Western Forest Products Inc.
TSX : WEF

Western Forest Products Inc.

October 15, 2007 21:42 ET

Western Forest Products Receives Confirmation that Tentative Agreement Reached with the United Steelworkers to End Strike

DUNCAN, BRITISH COLUMBIA--(Marketwire - Oct. 15, 2007) - Western Forest Products Inc. (TSX:WEF) ("Western") today announced that Forest Industrial Relations Ltd., the association bargaining on behalf of 31 coastal forestry companies including Western, has reached a tentative agreement with the United Steelworkers Union on a new three year contract. The agreement is subject to ratification by the Union members which vote is expected to be held in the next week. Details of the new agreement are expected to be released during the ratification process. The strike action commenced on July 21, 2007 and affected most of Western's timberlands and manufacturing operations.

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 7.5 million cubic metres of timber of which 7.3 million cubic metres is from Crown lands and 0.2 million cubic metres from private timberlands and lumber capacity in excess of 1.5 billion board feet from eight sawmills and four remanufacturing plants. Principal activities conducted by the Company and its subsidiaries 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 20 countries worldwide.

Forward Looking Statements and Information

This press release contains forward-looking statements and forward-looking information within the meaning of applicable securities law. Those statements and information include statements or information regarding the intent, belief or current expectations of Western as it relates to the tentative agreement with the Steelworkers Union. Such statements or information may be indicated by words such as "approximately", "achieving", "estimated", "expect", "anticipate", "plan", "intend", "believe", "will", "should", "may" and similar words and phrases. Readers are cautioned that any such forward-looking statements or information are not guarantees and may involve known and unknown risks and uncertainties, and that the actual results may differ from those expressed or implied in the forward-looking statements or information as a result of various factors including, changes in government regulation, and misjudgements in the course of preparing forward-looking statements or information. The information contained under the "Risk Factors" section of Western's Annual Information Form and under the "Risks and Uncertainties" section of Western's Management's Discussion and Analysis identifies important factors that could cause such differences. All written and oral forward-looking statements or information attributable to Western or persons acting on behalf of Western are expressly qualified in their entirety by the foregoing cautionary statements. Western does not expect to update forward-looking statements or information as conditions change.

Contact Information

  • Western Forest Products Inc.
    Reynold Hert
    President & CEO
    (250) 715-2207
    or
    Western Forest Products Inc.
    Gary Ley
    (604) 787-5467
    Website: www.westernforest.com