TSX: WEF
VANCOUVER, BC, Aug. 12, 2021 /PRNewswire/ - Western Forest
Products Inc. (TSX: WEF) ("Western" or the "Company") announced
today that it has completed the sale of certain properties,
including the Somass sawmill site, to the City of Port Alberni for $5.3 million.
"We are pleased to have worked in collaboration with the
City of Port Alberni to reach a
negotiated agreement that will support their long-term strategic
plan," said Don Demens, President
and Chief Executive Officer.
With the completion of the sale, the Company has announced the
permanent closure of its Somass sawmill. The sawmill was
indefinitely curtailed in July 2017
in response to the lack of log supply to operate the mill
efficiently.
About Western Forest Products Inc.
Western is an integrated forest products company building a
margin-focused log and lumber business to compete successfully in
global softwood markets. With operations and employees located
primarily on the coast of British
Columbia and Washington
State, Western is a premier supplier of high-value,
specialty forest products to worldwide markets. Western has a
lumber capacity in excess of 1.0 billion board feet from seven
sawmills and four remanufacturing facilities. The Company sources
timber from its private lands, long-term licenses, First Nations
arrangements, and market purchases. Western supplements its
production through a wholesale program providing customers with a
comprehensive range of specialty products.
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SOURCE Western Forest Products Inc.