LP NEWS RELEASE
111 S.W. Fifth Avenue
Portland, OR 97204
503.821.5100 fax: 503.821.5107
Release
No.: 131-12-0
Contact:
Kelly Stoner (LP Media Relations)
503.821.5281
Bill Hebert (Investor Relations)
503.821.5100
LP Issues Fourth Quarter 2000 Results Update, Schedules January 29 Quarterly Conference Call
PORTLAND, Ore.— Louisiana-Pacific Corporation (NYSE:
LPX) announced today that it expects fourth quarter 2000 operating results to
be substantially below current First Call estimates.
Operating results have been negatively affected by
weaker demand and pricing as well as related plant closures and production
curtailments. Weaker demand and pricing
significantly affected LP’s structural products segment that includes oriented
strand board, lumber and engineered wood products. Sharply higher energy costs (principally electricity and natural
gas) also had a negative impact on operating results.
As previously announced, the company will also
record an unusual charge of $25 million to $30 million related to plant
closures announced during the quarter.
LP’s fourth quarter and
year-end 2000 results conference call has been scheduled for Monday, January
29, 2001 at 11 a.m. EST (8 a.m. PST). The
company will release its fourth quarter and year-end 2000 results earlier that
morning.
To listen to the call, the
general number to dial is (800) 230-1085. To access the live webcast, visit www.lpcorp.com
and go to the “Press Room.”
LP is a premier supplier of building materials,
delivering innovative, high-quality commodity and specialty products to its
rapidly growing retail, wholesale, homebuilding and industrial customers.
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FORWARD LOOKING STATEMENTS
This news release contains statements concerning
Louisiana-Pacific Corporation’s (LP) future results and performance that are
forward-looking statements within the meaning of the Private Securities
Litigation Reform Act of 1995. The accuracy of such statements is subject to a
number of risks, uncertainties and assumptions that may cause actual results to
differ materially from those projected, including, but not limited to, the
effect of general economic conditions, including the level of interest rates
and housing starts, market demand for the company’s products, and prices for
structural products; the effect of forestry, land use, environmental and other
governmental regulations; the ability to obtain regulatory approvals, and the
risk of losses from fires, floods and other natural disasters. These and other
factors that could cause or contribute to actual results differing materially
from such forward-looking statements are discussed in greater detail in the
company’s Securities and Exchange Commission filings.