Locally based health care technology company Lincor Solutions is partnering with Hospitality Network Canada Inc. to better distribute its products north of the border. The deal gives Lincor access to a possible client base of more than 300 facilities.
Executives at Louisiana-Pacific say they will not push to regain their wood license from the government of Quebec and thus have no plans to restart their oriented strand board mill in Chambord, north of Quebec City. Nashville-based LP ramped down the plant in 2008, and execs say the construction materials market still hasn't regained enough strength for them to consider restarting work there.
SEE ALSO: Want to practice your French? Here's another LP release reacting to the Quebec government's move to revoke the company's wood license.
The leaders of Louisiana-Pacific and Ainsworth Lumber have agreed to extend to June 2 today's deadline to obtain regulatory approval of their planned $1.1 billion combination. The companies say their extension is the result of "continued discussions" with the Canadian Competition Bureau and the Antitrust Division of the U.S. Department of Justice. Either company can add another 45 days to the deal's timeline if needed.
Shares of LP (Ticker: LPX) are down about 1 percent this afternoon to $15.25. Investors appear to be expecting not-so-good news about the Ainsworth acquisition and have pushed the stock down nearly 20 percent since the beginning of March.
Louisiana-Pacific has recruited a 26-year veteran of the forest products sector to be its regional operations manager in Canada, where the company will grow its presence from five to nine plants when it wraps up its $1.1 billion purchase of Ainsworth Lumber. Mac Palmiere had until this summer run Howe Sound Pulp and Paper in British Columbia and will continue to be based in Vancouver.
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