03:31:31 EDT Fri 29 Mar 2024
Enter Symbol
or Name
USA
CA



Brookfield Asset Management Inc
Symbol BAM
Shares Issued 628,675,279
Close 2014-12-08 C$ 56.08
Market Cap C$ 35,256,109,646
Recent Sedar Documents

FP says Norbord-Ainsworth combo a bet on U.S. recovery

2014-12-09 08:03 ET - In the News

See In the News (C-NBD) Norbord Inc (2)

The Financial Post reports in its Tuesday, Dec. 9, edition that Norbord and Ainsworth Lumber are combining operations to build their market share for oriented strand board (OSB). The Post's Gordon Isfeld writes that the move will place the combined company among the world's largest producers of the compressed wood panels used in home and industrial construction. Mr. Isfeld says the primary incentive for the $763-million, all-stock takeover announced Monday is the renewed wave of construction south of the border. Norbord chief executive officer Peter Wijnbergen says: "This transaction puts us in an even better position to benefit from the broad-based U.S. housing market recovery that we see happening over the next several years. ... U.S. housing construction is the single biggest engine of OSB in North America, and we're perfectly situated to benefit from improving conditions [there]. ... We are optimistic, and our customers remain optimistic, about the unfolding recovery." Norbord and Ainsworth are majority owned by Brookfield Asset Management. It will control about 53 per cent of the combined company. Expectations are for the deal to close in the first quarter of 2015.

© 2024 Canjex Publishing Ltd. All rights reserved.