NASHVILLE, Tenn. -- Louisiana-Pacific Corporation has finalized the acquisition of International Barrier Technology Inc. (Barrier), the Watkins, Minn.-based company that manufactures the fire retardant coating used in LP® FlameBlock® fire rated engineered wood products.

The $22 million agreement involved cash for shares, making Barrier a wholly-owned subsidiary of LP. Barrier shareholders approved the acquisition on Sept. 28.

LP announced its intentions to purchase Barrier in July, noting that the purchase provides long-term protection on the company's continuing investment in FlameBlock market development and product sales.

The trend for more fire resistance products in residential and commercial buildings continues to escalate, driven by changing building codes and their enforcement.

LP will continue to honor Barrier's existing contracts and service its customers' needs. Barrier will operate as part of LP's OSB business.

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