Nashville-based Louisiana Pacific had a net loss of $30 million dollars in the first quarter – an improvement over the same period last year for the building products company.
LP CEO Rick Frost says the loss came despite closing four mills and running others as little as one week during the quarter.
“Q-1 was truly what I would call a ‘nuclear winter’ as reflected in our sales volumes.”
Sales of engineered wood was down 50% from 2008. Siding sales were down 31%. Frost says LP hopes to get a seasonal lift over the summer despite a housing market that has a long way to go until full recovery.
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