LP finalizes Barrier acquisition
Louisiana-Pacific Corporation has finalized its acquisition of International Barrier Technology, a Watkins, Minn.-based company that manufactures the fire-retardant coating used in LP FlameBlock fire rated engineered wood products.
The $22 million deal involves cash for shares, according to LP. The acquisition was approved by Barrier shareholders on Sept. 28 and results in Barrier becoming a wholly-owned subsidiary of LP.
LP announced it would acquire Barrier this past July. According to LP, the purchase provides long-term protection on the company’s continuing investment in FlameBlock market development and product sales.
The trend for more fire resistance products in residential and commercial buildings continues to escalate, driven by changing building codes and their enforcement, LP said.
LP will continue to honor Barrier’s existing contracts and service its customers’ needs. Barrier will operate as part of LP’s OSB business.
Based in Nashville, Tenn., LP is one is one of the nation’s largest manufacturers of engineered wood building materials including OSB, structural framing products, and exterior siding for use in residential, industrial, and light commercial construction.
