Norbord Inc

Description

Norbord Inc, a global manufacturer of wood-based panels, operates through 17 plants across Europe, the United States and Canada.

The company manufactures medium density fibreboard and oriented strand board.

It manufactures oriented strand board (OSB) in North America and Europe and particleboard and furniture in Scotland and England.

Norbord Inc operates through OSB mills, one medium density fibreboard (MDF) production facility, two particleboard production facilities and one furniture plant.

The company manufactures roof boards, wall panels, MDF Caberwood, Caberboard, sterling board, sub-flooring, and decorative wooden panels.

NFI Forest Holdings Ltd and Noranda Forest Inc merged to form Norbord Inc on December 31, 1998.

In 2004, the company rebranded from Nexfor Inc to its present name.

In 2016, Norbord changed the ticker symbol to ‘OSB’ on the Toronto Stock Exchange and was listed on the New York Stock Exchange.

In February, West Fraser Timber Co Ltd announced the completion of Norbord’s acquisition, following which the latter will now operate as a wholly-owned subsidiary.

West Fraser is a diversified wood products company and owns facilities in the southern United States and western Canada. It acquired all issued and outstanding common shares of the Canadian company.

In addition, Norbord’s stocks were delisted from NYSE and TSX.

Norbord claims to hire skilled workers and experts to carry its operations and provides development training to its staff, including providing compensation and benefits.

In partnership with Rockwell Automation, it is undertaking the Norbord 4.0 project to digitize its operating environment and improve the manufacturing process using artificial intelligence, machine learning, data and analytics. In addition, 34 robots have been deployed across the mills, the company claims.

It reportedly consumes 77 per cent of energy generated from renewable energy sources.

In 2020, Norbord Inc reportedly recorded a 17 per cent reduction in pollutant emission intensity from 2017 levels.