Resolute Acquires Louisiana-Pacific's 50% Equity Interest in Resolute-LP Engineered Wood Partnership

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.

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 50% equity interest of Louisiana-Pacific Corporation (NYSE: LPX) in Resolute-LP Engineered Wood Larouche Inc. and Resolute-LP Engineered Wood St-Prime Limited Partnership located in Quebec.

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 100% of its managed woodlands to internationally recognized sustainable forest management standards. The shares of Resolute Forest Products trade under the stock symbol RFP on both the New York Stock Exchange and the Toronto Stock Exchange.

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.

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SOURCE Resolute Forest Products Inc.

FAQ

What was the purpose of Resolute's acquisition of Louisiana-Pacific's equity interest?

The acquisition aimed to strengthen Resolute's position in the engineered wood products market.

How will the acquisition impact Resolute Forest Products' operations?

It expands Resolute's product offerings and enhances distribution through Louisiana-Pacific.

What is the stock symbol for Resolute Forest Products?

Resolute Forest Products trades under the stock symbol RFP on both NYSE and TSX.

When was the acquisition of Louisiana-Pacific's interest completed?

The acquisition was completed on March 4, 2022.

What type of products will Louisiana-Pacific distribute after the acquisition?

Louisiana-Pacific will distribute engineered wood products produced at the two operations in Quebec.