Top Wood Producer Norbord (TSX: OSB) Releases 2020 ESG Report

2 min read | December 17, 2020 07:41 AM EST | By Team Kalkine Media

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Norbord, world’s largest producer of oriented strand board (OSB), has released Environmental, Social and Governance (ESG) report for the year 2020, highlighting its performance in 2019, the first and second quarters of 2020.
Company CEO Peter Wijnbergen claimed wood is a renewable resource and a part of sustainable economy that provides shelter, “but sequestering carbon”. Nearly 6 million tonnes of carbon, or annual emissions of 900,000 vehicles, end up in long-term storage in Norbord’s products every year, said the CEO.
To minimize carbon emission, the company aims to be more resource efficient and build “world-class facilities” through sustainable wood panel products.
It also highlighted creating an environment that empowers “people and culture”.
Norbord employs nearly 2400 staff at 17 facilities across Canada, the United States and Europe. It also produces wood-based panels, particleboard and fibreboard.
On November 19, West Fraser Timber Co. Ltd. (TSX:WFT) announced that it has acquired all outstanding common shares of Norbord in an all-stock deals of approximately C$ 4 billion.
As per the definitive agreement, Norbord shareholders will get 0.675 of West Fraser share for each Norbord share, which is C$ 49.35 – a 13.6 per cent premium to closing OSB stock price on November 18. The deal is expected to close in first half of 2021.
Norbord stocks (TSX:OSB) are currently trading at C$ 56.53.

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