West Fraser Timber Co. Ltd.
TSX : WFT

West Fraser Timber Co. Ltd.

July 10, 2009 16:15 ET

West Fraser's Eurocan Operation Challenges Kitimat Property Tax Increase

VANCOUVER, BRITISH COLUMBIA--(Marketwire - July 10, 2009) - West Fraser (TSX:WFT) announced today that it has commenced proceedings to challenge the District of Kitimat's property taxes assessed against the Company's Eurocan linerboard and kraft paper operations.

Dennis Clare, manager of the Eurocan operation, commented: "We have commenced legal proceedings in order to preserve our right to formally challenge the municipal tax increase that we believe is unreasonable. However, we have paid the taxes as assessed and hope to continue to work with District Council to achieve a fair and reasonable outcome. We believe that Kitimat understands our position and is committed to resolving this issue."

This News Release contains certain statements about potential future developments, in particular, the potential of achieving a fair and reasonable outcome to the tax-related dispute. These are forward-looking statements and are presented to provide reasonable guidance to the reader but their accuracy depends on a number of assumptions and is subject to various risks and uncertainties including the ability and willingness of the District of Kitimat to vary or override the enacted tax by-law. Actual outcomes and results may differ materially from those anticipated or projected. Accordingly, readers should exercise caution in relying upon forward-looking statements and the Company undertakes no obligation to publicly revise them to reflect subsequent events or circumstances except as required by applicable securities laws.

West Fraser is an integrated wood products company producing lumber, LVL, MDF, plywood, pulp, linerboard, kraft paper and newsprint.

West Fraser shares trade on the Toronto Stock Exchange under the symbol: "WFT".

Contact Information

  • West Fraser Timber Co. Ltd.
    Larry S. Hughes
    Senior Vice-President
    (604) 895-2700
    (604) 681-6061 (FAX)
    www.westfraser.com
    or
    Eurocan Pulp & Paper
    Dennis Clare
    General Manager
    (250) 632-6111