Each issue of PaperMoney is approximately 500 fact filled pages.
Logout
Click here for Pulp & Paper Radio International
Items just for you
New publication added! Advertising Arguments 2015 book
Free Downloads
Search
My Profile
Login
Management Side
Technical Side
Western Forest Products Inc. Continues Progress
Print

Vancouver, British Columbia, Canada 28 January 2013 -- Vancouver, British Columbia. Western Forest Products Inc. (TSX:WEF) ("Western" or the "Company") today announced that it has entered into a conditional agreement for the sale of its former Woodfibre Pulp Mill site for the purchase price of $25.5 million. The site, consisting of 212 acres of industrial waterfront land, is located at the head of Howe Sound, southwest of Squamish, British Columbia. Closing of the sale is subject to certain conditions, and Western will be responsible for satisfactorily remediating the property to applicable environmental standards prior to closing the sale. The net proceeds from the sale are expected to be approximately $17 million.

“Our non-core asset divestiture program will continue to further strengthen our balance sheet and provides additional financial flexibility to pursue our strategic capital plan” said Dominic Gammiero, Chairman and Chief Executive Officer.

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 available harvest of approximately 6.4 million cubic metres of timber of which approximately 6.2 million cubic metres is from Crown lands and lumber capacity in excess of 1.1 billion board feet from eight sawmills and three remanufacturing plants. Principal activities conducted by the Company include timber harvesting, reforestation, sawmilling logs into lumber and by-products and value-added remanufacturing. Substantially 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 25 countries worldwide.



Powered by Bondware
News Publishing Software

The browser you are using is outdated!

You may not be getting all you can out of your browsing experience
and may be open to security risks!

Consider upgrading to the latest version of your browser or choose on below: