NEW LIMERICK – A company in the midst of a $105 million expansion project slated to create approximately 40 new jobs recently was recognized for its influence on both the community and the state.

Louisiana Pacific Corp. was one of six Maine companies presented with a 2007 Governor’s Award for Business Excellence late last month.

The accolades were presented on behalf of Gov. John Baldacci and were handed out at the 56th Annual Colby Institute for Leadership luncheon March 21 at Colby College in Waterville.

The awards are administered by the Maine Department of Economic and Community Development and recognize Maine companies that demonstrate a high level of commitment to their community, employees and manufacturing or service excellence.

Since its founding in 1973, Louisiana Pacific Corp. has become one of the leading manufacturers of premium building products in North America. The company fabricates home-building products at 29 manufacturing plants throughout the United States, Canada and Chile.

The New Limerick plant was established in 1982 and now has 124 employees.

Last February, Louisiana Pacific Corp. announced plans to convert the site from oriented strand board production to oriented strand lumber production by later this year.

While oriented strand board is a plywood-like wood product that is made from wafers of wood, oriented strand lumber is a high-tech engineered wood product that company officials said would increase design flexibility and decrease labor costs for builders.

The production of oriented strand lumber is intended to diversify the corporation’s product line while meeting demands for alternative engineered products for home construction.

Once in operation, the plant will serve as the exclusive manufacturer of the company’s product while also becoming one of the few producers of oriented strand lumber in North America.

The expansion is slated to take place over several years, and officials hope to produce their first piece of oriented strand lumber by November.

The company was lauded at the awards ceremony for never having had a major layoff, reduction in work force or extended downtime in its 24-year history.

The company also funds numerous local activities and causes, including the Make-A-Wish Foundation.

Mike Mahoney, chief legal counsel for Baldacci, presented the awards and spoke on behalf of the governor at the ceremony.

“I am proud to recognize these outstanding Maine companies for their service to the state and their employees,” he said. “They raise the bar for our business community and are exemplary business models that deserve these accolades.”

More than 85 companies have been recognized with the award since it was first presented in 1991.

Skip Cleary, the New Limerick plant manager, could not be reached for comment on the award Thursday.

Other award recipients this year include: Down East Enterprise, Inc. of Camden, Downeast Energy & Building Supply of Brunswick, Millinocket Fabrication & Machine, Inc. of Millinocket, Norton Insurance and Financial Services of Cumberland and Brunswick, and WBRC Architects-Engineers of Bangor.