Mr. Ray Ferris reports
WEST FRASER TO ACQUIRE SPRAY LAKE SAWMILLS
West Fraser Timber Co. Ltd. has entered into an agreement to acquire Spray Lake Sawmills located in Cochrane, Alta., subject to certain postclosing adjustments. The transaction is anticipated to close later this year following completion of Canadian regulatory reviews and satisfaction of customary conditions.
Spray Lake Sawmills produces treated wood products, dimensional lumber, and a variety of innovative wood residuals and byproducts. It has an annual lumber capacity of 155 million board feet and holds two forest management agreements granted by the government of Alberta with a total annual allowable cut of approximately 500,000 cubic metres.
"We are excited to welcome Spray Lake Sawmills to the West Fraser family," said Ray Ferris, president and chief executive officer, West Fraser. "Spray Lake Sawmills has an experienced, dedicated group of employees who we will look to further the legacy of this proud mill. With its solid safety performance, and focus on sustainability and community, the mill is an ideal fit for West Fraser."
The $140-million acquisition enables West Fraser to grow its footprint in southern Alberta and expand its Canadian treated wood business, while providing access to a high-quality timber supply.
About West Fraser
Timber Co. Ltd.
West Fraser is a diversified wood products company with more than 60 facilities in Canada, the United States, the United Kingdom and Europe. From responsibly sourced and sustainably managed forest resources, the company produces lumber, engineered wood products (oriented standard board, laminated veneer lumber, medium-density fibreboard, plywood and particleboard), pulp, newsprint, wood chips, other residuals, and renewable energy. West Fraser's products are used in home construction, repair and remodelling, industrial applications, papers, tissue, and box materials.
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