Ainsworth Lumber gets nod for adoption of a stock option plan

Canadian company Ainsworth Lumber Co. Ltd. has announced that its Board of Directors has approved the adoption of a stock option plan, under which options to acquire a maximum of 9,000,000 common shares are issuable for terms of up to 10 years.

The stock option plan is subject to regulatory approval and approval by the shareholders of the Company at the annual general meeting in 2009.

Ainsworth Lumber Co., Ltd. founded in 1950 manufactures, markets, and distributes engineered wood products for residential, commercial, and industrial applications in the United States and Canada.

The company's products include oriented strand board (OSB) and specialty overlaid plywood.