VANCOUVER, BC, Sept. 19, 2024 /PRNewswire/ – West Fraser Log Co. Ltd. (“West Fraser” or the “Company”) (TSX andNYSE: WFG) introduced as of late that it’ll indefinitely curtail its sawmill in Pond Butler, Florida by way of the top of this day. These days’s choice is the results of prime fiber prices and cushy lumber markets.
The indefinite curtailment of Pond Butler Sawmill will have an effect on roughly 130 workers and shed West Fraser’s U.S. lumber capability by way of roughly 110 million board ft. West Fraser expects to mitigate the have an effect on on affected workers by way of offering paintings alternatives at alternative corporate operations.
Top fiber prices at Pond Butler and the tide low-price commodity state have used the facility to profitably perform the mill. The indefinite curtailment of Pond Butler sawmill higher aligns our U.S. lumber capability with call for.
West Fraser anticipates taking an impairment fee within the 3rd quarter of 2024 related to the announcement.
About West Fraser
West Fraser is a various log merchandise corporate with greater than 60 amenities in Canada, america, the United Kingdom, and Europe, which promotes sustainable jungle practices in its operations. The Corporate produces lumber, engineered log merchandise (OSB, LVL, MDF, plywood, and particleboard), pulp, newsprint, log chips, alternative residuals, and renewable power. West Fraser’s merchandise are impaired in house development, restore and remodelling, business programs, papers, tissue, and field fabrics. For more info about West Fraser, talk over with: www.westfraser.com.
Ahead-Having a look Statements
This information reduce incorporates forward-looking data or forward-looking statements (jointly, “forward-looking statements”) throughout the that means of appropriate securities rules, together with the ones in the case of the Corporate’s indefinite curtailment of the Pond Butler sawmill and expected timing thereof, anticipated aid of lumber capability, expected impairment fee within the 3rd quarter of 2024 in addition to indistinguishable staff have an effect on and our talent to mitigate the have an effect on on affected workers and higher align manufacturing capability with call for. One of these forward-looking statements are in keeping with data lately to be had to us and are in keeping with suppositions and analyses made by way of us making an allowance for our enjoy and our belief of historic developments and tide situations, together with our evaluate of upper fiber provide prices, the low-price commodity state and our talent to perform the Pond Butler sawmills profitably and are matter to inherent dangers and uncertainties. Readers must additionally please see the danger elements eager forth within the Corporate’s annual data mode and control’s dialogue and research for the hour ended December 31, 2023, each and every dated February 14, 2024, as up to date in our control’s dialogue and research for the 3 and 6 months ended June 28, 2024, dated July 24, 2024, each and every to be had at SEDAR+ (www.sedarplus.ca) and EDGAR (www.sec.gov/edgar). There will also be deny promise that the plans, intentions, or expectancies upon which forward-looking statements are primarily based might be discovered. Untouched effects would possibly fluctuate, and the too much could also be subject matter and adversarial to the Corporate and its shareholders. Aside from as could also be required by way of regulation, the Corporate undertakes deny legal responsibility to publicly replace or revise any forward-looking statements.
SOURCE West Fraser Log Co. Ltd.
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