TSX: WEF
DUNCAN, BC, Jan. 31 /CNW/ - Western Forest Products Inc. (TSX: WEF) today announced that it has received approval from the BC Minister of Forests and Range to remove approximately 28,000 hectares of its private lands from its Tree Farm Licences 6, 19 and 25. The approval is subject to a number of conditions including giving right-of-way access on a number of the properties and agreeing that WFP's current practice of not exporting logs from these private lands will continue for a three year period.
Western Forest Products
Western is an integrated Canadian forest products company and the largest coastal British Columbia woodland operator and lumber producer with an Annual Allowable Cut of approximately 7.7 million cubic meters (before temporary AAC reductions) of timber and lumber capacity in excess of 1.5 billion board feet from nine sawmills and five remanufacturing plants. Principal activities conducted by the Company and its subsidiaries include timber harvesting, reforestation, sawmilling logs into lumber and wood chips, and value-added remanufacturing. Substantially all of Western's logging is conducted on government owned timberlands in British Columbia. All of Western's operations, employees and corporate facilities are located in the coastal region of British Columbia while its products are sold in over 20 countries worldwide.
Forward Looking Statements and Information
This press release contains forward-looking statements and forward-looking information within the meaning of applicable securities law. Those statements and information include statements or information regarding the intent, belief or current expectations of Western with respect to the approval of the BC Minister of Forest and Range to the removal of some of its private lands from its Tree Farm Licences. Such statements or information may be indicated by words such as "should", "will", "may" and similar words and phrases. Readers are cautioned that any such forward-looking statements or information are not guarantees and may involve known and unknown risks and uncertainties, and that the actual results may differ from those expressed or implied in the forward-looking statements or information as a result of various factors including, changes in government regulation, and misjudgments in the course of preparing forward-looking statements or information. The information contained under the "Risk Factors" section of Western's Annual Information Form and under the "Risks and Uncertainties" section of Western's Management's Discussion and Analysis identifies important factors that could cause such differences. All written and oral forward-looking statements or information attributable to Western or persons acting on behalf of Western are expressly qualified in their entirety by the foregoing cautionary statements. Western does not expect to update forward-looking statements or information as conditions change.