LP, Bangor Savings honored

    BANGOR — On Oct. 24, the Maine State Chamber of Commerce presented its annual awards during its 2007 Annual Meeting and Awards Dinner at the Bangor Civic Center. This year, the Maine State Chamber will bestow a total of eight awards.
    Award winners include: Bangor Savings Bank; Louisiana Pacific Corporation; and, UPC Wind’s Mars Hill Wind Farm Project. The Maine State Chamber of Commerce recognizes Maine businesses for outstanding contributions to the growth of their companies and the state’s economy. 
    Bangor Savings Bank has been serving Maine people and investing in Maine communities for 156 years. Today, with 51 branches, more than 600 employees, and $2 billion in bank assets, Bangor Savings Bank is the largest independent bank in Maine.
    The bank has achieved this growth through considerable investments over the past several years in new branches, new products, and its people.  Notably, Bangor Savings Bank purchased 31 mostly rural branches in 1998, and more recently has added eight new branches in less than a year by building or acquiring them in Cumberland and York counties.  All the while, the company’s headquarters and its processing and customer service operations have remained in Bangor.
    Bangor Savings Bank has invested as well in expanding its customer service offerings, adding brokerage, insurance, and payroll processing services over the past decade, as well as a wide range of business banking and consumer products.  Last year Bangor Savings became the first bank in Maine, and one of the first in the country, to offer free ATMs worldwide (even rebating other banks’ fees) for all of its customers.
     Last year, the bank originated more than $27 million in community development loans and committed nearly $1 million in grants and sponsorships to community groups and initiatives.  This included $100,000 in grants to more than 50 nonprofits through its unique Community Matters More program, in which Bangor Savings Bank’s giving has been guided by more than 42,000 votes cast by Maine people.
    Bangor Savings Bank’s Foundation also launched a major new initiative (Strategic Philanthropy) to forge long-term partnerships with organizations particularly focused on strengthening Maine’s economic future.      Bangor Savings Bank has received an “Outstanding” Community Reinvestment rating and a Maine Development Foundation 2006 Champion of Economic Development award for its community commitment.
     Louisiana Pacific, a proud employer and member of the New Limerick community since 1982, LP has invested more than $100 million to convert its manufacturing facility from oriented strand board (OSB) production to a new LP product, laminated strand lumber (LSL). Production of LSL will begin in early 2008, and is adding 60 new jobs to the mill, bringing employment at Houlton to 162.
    Several years ago, LP identified the opportunity to diversify its product line to meet demands for alternative engineered wood products for home construction.  The conversion of the Houlton OSB facility to an Engineered Wood Products facility producing LSL will take place over several years.  Houlton will be the exclusive manufacturer of LP’s laminated strand lumber (LSL), brand-named LP SolidStart LSL, and will be one of the few producers of LSL in North America.
    Introducing a brand new product line with new technology and manufacturing processes requires significant capital investment and represents important opportunities for LP’s product line expansion, new customers, and business growth.  It was important to launch this endeavor at a site with good wood supply, established capabilities, and an excellent work force. With a supportive community, top-notch workforce, and excellent environmental and safety record, LP’s Houlton site fit the bill.  The mill is a leader in both safety and environmental management, and is an OSHA VPP site, a member of EPA’s Performance Track program, and a recipient of the 2006 Maine Governor’s Award for Business Excellence.
    There is a growing demand for Laminated Strand Lumber in the marketplace because it provides superior durability, strength and consistency compared to dimensional lumber. An environmentally friendly product, it is manufactured from third-party-certified, sustainably harvested small-dimension trees. As an engineered wood product, it’s a good choice for those who care about building green, requiring fewer raw materials compared to solid-sawn lumber.  LP SolidStart LSL is suitable for a wide variety of residential building applications including headers and beams, wall studs, roof beams and rafters, rim board and stair stringers.  It will be available in much greater lengths than offered by dimensional lumber, offering virtually limitless design flexibility with less waste on job sites.