West Fraser to Acquire Timber Tenures from Weyehaeuser
Vancouver, British Columbia, Canada, 18 February 2008 -– West Fraser Timber Co. Ltd. has entered into an agreement to acquire certain timber tenures in the Kamloops region from Weyerhaeuser Company, including the northern portion of Tree Farm License 35 and Forest License (FL) A74910, having an aggregate Allowable Annual Cut (AAC) of approximately 400,000 cubic meters per year.
These tenures will increase West Fraser’s long-term timber supply and will help to offset anticipated declines in future timber supply as a result of the current mountain pine beetle infestation. The acquisition is expected to benefit West Fraser operations in 100 Mile House, Chasm and Williams Lake, British Columbia, and the south Cariboo communities associated with these operations.
The transaction is subject to various regulatory reviews and requires the consent of the British Columbia Minister of Forests and Range. Terms of the transaction remain confidential.
The remaining tenure held by Weyerhaeuser in the Kamloops TSA, FL A18694, which has an AAC of approximately 356,000 cubic meters per year, will be acquired by International Forest Products Ltd.
West Fraser is an integrated wood products company producing lumber, LVL, MDF, plywood, pulp, linerboard, kraft paper, and newsprint. The company has approximately 9000 employees and operations in western Canada and the southern United States.