP CEO Brad Southern said. “The overriding constraint of supply in the housing industry today is a shortage of labor, and combined with rising construction costs, underscores the need for more efficient and innovative building techniques. Entekra’s off-site framing solutions are designed to help builders meet market demand, while increasing productivity, reducing waste and improving quality of the home construction process. We are excited by the prospects in the burgeoning off-site market and the long-term opportunities this investment presents for LP.”
Southern said the partnership will combine Entekra’s proven engineering and automated framing expertise with LP’s market access to regional and national builders. It will also allow LP to leverage its large scale manufacturing capabilities and capital deployment necessary to scale the business.
Entekra is based in Ripon, Calif., where it operates a single manufacturing plant. LP and Entekra finalized its business agreement last week.
As a proven leader in high performance building solutions, LP Building Products manufactures uniquely engineered, innovative building products that meet the demands and needs of the building industry. Its extensive product portfolio includes durable and dependable exterior siding and trim systems, engineered wood framing and structural panels for single-family homes, multifamily projects, repair & remodel markets, light commercial facilities and outdoor buildings. LP also provides industry leading service and warranties to help customers build smarter, better and faster. Founded in 1973, LP is a global company headquartered in Nashville, Tennessee, and traded on the New York Stock exchange under LPX. For more information, visit LPCorp.com.