International Barrier Technology Sold for $22 Million

Louisiana-Pacific to acquire Int’l Barrier Tech for $22M

Louisiana-Pacific to acquire Int'l Barrier Tech for $22M. See Stockwinners.com Market Radar to read more

 

Louisiana-Pacific Corporation (LPX) announced it has entered into an arrangement agreement to acquire Watkins, Minn.-based International Barrier Technology Inc. (IBTGF) for $22M.

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

International Barrier Technology Inc. develops, manufactures, and markets proprietary fire resistant building materials designed to protect people and property from the destruction of fire in the United States. The company uses non-toxic Pyrotite formulation that is used to coat wood panels and has application to engineered wood products, paint, plastics, and expanded polystyrene.

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

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