Thursday, November 24, 2005
L-P Vinyl selling to Canadian company
By SUE WATSON
Louisiana-Pacific Corporation reported in November it has signed a letter of intent to sell its vinyl siding business to KP Building Products Inc., an affiliate of Kaycan Ltd., a Canadian based company with manufacturing and distribution centers also in the United States.
The prospective buyout includes L-P’s vinyl siding mill in Holly Springs and Acton, Ontario and a warehouse in Milton, Ontario.
A Kaycan news announcement said the company expects to close the sale in mid-December.
Sole owner of Kaycan, Lionel Dubrofsky, in an interview for a November article published in Plastics News, said the 200 workers at the L-P plants will retain their jobs and he expects to expand the facilities.
Kaycan is a leading manufacturer of building products in North America, Europe, Asia and Australia. The 31-year-old company operates over one million square feet of manufacturing facilities including vinyl siding and extrusion plants in Cowansville, Quebec, Carstairs, Alberta, and Burlingon, Vermont, and seven aluminum products facilities.
The acquisition of L-P’s facilities is expected to double Kaycan’s capacity and place the company in sixth or seventh position as provider of vinyl siding in North America, according to Matt Griswold’s article in Plastics News.
Kaycan is a manufacturer of quality home building products including aluminum and vinyl sidings, soffit, accessories, gable vents and aluminum rainware. Products are distributed internationally.
Marshall County Industrial Development Authority director Bill Renick said he is excited at the prospects of keeping the Holly Springs L-P facility open.
“This is a major retention of 188 jobs because if this plant had not sold, it was probably going to close,” Renick said. “We now have the opportunity for expansion according to the Kaycan president. The deal is not closed but they hope to have everything in place by mid-December.”
Kaycan owns 62 distribution centers in North America and has 1,100 employees. The manufacturer started extruding vinyl in the 1980s and operates five non-vinyl manufacturing plants.
Kaycan operates 27 distribution centers in the United States and 28 in Canada. The closest distribution centers to Holly Springs are Little Rock, Ark. and Nashville, Tenn.
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