Business
Western Forest Products to Delay Filing 2007 First Quarter Results
Western Forest Products to Delay Filing 2007 First Quarter Results.
About this update from Western Forest Products Inc.
[{"type":"text","content":"\n\n\n\nTSX: WEF\n\n\nDUNCAN, BC, May 15 /CNW/ - Western Forest Products Inc. (TSX: WEF)\n("Western") today announced that it will delay the filing of financial results\nfor the first quarter of 2007 beyond the May 15, 2007 deadline. The delay in\nfiling is attributable to a longer than anticipated period for the\nimplementation of new accounting systems that became effective on January 1,\n2007. The new accounting systems will provide management and financial\nreporting information on an integrated basis instead of from the three\ndisparate systems at Western's legacy operations. The Company expects to file\nits first quarter results within ten days.\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\nAllowable Annual Cut of approximately 7.7 million cubic meters of timber\n(before temporary AAC reductions and reductions with respect to the removal of\ncertain private timberlands from Tree Farm Licences) and lumber capacity in\nexcess of 1.5 billion board feet from eight sawmills and four remanufacturing\nplants. Principal activities conducted by the Company and its subsidiaries\ninclude timber harvesting, reforestation, sawmilling logs into lumber and wood\nchips, and value-added remanufacturing. Western's logging is conducted\nprimarily on government owned timberlands in British Columbia. Substantially\nall of Western's operations, employees and corporate facilities are located in\nthe coastal region of British Columbia while its products are sold in over 20\ncountries 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. Such statements or\ninformation may be indicated by words such as "approximately", "achieving",\n"estimated", "expect", "anticipate", "plan", "intend", "believe", "will",\n"should", "may" and similar words and phrases. Readers are cautioned that any\nsuch forward-looking statements or inf...