VANCOUVER, June 28, 2019 /CNW/ - Today, West Fraser announced a temporary, two-week suspension of production at its Alberta Plywood operations and High Prairie sawmill to address low log inventories for the facilities.
Log inventories in support of these mills have been adversely impacted by wildfire-related logging curtailments compounded by recent wet weather. The decision to implement this temporary reduction provides time to build log inventories to more appropriate levels.
Plywood production is anticipated to be reduced by approximately 13 million square feet, while the impact on Alberta lumber production is anticipated to be minor.
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 and approximate amount of the reduction of lumber and plywood 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