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Building materials manufacturer Louisiana-Pacific Corp. is buying British Columbia-based Ainsworth Lumber, which makes engineered wood products such as floors and stairs.
Building materials manufacturer Louisiana-Pacific Corp. is buying British Columbia-based Ainsworth Lumber, which makes engineered wood products such as floors and stairs.
(JOHN LEHMANN/JOHN LEHMANN/THE GLOBE AND MAIL)

$1.1-billion Ainsworth deal shows heat in forestry sector

Several big forestry deals have come out of the woodwork this year, and the trend shows no sign of slowing as Ainsworth Lumber Co. Ltd. is sold for $1.1-billion (U.S.), including debt, in a deal announced Wednesday afternoon.

Building materials manufacturer Louisiana-Pacific Corp. is buying British Columbia-based Ainsworth, which makes engineered wood products such as floors and stairs, and has 700 employees in four manufacturing facilities across Canada. Ainsworth is 54-per-cent owned by Brookfield Asset Management Inc., which has been particularly active in Canadian forestry deals in 2013.