West Fraser Announces Temporary Production Curtailments in British Columbia
Nov 30, 2018, 17:30 ET
VANCOUVER, Nov. 30, 2018 /CNW/ - Today West Fraser announced it will implement temporary production curtailments over the holiday period at four of its British Columbia sawmills. The Company's operations in Chasm, 100 Mile House, Williams Lake and Chetwynd are all affected by the decision. Ted Seraphim, CEO of West Fraser stated, "Challenging lumber markets and high log costs coupled with log supply constraints have necessitated this difficult decision." The curtailments are expected to reduce SPF lumber production by approximately 25 million board feet in 2018.
West Fraser is a diversified wood products company producing lumber, LVL, MDF, plywood, pulp, newsprint, wood chips and energy with facilities in western Canada and the southern United States.
This News Release contains descriptions of current circumstances and statements about potential future developments including statements about the reduction of lumber production. The latter, which are forward‑looking statements, are presented to provide reasonable guidance to the reader but their accuracy depends on a number of assumptions and is subject to various risks and uncertainties. Actual outcomes and results will depend on a number of factors that could affect the ability of the Company to execute its business plans, including those matters described in the 2017 annual Management's Discussion & Analysis under "Risks and Uncertainties", and may differ materially from those anticipated or projected. Accordingly, readers should exercise caution in relying upon forward‑looking statements and the Company undertakes no obligation to publicly revise them to reflect subsequent events or circumstances, except as required by applicable securities laws.
West Fraser shares trade on the Toronto Stock Exchange under the symbol: "WFT".
SOURCE West Fraser Timber Co. Ltd.
For further information: Chris Virostek, Vice-President, Finance and Chief Financial Officer, (604) 895-2700, www.westfraser.com
