TORONTO, Nov. 16 /CNW/ - Norbord Inc. (TSX:NBD) announced today it will
suspend operations at OSB mills in Val d'Or, Quebec and La Sarre, Quebec due
to poor market conditions.
The curtailment at Val d'Or is scheduled to begin on November 25, 2007
and will last for at least six weeks. Approximately 130 people will be
temporarily laid off as a result of this action.
Production at Norbord's La Sarre OSB mill will also be suspended for at
least three weeks. The curtailment at La Sarre is scheduled to begin on
December 16 and will impact approximately 130 people.
"Declining US housing starts, the escalating Canadian dollar and the
addition of new production capacity across the industry made this difficult
decision necessary," said Jean Roy, Norbord's Vice-President of Northern
Operations. "Our teams at Val d'Or and La Sarre have done an exceptional job
of responding to market conditions through process efficiencies, cost
reductions and product mix improvements. Unfortunately, current conditions
make it financially unacceptable for us to continue production at this time."
Annual production capacity is 340 MMsf - 3/8" at Val d'Or and 375 MMsf -
3/8" at La Sarre.
Norbord Inc. is an international producer of wood-based panels and is a
publicly traded company listed on the TSX under the symbol NBD.
For further information:
For further information: Jean Roy, Vice-President, Northern Operations,
(819) 333-5464; Anita Veel, Director, Corporate Affairs, (416) 643-8838