VANCOUVER, May 16, 2019 /CNW/ - Today, West Fraser announced temporary production curtailments for a duration of approximately two weeks at two British Columbia sawmills: Chasm and 100 Mile House. The decision to implement this temporary reduction is due to the continued challenges of weak pricing in global lumber markets, high log costs and constrained timber supplies.
SPF lumber production is anticipated to be reduced by approximately 20 million board feet, in addition to previously announced permanent and temporary curtailments.
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 the timing of 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 2018 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