Business
Western Confirms Reduction in Anti-Dumping Rate
Western Confirms Reduction in Anti-Dumping Rate.
About this update from Western Forest Products Inc.
[{"type":"text","content":"\n\n\n\n\nTSX: WEF \n\nDUNCAN, BC, Aug. 19 /CNW/ - Western Forest Products Inc. (\"Western\" or\nthe \"Company\") announces, as a follow up on the comments made regarding\nsoftwood lumber duties during its conference call on August 15, 2005 and in\nresponse to questions it subsequently received regarding its changed\ncircumstances application, that the Company has, as anticipated, received a\npositive ruling from the US Department of Commerce confirming that for\nsoftwood lumber anti-dumping deposit purposes the Company is entitled to use\nthe \"all others rate\" of 3.78% until the next determination of the \"all others\nrate\". As noted in the Company's Second Quarter Report, a favourable\npreliminary ruling had been previously issued. This decision is the final\nruling referred to in that report. The ruling is effective immediately and\nmeans the Company will post the lower 3.78% anti-dumping rate on its shipments\nof lumber into the United States instead of the higher rate it has been paying\nsince April 26, 2005 of 11.54%.\n\nAbout Western:\n\nWestern is an integrated Canadian forest products company and the second\nlargest coastal woodland operator in British Columbia. Principal activities\nconducted by Western and its subsidiaries include timber harvesting,\nreforestation, sawmilling logs into lumber and wood chips, value-added\nremanufacturing and producing NBSK pulp. Over 95% of Western's logging is\nconducted on government owned timberlands in British Columbia. All of\nWestern's operations, employees and corporate facilities are located in the\ncoastal region of British Columbia and its products are sold in 25 to 30\ncountries worldwide.\n\nForward Looking Statement\n\nThis press release contains statements that are forward-looking in\nnature. Those statements appear in a number of places herein and include\nstatements regarding the intent, belief or current expectations of Western,\nprimarily with respect to market and general economic conditions, future\ncosts, expenditures, available harvest levels and future operating performance\nof Western. Such statements may be indicated by words such as \"estimate\",\n\"expect\", \"anticipate\", \"plan\", \"intend\", \"believe\", \"will\", \"should\", \"may\"\nand similar words and phrases. Readers are cautioned that any such \nforward-looking statements are not guarantees and ...