Business
WEST FRASER TO ACQUIRE SPRAY LAKE SAWMILLS
WEST FRASER TO ACQUIRE SPRAY LAKE SAWMILLS Canada NewsWire VANCOUVER, BC ...
About this update from West Fraser Timber Co. Ltd.
[{"type":"text","content":"\n \n \n \n WEST FRASER TO ACQUIRE SPRAY LAKE SAWMILLS\n \n \n /* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n \n \n \n \n \n \n Canada NewsWire\n \n \n \n \n \n \n VANCOUVER, BC\n \n \n ,\n \n \n Sept. 6, 2023\n \n \n /CNW/ - West Fraser Timber Co. Ltd. (\"West Fraser\" or the \"Company\") (TSX and NYSE: WFG) announced today that it has entered into an agreement to acquire Spray Lake Sawmills located in\n \n Cochrane, Alberta\n \n subject to certain post-closing adjustments. The transaction is anticipated to close later this year following completion of Canadian regulatory reviews and satisfaction of customary conditions.\n \n \n \n \n \n \n \n \n \n Spray Lake Sawmills produces treated wood products, dimensional lumber and a variety of innovative wood residuals and biproducts. It has an annual lumber capacity of 155 million board feet and holds two Forest Management Agreements granted by the Government of\n \n Alberta\n \n with a total Annual Allowable Cut of approximately\n \n 500,000 m\n \n \n 3\n \n .\n \n \n \"We are excited to welcome Spray Lake Sawmills to the West Fraser family,\" said\n \n Ray Ferris\n \n , President & CEO 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.\"\n \n \n The\n \n CDN$140 million\n \n acquisition enables West Fraser to grow its footprint in\n \n Southern Alberta\n \n and expand its Canadian treated wood business, while providing access to a high-quality timber supply.\n \n \n \n About West Fraser\n \n \n \n West Fraser is a diversified wood products company with more than 60 facilities in\n \n Canada\n \n ,\n \n the United States\n \n , the\n \n United Kingdom\n \n , and\n \n Europe\n \n . From responsibly sourced and sustainably managed forest resources, the Company produces lumber, engineered wood products (OSB, LVL, MDF, plywood, and particleboard), pulp, newsprint, wood chips, other residuals, and renewable energy. West Fraser...