NASHVILLE, Tenn. (News release) -- LP Building Solutions announced that it closed on the previously announced sale of its 50% equity interest in two joint ventures that produce I-joists to Resolute Forest Products Inc.

The joint ventures were comprised of Resolute-LP Engineered Wood Larouche Inc. in Larouche, Quebec and Resolute-LP Engineered Wood St-Prime Limited Partnership in Saint-Prime, Quebec. The long-time partnership was established as an equity method investment in which both LP and Resolute Forest Products had a 50% interest in each entity.

In connection with the closing, LP entered into separate agreements with Resolute Forest Products to continue serving as the exclusive distributor of the engineered wood products manufactured at the two operations.