West Fraser Timber Co. Ltd.

West Fraser Timber Co. Ltd.

March 02, 2009 18:46 ET

West Fraser Timber Co. Ltd. ("WFT"): West Fraser to Further Reduce Lumber Production

VANCOUVER, BRTISH COLUMBIA--(Marketwire - March 2, 2009) - West Fraser (TSX:WFT) today announced additional lumber production curtailments in response to continuing extremely weak demand.

West Fraser intends to implement market-related curtailments at seven of its B.C. sawmills. Curtailments will be implemented by shutdowns at the seven facilities ranging from one to two weeks in length commencing March 16, 2009. Total production curtailed is expected to be approximately 44 million board feet. A total of 1,160 employees will be affected by these curtailments. These curtailments are in addition to production currently curtailed at the Company's Canadian facilities of approximately 1,120 million board feet on an annualized basis.

These curtailments reflect the continuing weakening of demand as the severe downturn of the U.S. housing market continues.

This News Release contains certain statements about potential future developments. 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. 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.

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.
    Gerry Miller
    Executive Vice-President,
    Finance and Chief Financial Officer
    (604) 895-2700
    West Fraser Timber Co. Ltd.
    Rodger Hutchinson
    Vice-President, Corporate Controller
    (604) 895-2700
    (604) 681-6061 (FAX)
    Website: www.westfraser.com