VANCOUVER AND TORONTO, Jan. 30, 2015 /CNW/ – Ainsworth Lumber Co. Ltd.
(TSX: ANS) (“Ainsworth”) and Norbord Inc. (TSX: NBD) (“Norbord”) today
announced that the Supreme Court of British Columbia has granted a
final order approving the previously announced proposed combination of
Norbord and Ainsworth by way of a plan of arrangement under the Business Corporations Act (British Columbia).

The transaction remains subject to customary conditions to closing. As
previously announced, Norbord and Ainsworth are providing the U.S.
Department of Justice (the “DOJ”) with the information it has requested
about the transaction and are working proactively with the DOJ to
ensure an expedited review process. Subject to the satisfaction or
waiver of all closing conditions, the transaction is expected to close
by the end of the first quarter of 2015.

About Norbord

Norbord Inc. is an international producer of wood-based panels with
assets of more than $1 billion, employing approximately 1,900 people at
13 plant locations in the United States, Europe and Canada. Norbord is
one of the world’s largest producers of oriented strand board (OSB). In
addition to OSB, Norbord manufactures particleboard, medium density
fibreboard and related value-added products. Norbord is a publicly
traded company listed on the Toronto Stock Exchange under the symbol
NBD.

About Ainsworth

Ainsworth Lumber Co. Ltd. is a leading manufacturer and marketer of OSB
with a focus on value-added specialty products for markets in North
America and Asia. Ainsworth’s four OSB manufacturing mills, located in
Alberta, British Columbia and Ontario, have a combined annual capacity
of 2.5 billion square feet (3/8-inch basis). Ainsworth is a publicly
traded company listed on the Toronto Stock Exchange under the symbol
ANS.

Forward Looking Information

Certain information provided in this news release is forward-looking
information pursuant to National Instrument 51-102 promulgated by the
Canadian Securities Administrators. Norbord and Ainsworth believe that
the expectations reflected in such information are reasonable, but no
assurance is given that such expectations will be correct.
Forward-looking information is based on the beliefs and assumptions of
Norbord and Ainsworth based on information available at the time the
assumptions were made and on management’s experience and perception of
historical trends, current conditions and expected further developments
as well as other factors deemed appropriate in the circumstances.
Investors are cautioned that there are risks and uncertainties related
to such forward-looking information and actual results may vary. This
news release contains forward-looking information concerning the
anticipated completion of the transaction and the anticipated timing
for completion of the transaction. Important factors that could cause
actual results to differ materially from those expressed or implied by
such forward looking information include, without limitation, the
timing of receipt of any necessary third party approvals, the timing
for completion and the outcome of the U.S. Department of Justice’s
review and the time necessary to satisfy the conditions to closing of
the transaction. There can be no assurances that any such approvals
will be obtained, the U.S. Department of Justice’s review will be
completed on a timely basis or with a satisfactory outcome and/or any
such conditions will be met or waived. The transaction could be
modified, restructured or terminated. Investors are cautioned that the
foregoing list of factors is not exhaustive. Additional information on
these and other factors that could affect the operations or financial
results of Norbord, Ainsworth or the combined company are included in
the joint management information circular in relation to the proposed
combination and other filings made by Norbord and Ainsworth with the
Canadian Securities Administrators and may be accessed through SEDAR
(www.sedar.com), at www.norbord.com or at www.ainsworthengineered.com.
The forward-looking information is made as of the date of this news
release and Norbord and Ainsworth assume no obligation to update or
revise them to reflect new events or circumstances, except as
explicitly required by applicable securities laws.

SOURCE Norbord Inc.