TORONTO, Jan. 24 /CNW/ - Norbord Inc. (TSX:NBD) announced today it will
suspend operations for four weeks to conduct planned maintenance on its OSB
press line at Joanna, South Carolina. This maintenance work is scheduled to
begin on February 4, 2008.
Previously, Norbord announced that a six to eight week curtailment will
be taken at its Guntown, Mississippi OSB mill during Q1 2008 to rebuild its
press. This project is expected to begin in March 2008.
"We are taking a low cost approach to managing our routine and essential
maintenance by extending project timeframes to allow for most of the work to
be done by our own employees," said Barrie Shineton, Norbord's President and
CEO. "We believe this is the best time to do the work that will optimize our
assets so they are running at peak performance when markets eventually
Norbord also confirmed that there would be minimal disruption to
customers during the maintenance projects. "We will leverage our mills in the
region to ensure customers continue to receive a high level of service," said
Annual production capacity is 500 MMsf - 3/8" at Joanna and 430 MMsf -
3/8" at Guntown.
Norbord Inc. is an international producer of wood-based panels and is a
publicly traded company listed on the TSX under the symbol NBD.
This news release contains forward-looking statements, as defined in
applicable legislation. The words "will," "expected to," "would be,"
"believe," and other expressions which are predictions of or indicate future
events, trends or prospects and which do not relate to historical matters
identify forward-looking statements. Forward-looking statements involve known
and unknown risks, uncertainties and other factors which may cause the actual
results, performance or achievements of Norbord to be materially different
from any future results, performance or achievements expressed or implied by
the forward-looking statements.
Although Norbord believes it has a reasonable basis for making these
forward-looking statements, readers are cautioned not to place undue reliance
on such forward-looking information. By its nature, forward-looking
information involves numerous assumptions, inherent risks and uncertainties,
both general and specific, which contribute to the possibility that the
predictions, forecasts and other forward-looking statements will not occur.
Factors that could cause actual results to differ materially from those
contemplated or implied by forward-looking statements include: general
economic conditions; risks inherent with product concentration; effects of
competition and product pricing pressures; risks inherent with customer
dependence; effects of variations in the price and availability of
manufacturing inputs; risks inherent with a capital intensive industry; and
other risks and factors described from time to time in filings with Canadian
securities regulatory authorities and the US Securities and Exchange
Norbord does not undertake to update any forward-looking statements,
whether as a result of new information, future events or otherwise, or to
publicly update or revise the above list of factors affecting this
information. See the "Caution Regarding Forward-Looking Information" statement
in the March 1, 2007 Annual Information Form and the cautionary statement
contained in the "Forward-Looking Statements" section of the 2006 Management's
Discussion and Analysis dated January 31, 2007.
For further information:
For further information: Anita Veel, Director, Corporate Affairs, (416)