[1] Currently based in Nashville, Tennessee, LP is the world's largest producer of OSB and manufactures engineered wood building products.

[2] LP products are sold to builders and homeowners through building materials distributors and dealers and retail home centers.

[5] LP acquired several lumber companies in California, Oregon, Montana, Washington, Missouri, and Alabama, and, in 1976, it purchased the Fibreboard Corporation, a manufacturer of products used in making furniture and cabinets.

[4] Instead of relying on old-growth timber, LP found ways to make structural building products from small-diameter, fast-growing trees.

[4] First introduced under the trade name Waferwood,[6] this new product offered a less expensive, stronger alternative to plywood sheathing and sub-flooring.

Buoyed by this success, the company soon expanded its line of products made from reconstituted wood to include I-beams for floor joists and rafters.

Driven by these breakthroughs, a housing boom, and a thriving remodeling and repair business that increased demand for its specialty building products, LP's sales grew 50 percent between 1980 and 1988, according to the Portland Oregonian.

Source:[4] During 1990 sales and profits in the company's softwood lumber, plywood, and building products areas slumped due to weakening demand.

This situation was attributed to an economic downturn, increasing concerns over the U.S. federal budget deficit, and fears about the unsettled global geopolitical environment.

The construction industry suffered because of bankers' reluctance to finance new projects and consumers' decisions to delay home purchases.

After a four-year period of rapidly rising prices, pulp manufacturers then faced eroding profit margins due to worldwide economic problems and larger than normal inventories.

The company had initiated the class action lawsuit to speed up the process and, according to the judge presiding over the case, "got the most money to the most people in the quickest amount of time based on my experience.

LP re-engineered the product, now marketed as LPSmartSide and since 1997 has sold approximately 3 billion square feet of SmartSide siding with no warranty claims for fungal decay.

The same year, LP's eight-person board 'lost confidence in the ability of Merlo and his top two lieutenants to steer the Fortune 500 company,' declared the August 4, 1995, edition of the Portland Oregonian.

As OSB increasingly replaced plywood as a basic construction material, Inner-Seal became less a specialty item exclusively made by LP and more of a building commodity.

'They will provide us with additional financial flexibility to grow the company and allow us to focus all our management attention on becoming the premier supplier of building materials.'

As its past innovations had become industry standards (and were imitated by numerous competitors), it was essential for LP to launch new products that would give the company an edge over its rivals.

In 1997 LP unveiled its Advanced Technology Center, which provided the company with the facilities to conceive, test, and improve new offerings.

LP soon introduced a bevy of new product systems, including Smart Start siding, TechShield energy-efficient structural panels, TopNotch flooring, and Cocoon insulation.

In 1996, the company instituted an intensive employee training course—Rapid Change Technologies—designed to enhance workers' communication skills and to empower them to accept new ideas with ease.

To increase productivity, LP utilized Business Process Improvement technology to make its OSB mills more efficient.

Reinforced by a strong housing market, a booming economy, operational improvements, and greater numbers of specialty products, Louisiana-Pacific's future looked bright.

[12] In May 2002 Louisiana-Pacific Corporation announced an asset sale and debt reduction program designed to enhance its long-term competitiveness and financial flexibility.

[13] Company-wide, the downsizing included the sale of a total of 935,000 acres of timberlands nationally, along with manufacturing plants making plywood, pulp, industrial panels, and lumber.

[14] In December 2002, Louisiana-Pacific Corporation (LP) finalized the sale of 33,000 acres of timberland near Oakdale, Louisiana, to Barrs & Glawson Investments, LLC for approximately $30 million.

But the company has said it still intends to reopen the 130-worker Clarke County mill, which can make more than 700 million square feet a year of OSB at full capacity.

According to the ICC Evaluation Service (ICC-ES), it provides extended burn-through resistance, delivering a 15-minute thermal barrier (ASTM E119).

During 2006 through 2009 LP ramped up its Lean Six Sigma program, training and hiring Black Belts from within, and engaging people in LSS teams across the company.

Corp; Canfor-LP OSB Limited Partnership; US GreenFiber, LLC Georgia-Pacific Group; Boise-Cascade Corporation; James Hardie; Weyerhaeuser Company; Tolko On September 4, 2013, LP announced plans to acquire Vancouver, BC based Ainsworth Lumber in a stock and cash deal estimated at $1.1 billion.