09:35:35 EDT Sun 24 Sep 2023
Enter Symbol
or Name

West Fraser Timber Co Ltd
Symbol WFG
Shares Issued 85,054,705
Close 2022-08-10 C$ 117.71
Recent Sedar Documents

Globe/CP say West Fraser cuts 147 jobs in B.C. mills

2022-08-11 08:44 ET - In the News

The Globe and Mail reports in its Thursday edition that West Fraser Timber is cutting a shift at three B.C. mills for a loss of 147 jobs as it reduces production in part because of lack of timber supplies. A Canadian Press dispatch to The Globe says that shift reductions will mean a loss of 77 jobs at its Fraser Lake sawmill, 15 positions at is Williams Lake lumber mill and 55 jobs at its Quesnel plywood mill. The job cuts, expected to take place over the fourth quarter, come as the company permanently cuts about 170 million board feet of combined production at its Fraser Lake and Williams Lake sawmills and about 85 million square feet of plywood production at its Quesnel operation. The Vancouver-based company says it expects to reduce the impact on affected employees by providing work opportunities at other West Fraser operations. Access to timber has become an increasing challenge in British Columbia as the mountain pine beetle, wildfires and other issues hit supplies, while West Fraser says that transportation constraints have also reduced its ability to access markets. West Fraser closed Wednesday at $117.71, up $2.40 on the Toronto Stock Exchange.

© 2023 Canjex Publishing Ltd. All rights reserved.