Business
West Fraser completes the sale of the Babine and Decker Lake sawmills
West Fraser completes the sale of the Babine and Decker Lake sawmills.
About this update from West Fraser Timber Co. Ltd.
[{"type":"text","content":"\n\n\n\n\nVANCOUVER, Oct. 31 /CNW/ - West Fraser Timber Co. Ltd. (TSX: WFT)\nannounced today that, further to its news release of September 15, 2006, it\nhas completed the sale of its interests in the Babine and Decker Lake sawmills\nto a wholly-owned subsidiary of Hampton Lumber Mills, Inc., for estimated\nproceeds of $78 million, inclusive of working capital. The purchase price is\nsubject to adjustment based on actual working capital at closing. In addition,\nWest Fraser is entitled to receive its share of duty refund payments, net of\ntaxes and expenses, that may be received by the Babine and Decker Lake\nsawmills related to softwood lumber duties paid prior to closing.\n\nWest Fraser is an integrated forest products company that produces\nlumber, LVL, MDF, plywood, pulp, linerboard, kraft paper and newsprint. The\nCompany has manufacturing operations in British Columbia, Alberta and the\nsouthern United States. West Fraser has approximately 6,900 employees and is\nheadquartered in Vancouver, British Columbia.\nWest Fraser shares trade on the Toronto Stock Exchange under the\nsymbol: WFT\n\n%SEDAR: 00002660E\n\n\n","length":1185,"tagName":"div"}]