NASHVILLE, Tenn. (News release) -- LP Building Solutions (LP), a leading manufacturer of high-performance building products, is celebrating its 50th anniversary today. After five decades as an innovative force in the building materials industry, LP is marking this milestone with a series of initiatives to recognize the people that have enabled the company to grow and thrive.
"While much has changed in 50 years, we have always maintained our focus on what LP does best: innovation."
LP was first incorporated on July 20, 1972. The following January, the company began trading on the New York Stock Exchange (NYSE). Today LP returns to the NYSE to commemorate its historic anniversary. As a celebration of the people who make and sell LP's products, plant managers and sales associates will join Chair and Chief Executive Officer Brad Southern for the ringing of the closing bell.
"We exist as a company to innovate, manufacture, and deliver building solutions to our customers so they can build safe, durable homes while we build lasting value for our shareholders," said Southern. "The pioneering spirit, ingenuity, and commitment to innovation of LP employees, past and present, has made today's celebration possible."
Known for finding new and unique ways to meet the needs of a changing building industry, LP's pioneering roots date back to 1979, when the company opened the first oriented strand board (OSB) mill in North America. Located in Hayward, Wisconsin, crews had to work 24 hours a day, seven days a week to keep up with demand when production began. LP's chief executive officer told investors at the time, "I've never seen a forest product accepted so quickly by the marketplace."
Through the introduction of OSB, LP became an innovative force in the building materials industry--a legacy that has continued for five decades. In 1997, the company launched LP® SmartSide® Trim & Siding after developing a technologically advanced manufacturing process that treats each strand of wood with a proprietary combination of zinc borate, resins, and waxes to help resist moisture. The result gives SmartSide products the beauty of traditional wood with the durability of engineered wood, making it one of the fastest-growing siding brands in the United States today.
Yet another breakthrough came with the development of value-added OSB products, known today as the LP® Structural Solutions portfolio. This long line of innovative products was popularized in 1998 when LP introduced the industry's first commercially viable radiant barrier sheathing. Today's market leader, LP® TechShield® sheathing blocks up to 97% of radiant heat in roof panels and can lower attic temperatures as much as 30°F. In addition to LP TechShield, today's LP Structural Solutions portfolio also includes LP WeatherLogic® Air & Water Barrier, LP Legacy® Premium Sub-Flooring, LP® FlameBlock® Fire-Rated Sheathing, and LP NovaCore™ Thermal Insulated Sheathing.
LP has significantly expanded its product line and customer base over the last five decades through its steadfast commitment to industry leadership and providing innovative building solutions for customers.
"From our early days as a commodity forest products company to our reputation today as a leading provider of specialty building solutions, LP has a long history of breaking new ground to meet the changing needs of our customers," Southern said. "While much has changed in 50 years, we have always maintained our focus on what LP does best: innovation. Looking forward to the next 50 years, we will continue executing our strategy to provide customers with the building solutions they need while ensuring a safe and inclusive workplace, responsibly managing our natural resources, and building a brighter future for our employees, customers, and shareholders."
For more information, visit LPCorp.com.