Resolute expands in Quebec

Resolute Forest Products Inc. said this week it has reached a deal to buy out Louisiana-Pacific Corp.’s 50 percent stake in two joint ventures producing I-joists in Quebec. Upon regulatory approval, the transaction, valued at $50 million, will make Resolute the full owner of Resolute-LP Engineered Wood Larouche Inc. and Resolute-LP Engineered Wood St-Prime Limited Partnership.

At the same time, the company announced an agreement with Boralex for the acquisition of a cogeneration facility in Senneterre, Que. Both purchases are to be made in cash.