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Louisiana-Pacific to buy International Barrier Technology for $22 million

VANCOUVER, BC and WATKINS, MN -- Louisiana-Pacific Corp. announced it has entered into an arrangement agreement to acquire Watkins, Minn.-based International Barrier Technology Inc. for $22 million.

The agreement is for 100 percent of the shares of Barrier, a British Columbia company publicly traded on the TSX Venture Exchange, making Barrier a wholly owned subsidiary of LP.

The transaction is subject to the approval of the Barrier shareholders and satisfaction of customary conditions, including court approval.

The acquisition is expected to close by the end of this year.

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