Norbord Inc will purchase Ainsworth Lumber Co Ltd in a deal valued at C$762.6 million ($667 million) to become the world's biggest producer of oriented strand boards, the most popular roofing material in the United States.The deal will help Norbord take advantage of any recovery in the U.S. housing market and cater to rising demand from Europe and Asia.Oriented strand board (OSB), cheaper than plywood, is made up of strands of wood bonded with wax. It is also used for flooring and wall sheathing.Norbord and Ainsworth have a combined OSB capacity of about 7.7 billion square feet, enough to cover the city of Toronto.
Ainsworth Lumber Co. Ltd. (Ainsworth) is a Canada-based manufacturer and supplier of oriented strand board (OSB) with a focus on value-added specialty products for markets in North America and Asia. Shares of ANS traded higher by 8.39% or $0.25/share to $3.23. In the past year, the shares have traded as low as $2.24 and as high as $4.22. On average, 241135 shares of ANS.TO exchange hands on a given day and today's volume is recorded at 1230686.
Norbord Inc. is an international producer of wood-based panels with 13 plant locations in the United States, Europe and Canada. Shares of NBD traded higher by 3.3% or $0.79/share to $24.75. In the past year, the shares have traded as low as $20.14 and as high as $34.24. On average, 178379 shares of NBD.TO exchange hands on a given day and today's volume is recorded at 234918.
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