NASHVILLE, Tenn.--(BUSINESS WIRE)--Louisiana-Pacific Corporation (LP) (NYSE: LPX) announced today that it has acquired Prefinished Staining Product Incorporated (PSPI), a prefinished siding company located in Green Bay, Wisconsin.
PSPI has been offering prefinished LP® SmartSide® Trim and Siding for a number of years.
“This acquisition will help us continue to grow our Siding business and increase market penetration in the segments we serve,” said Neil Sherman, LP Executive Vice President for Siding. “This is an important part of our strategy as we transform into a leading building solutions provider.”
“In addition, LP will continue to utilize our existing prefinished providers and partner to help grow their business as well as the LP SmartSide brand,” Sherman added.
The prefinished Siding market is expected to grow significantly over the next five years. Acquiring PSPI provides LP with the facilities, capability, and expertise to enter this market and drive growth in our Siding business.
“LP Building Solutions is focused on developing building solutions for a market that continues to face the challenge of labor shortages,” Sherman said.
PSPI will operate as part of LP’s Siding business.
PSPI was founded in 1999. It operates in a 40,000 square foot facility located about 10 miles northwest of Green Bay.
About LP Building Solutions
Louisiana-Pacific Corporation is a leading building solutions company that invents, manufactures and delivers uniquely engineered, innovative building products that are backed by unparalleled service, strong customer support and industry leading warranties. With operations in the U.S., Canada, Chile and Brazil, LP helps builders, contractors, architects, engineers and homeowners build smarter, better, faster and more efficiently. Founded in 1973, LP is headquartered in Nashville, Tennessee and traded on the New York Stock Exchange under LPX. For more information, visit www.lpcorp.com.