Resolute Acquires Louisiana-Pacific's 50% Equity Interest in Resolute-LP Engineered Wood Partnership
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Rhea-AI Summary
On March 4, 2022, Resolute Forest Products (NYSE: RFP) announced the completion of its acquisition of Louisiana-Pacific Corporation's 50% equity interest in Resolute-LP Engineered Wood Larouche Inc. and Resolute-LP Engineered Wood St-Prime Limited Partnership in Quebec. Following the acquisition, Louisiana-Pacific will serve as the exclusive distributor for the engineered wood products produced at these operations. This strategic move enhances Resolute's product offerings in the forest products sector, leveraging established distribution channels.
Positive
- Acquisition strengthens Resolute's presence in engineered wood products.
- Exclusive distribution agreement with Louisiana-Pacific enhances market reach.
Negative
- None.
Details
News Market Reaction – RFP
The recorded move for RFP in the trading session of this news was -4.67%.
Data tracked by StockTitan Argus. Session date unavailable.
AI-generated analysis. How Rhea-AI works. Not financial advice.
US $
MONTRÉAL, March 4, 2022 /PRNewswire/ - Resolute Forest Products Inc. (NYSE: RFP) (TSX: RFP) today announced that it has completed the previously announced acquisition of the
In connection with the closing, Resolute entered into agreements with Louisiana-Pacific for it to serve as the exclusive distributor of the engineered wood products produced at the two operations.
About Resolute Forest Products
Resolute Forest Products is a global leader in the forest products industry with a diverse range of products, including market pulp, tissue, wood products and papers, which are marketed in over 60 countries. The company owns or operates some 40 facilities, as well as power generation assets, in the United States and Canada. Resolute has third-party certified
Resolute has received regional, North American and global recognition for its leadership in corporate social responsibility and sustainable development, as well as for its business practices. Visit www.resolutefp.com for more information.
View original content:https://www.prnewswire.com/news-releases/resolute-acquires-louisiana-pacifics-50-equity-interest-in-resolute-lp-engineered-wood-partnership-301496105.html
SOURCE Resolute Forest Products Inc.
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