In An Industry Ripe For Disruption, Lp Building Solutions Is Taking The Lead And Showing The Building Products Sector How It’s Done.
“Although ongoing pressures present many risks to industry incumbents, they also represent transformative opportunities to create value. A rapidly changing environment will demand new responses and ways of thinking. Leaders in the building-products industry that have traditionally excelled at operational and technical disciplines, such as engineering, will need to reframe their approaches to the industry — and themselves — and become nimble strategists.”
Having rolled out a strategic initiative that is shifting them out of the commodity space and into delivering value-added, high performance branded solutions, LP Building Solutions (NYSE:LPX) is demonstrating the essential agility required to thrive in this hyper pressurized environment.
“The timing (for this) was right because we needed to alter our course and take control of our future as a company — needed to redefine who we were going to be as a company,” explained Mike Sims, the company’s SVP of Business Development and Corporate Marketing.
In 2014, LP, then commonly known as Louisiana-Pacific, abandoned a proposed acquisition of Ainsworth Lumber that would have given the firm a greater foothold in regional oriented strand board (OSB) markets in the Pacific Northwest and Midwest. The decision proved fortuitous.
Sims continued, “Without this option we needed a new strategy to grow. As we were reflecting on our past, we realized that we had become complacent around accepting the fate of the commodity markets.
This story is from the August 2019 edition of The BOSS Magazine.
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This story is from the August 2019 edition of The BOSS Magazine.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 8,500+ magazines and newspapers.
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