LÉVIS, Que. ― Maibec has reached an agreement to purchase LP Building Solutions’ East River, N.S., factory along with assets and brand rights for CanExel, the fibre-based siding product manufactured there. The transaction is expected to close in the second quarter.
“CanExel is a leading brand in its market, just as Maibec is one of the most recognized brands of genuine wood siding and Eastern White Cedar Shingles,” Maibec CEO Patrick Labonté said. “Adding CanExel to Maibec’s portfolio provides a broader product offering to our growing markets. CanExel will be instrumental to our expansion throughout North America.”
