NASHVILLE, Tenn. -- LP Building Solutions (LP), a manufacturer of high-performance building products, and Forex Inc. have entered into a definitive agreement under which LP will acquire the assets owned by Wawa OSB Inc., a subsidiary of Forex Inc. 

The transaction will add to LP's assets a manufacturing facility in Wawa, Ontario, Canada, that will be converted into an LP SmartSide Trim & Siding mill. The transaction, which is subject to court approval and customary closing conditions, is expected to be completed in early May 2023.

"LP SmartSide Trim & Siding has experienced tremendous growth over the past few years, becoming one of the fastest-growing siding brands in the United States," said Executive Vice President and General Manager of Siding Jason Ringblom. "In response to customer demand, we continue to expand our capacity across North America to position SmartSide for long-term growth. Our acquisition of Forex Inc.'s Wawa facility is a great addition to our fleet of siding mills and perfect example of how we are investing in the future of SmartSide."

Once converted, the mill will add approximately 400 million square feet of capacity, making it LP's largest single-line siding mill. This will bring LP's total siding capacity to 2.7 billion square feet annually.

Built in the mid-1990s as an OSB mill, the site is an ideal location for SmartSide production due to its access to an ample and sustainable aspen wood basket and efficient logistics options. The mill's conversion will bring more than 150 sustainable jobs to the region, which has a long, rich history in forest product manufacturing.

LP is evaluating project schedules to determine when construction at the facility will begin. While a second SmartSide manufacturing line is still planned for LP's Houlton, Maine, facility, this project will break ground after the conversion of the Wawa mill.