Ainsworth is agreeing to sell all of its operations, including the Barwick mill, to U.S. forestry giant Louisiana Pacific in a deal worth 1.1 billion dollars.
Louisiana-Pacific chief executive Curt Stevens says the acquisition provides more financial stability to weather market conditions.
Stevens says it will also gives L-P greater access to the Asian market where Ainsworth is well established.
The deal is expected to close by the end of the year.
