Nashville-based Louisiana Pacific is holding onto hope that things are turning around. The building products manufacturer has been hemorrhaging as home construction has stalled in recent years.
LP only lost $11 million
n in the first part of this year instead of the $50 or $60 million it’s lost in recent quarters. The company has idled many of its saw mills, just waiting for the housing market to revive. Company officials tell investors that they continue to see signs of life. The profitability of LP’s engineered wood siding business is up 30 percent compared to last year.
LP has also named a new CEO. This is Curt Stevens’ first week on the job.
“The LP organization that I inherit is in very good shape.”
Stevens – who has been with the company for 15 years – says he sees no need for major restructuring. He does plan to spend the next few months looking for ways to best position for a rebound that remains on the horizon.
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