Norbord And Ainsworth Lumber Provide Update On Merger And Closing
Norbord Inc. and Ainsworth Lumber Co. Ltd. today announced that they have been informed by the Antitrust Division of the United States Department of Justice that it has closed its review of the previously announced combination of Norbord and Ainsworth. Norbord and Ainsworth expect the transaction to be completed on March 31, 2015.
On December 8, 2014, Norbord and Ainsworth announced that they had entered into an arrangement agreement under which Norbord and Ainsworth would merge to create a leading global wood products company focused on oriented strand board (OSB) across North America, Europe and Asia.
Under the terms of the transaction, Norbord will acquire all of the outstanding common shares of Ainsworth in an all-share transaction. Ainsworth shareholders will receive 0.1321 of a share of Norbord for each Ainsworth share.
On January 27, 2015, the transaction was overwhelmingly approved by the shareholders of each of Norbord and Ainsworth. On January 30, 2015, the Supreme Court of British Columbia granted a final order approving the combination of Norbord and Ainsworth by way of a plan of arrangement under the Business Corporations Act (British Columbia).
RELATED ARTICLES
WEST FRASER PURCHASES NORBORD FOR $3 BILLION
Latest News
Raute PRS R5 Proving Itself
Raute introduced its Panel Repair Station (PRS) R5 the plywood industry in 2020. Soon there will be 13 units operating in North America. Measuring 33 ft. by 26 ft., the R5 is no larger than most manual repair cells. It requires no foundations, meaning it can be up and running within two weeks of delivery…
India’s Greenpanel Grows With MDF
India’s largest MDF manufacturer, Greenpanel Industries Ltd., has ordered its third MDF plant from Dieffenbacher. The new thin-board line based on Dieffenbacher’s smart plant concept, CEBRO, will be added in Routhusuramala, Andhra Pradesh. That’s the same site where Greenpanel commissioned a Dieffenbacher MDF line with a 56 m long CPS, the longest continuous press in…
Kronospan Announces Further Expansion At Alabama Site
Kronospan will begin construction of a new OSB manufacturing plant on its 460 acre site in Oxford, Ala. The new facility, employing 125, will have a footprint composed of 44 acres of new development, including substantial areas designated for product storage, rail spur and loading docks. Groundbreaking for the $350 million facility is scheduled for later this year…
Find Us On Social
Newsletter
The monthly Panel World Industry Newsletter reaches over 3,000 who represent primary panel production operations.
Subscribe/Renew
Panel World is delivered six times per year to North American and international professionals, who represent primary panel production operations. Subscriptions are FREE to qualified individuals.
Advertise
Complete the online form so we can direct you to the appropriate Sales Representative. Contact us today!