Business
Western Forest Products Receives Approval to Remove Private Lands From Its Tree Farm Licences
Western Forest Products Receives Approval to Remove Private Lands From Its Tree Farm Licences.
About this update from Western Forest Products Inc.
[{"type":"text","content":"\n\n\n\nTSX: WEF\n\n\nDUNCAN, BC, Jan. 31 /CNW/ - Western Forest Products Inc. (TSX: WEF) today\nannounced that it has received approval from the BC Minister of Forests and\nRange to remove approximately 28,000 hectares of its private lands from its\nTree Farm Licences 6, 19 and 25. The approval is subject to a number of\nconditions including giving right-of-way access on a number of the properties\nand agreeing that WFP's current practice of not exporting logs from these\nprivate lands will continue for a three year period.\n\n\nWestern Forest Products\n\n\nWestern is an integrated Canadian forest products company and the largest\ncoastal British Columbia woodland operator and lumber producer with an Annual\nAllowable Cut of approximately 7.7 million cubic meters (before temporary AAC\nreductions) of timber and lumber capacity in excess of 1.5 billion board feet\nfrom nine sawmills and five remanufacturing plants. Principal activities\nconducted by the Company and its subsidiaries include timber harvesting,\nreforestation, sawmilling logs into lumber and wood chips, and value-added\nremanufacturing. Substantially all of Western's logging is conducted on\ngovernment owned timberlands in British Columbia. All of Western's operations,\nemployees and corporate facilities are located in the coastal region of\nBritish Columbia while its products are sold in over 20 countries worldwide.\n\n\nForward Looking Statements and Information\n\n\nThis press release contains forward-looking statements and\nforward-looking information within the meaning of applicable securities law.\nThose statements and information include statements or information regarding\nthe intent, belief or current expectations of Western with respect to the\napproval of the BC Minister of Forest and Range to the removal of some of its\nprivate lands from its Tree Farm Licences. Such statements or information may\nbe indicated by words such as \"should\", \"will\", \"may\" and similar words and\nphrases. Readers are cautioned that any such forward-looking statements or\ninformation are not guarantees and may involve known and unknown risks and\nuncertainties, and that the actual results may differ from those expressed or\nimplied in the forward-looking statements or information as a result of\nvarious factors including, changes in government regulation, and misjudgments...