VANCOUVER, BC, Feb. 7, 2023
/PRNewswire/ - West Fraser Timber Co. Ltd. ("West Fraser") (TSX and
NYSE: WFG) today announced the planned curtailment of operations at
Cariboo Pulp & Paper located in Quesnel, British Columbia, beginning in
mid-April for a month and then for another month in the third
quarter.
Today's decision is the result of the decline in availability of
sawmill residuals. The fibre supply challenge in British Columbia is well documented.
Infestation, fire, and government policy decisions have all
impacted the amount of available fibre in the province.
Downtime at Cariboo Pulp & Paper will help better align our
production capacity this year with the available fibre supply.
These plans may be adjusted should fibre forecasts change.
Cariboo Pulp & Paper expects to mitigate some of the impact
on its affected employees through vacation scheduling and
alternative work assignments.
Cariboo Pulp & Paper is jointly owned by West Fraser and
Mercer International.
About West Fraser
West Fraser is a
diversified wood products company with more than 60 facilities in
Canada, the United States, the United Kingdom, and Europe. 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's products are used
in home construction, repair and remodelling,
industrial applications, papers, tissue, and box materials.
For more information about West Fraser,
visit
www.westfraser.com.
Forward-Looking Statements
This news release contains
forward-looking information or forward-looking statements
(collectively, "forward-looking statements") within the meaning of
applicable securities laws, including those relating to the planned
curtailment of Caribou Pulp & Paper, the related workforce
impact of such planned curtailment, the ability to mitigate the
impact on effected employees and better align production capacity
with available fibre supply, as well as the potential to adjust the
timing and duration of such curtailment should fibre forecasts
change from that anticipated. Any such forward-looking
statements are based on information currently available to us and
are based on assumptions and analyses made by us considering
our experience and our perception of historical trends and current
conditions, including our assessment of the forecast availability
of sawmill residuals, fibre supply costs, and are subject to
inherent risks and uncertainties. Readers should also refer to the
risk factors set forth in the Company's annual information form and
management's discussion and analysis for the year ended
December 31, 2021, each dated
February 15, 2022, as updated in our management's discussion
and analysis for the nine months ended September 30, 2022, dated October 26, 2022, each available at SEDAR
(www.sedar.com) and EDGAR
(www.sec.gov/edgar.shtml). There can be no assurance
that the plans, intentions, or expectations upon which
forward-looking statements are based will be realized. Actual
results may differ, and the difference may be material and adverse
to the Company and its shareholders. Except as may be required
by law, the Company undertakes no obligation to publicly update or
revise any forward-looking statements.
View original content to download
multimedia:https://www.prnewswire.com/news-releases/cariboo-pulp--paper-planned-curtailment-this-spring-and-fall-301741291.html
SOURCE West Fraser Timber Co. Ltd.