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| Western Reaches Agreement With Union |
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Vancouver, British Columbia, Canada 31 July 2014 -- (Marketwired) -- Western Forest Products Inc. (WEF.TO) ("Western" or the "Company") announces that a new five-year labour contract with the United Steelworkers union ("USW") has been ratified by a majority of union members. Approximately 1,500 Western employees are covered under this new collective agreement that expires on June 15, 2019. The previous agreement had expired on June 15, 2014.
"We are pleased with the strong support expressed by our employees in ratifying this agreement," said Don Demens, President and Chief Executive Officer. "This is the second successive agreement that we have reached with the union in a co-operative manner, and for that I would like to recognize all parties involved for their efforts. A continuation of our partnership is paramount to the success of the Company and our ability to build a globally competitive, sustainable forest products business on the coast of B.C."
About Western Forest Products Inc.
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 two remanufacturing plants. Principal activities conducted by the Company include timber harvesting, reforestation, sawmilling logs into lumber and wood chips 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.
Forward-Looking Statements
This press release contains statements which constitute forward-looking statements within the meaning of applicable securities laws. Such statements include our current intent, belief or expectations primarily with respect to market and general economic conditions, future costs, expenditures, and our future operating performance, objectives and strategies. Such statements and information may be indicated by words such as "estimate", "expect", "anticipate", "plan", "intend", "believe", "should", "may" and similar words and phrases. Readers are cautioned that it would be unreasonable to rely on any such forward- looking statements as creating any legal rights, and that the statements are not guarantees and may involve known and unknown risks and uncertainties, and that actual results and objectives and strategies may differ or change from those expressed or implied in the forward-looking statements as a result of various factors. Such risks and uncertainties include, among others: general economic conditions, our ability to build a sustainable operation, the impact of labour agreements and potential disruptions, natural disasters, relations with First Nations groups, changes in laws, regulations or public policy, misjudgements in the course of preparing forward-looking statements, changes in opportunities and other factors as detailed time to time in our Canadian securities filings, including the our MD&A in our 2013 Annual Report dated February 20, 2014. All written and oral forward-looking statements attributable to us or persons acting on our behalf are expressly qualified in their entirety by the foregoing cautionary statements. Except as required by law, Western does not expect to update forward-looking statements or information as conditions change.
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