LP Building Solutions reaches a major milestone
Today LP Building Solutions is celebrating its 50th anniversary.
After five decades as an innovative force in the building materials industry, LP is marking this milestone with a series of initiatives to recognize the people that have enabled the company to grow and thrive.
LP was first incorporated on July 20, 1972. The following January, the company began trading on the New York Stock Exchange (NYSE).
LP returned to the NYSE to commemorate its historic anniversary.
As a celebration of the people who make and sell LP’s products, plant managers and sales associates are joining LP Chair and CEO Brad Southern for the ringing of the closing bell.
“We exist as a company to innovate, manufacture, and deliver building solutions to our customers so they can build safe, durable homes while we build lasting value for our shareholders,” said Southern. “The pioneering spirit, ingenuity, and commitment to innovation of LP employees, past and present, has made today’s celebration possible.”
The Nashville, Tenn.-based company’s roots date back to 1979, when the company opened the first oriented strand board (OSB) mill in North America.
Then located in Hayward, Wis., crews had to work 24 hours a day, 7 days a week to keep up with demand when production began.
LP’s CEO told investors at the time, “I’ve never seen a forest product accepted so quickly by the marketplace.”
Through the introduction of OSB, LP became an innovative force in the building materials industry—a legacy that has continued for five decades.
In 1997, the company launched LP SmartSide Trim & Siding after developing a technologically advanced manufacturing process that treats each strand of wood with a proprietary combination of zinc borate, resins, and waxes to help resist moisture. The result gives SmartSide products the beauty of traditional wood with the durability of engineered wood, making it one of the fastest-growing siding brands in the United States today.
Another breakthrough came with the development of value-added OSB products, known today as the LP Structural Solutions portfolio.
This long line of innovative products was popularized in 1998 when LP introduced the industry’s first commercially viable radiant barrier sheathing. Today’s market leader, LP TechShield sheathing blocks up to 97% of radiant heat in roof panels and can lower attic temperatures as much as 30°F.
In addition to LP TechShield, today’s LP Structural Solutions portfolio also includes LP WeatherLogic Air & Water Barrier, LP Legacy Premium Sub-Flooring, LP FlameBlock Fire-Rated Sheathing, and LP NovaCore Thermal Insulated Sheathing.
“From our early days as a commodity forest products company to our reputation today as a leading provider of specialty building solutions, LP has a long history of breaking new ground to meet the changing needs of our customers,” Southern said. “While much has changed in 50 years, we have always maintained our focus on what LP does best: innovation."
"Looking forward to the next 50 years, we will continue executing our strategy to provide customers with the building solutions they need while ensuring a safe and inclusive workplace, responsibly managing our natural resources, and building a brighter future for our employees, customers, and shareholders," Southern added.
