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Western Forest Products Inc T.WEF

Alternate Symbol(s):  WFSTF

Western Forest Products Inc. is a Canada-based integrated forest products company building a margin-focused log and lumber business to compete in global softwood markets. The Company’s primary business is the sale of lumber and logs, which includes timber harvesting, sawmilling logs into specialty lumber, value-added lumber and glulam remanufacturing, and wholesaling purchased lumber. It has a lumber capacity of approximately 885 million board feet from six sawmills, as well as operates four remanufacturing facilities and two glulam manufacturing facilities. The Company's product categories include outdoor living, exterior appearance, LIFESTYLE CEDAR, interior living, structural, industrial and WFP engineered products. Its outdoor living products include decking, timbers and fencing products. Its LIFESTYLE CEDAR products include LIFESTYLE CEDAR Decking and LIFESTYLE CEDAR Fencing. Its WFP Engineered Products include curved and arched glulams, straight glulams, and fabricated trusses.


TSX:WEF - Post by User

Post by Possibleidiot01on Jan 28, 2023 7:05am
394 Views
Post# 35251621

BNN article on APD closure

BNN article on APD closure
 

15h ago

 

Western Forest Products' Port Alberni, B.C., mill closes as company seeks viable path

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Western Forest Products Inc. logo

WESTERN FOREST PRODUCTS INC (WEF:CT)

1.39 0.04 (2.96%)
 
As of: 01/28/23 6:58:13 am
REAL-TIME QUOTE. Prices update every five seconds for TSX-listed stocks
Apr '22Jul '22Oct '22Jan '230.511.522.5
 
Chart Type - 1year
 
 
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More than 100 workers in Port Alberni are the latest forest industry employees to face layoffs as Western Forest Products confirms it will not restart its sawmill in that Vancouver Island city.

The Alberni-Pacific Division facility has been closed since last fall, but the curtailment was only expected to last for six months, unless market conditions changed.

Western Forest Products announced Thursday that the mill will not restart "in its current configuration" and says a group, including the United Steelworkers and Indigenous partners, will spend the next 90 days seeking viable solutions for the operation.

Western Forest Products operates several mills on Vancouver Island and the Port Alberni facility is the only one facing closure.

A statement from CEO Steven Hofer says the coastal forest sector has a strong future, and Western Forest Products is working to "achieve a long-term sustainable business model in B.C. that evolves with the changing fibre supply, forest policies and global markets."

Canfor Corp. has said lack of fibre and weak markets are reasons for the permanent closure of its Chetwynd mill and the pulp line in Prince George, as well as the planned two-year closure and retooling of its Houston operation, potentially affecting as many as 800 jobs at the three facilities.

This report by The Canadian Press was first published Jan. 27, 2023.

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