VANCOUVER, BC, Feb. 5, 2024
/PRNewswire/ - West Fraser Timber Co. Ltd. ("West Fraser" or
the "Company") (TSX and NYSE: WFG) announced today that the Company
has completed the sale of its Hinton Pulp mill to Mondi Group plc
("Mondi") following completion of Canadian regulatory reviews and
satisfaction of customary closing conditions.
"We would like to thank our dedicated employees, the community
of Hinton, and the Government of
Alberta, for their efforts in
helping close this transaction," said Sean
McLaren, President & CEO West Fraser. "The future of the
Hinton Pulp mill is bright."
Hinton Pulp produces unbleached kraft pulp. West Fraser will
continue to support the mill through a long-term fibre supply
agreement.
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. These forward-looking statements
include, among other things, the expected future of the Hinton Pulp
mill and realization of expected benefits from completion of the
acquisition, including the continued support of the Hinton Pulp
mill through a long‑term fibre supply agreement. 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 and are subject to inherent risks and
uncertainties including risks associated with the long‑term fibre
supply agreement, including credit and counterparty risk and our
ability to successfully complete regulatory reviews and satisfy
closing conditions, including requisite regulatory approvals, and
the potential impact of the announcement or completion of the
transaction on relationships, including regulatory bodies,
employees, suppliers, customers and competitors. 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, 2022, each
dated February 14, 2023, as updated
in our management's discussion and analysis for the nine months
ended September 29, 2023, dated
October 25, 2023, each available at
SEDAR+ (www.sedarplus.ca) 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.
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SOURCE West Fraser Timber Co. Ltd.