West Fraser Timber Co. Ltd.
TSX : WFT

West Fraser Timber Co. Ltd.

September 15, 2008 20:43 ET

West Fraser to Acquire Stuart Lake Lumber

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Sept. 15, 2008) - West Fraser (TSX:WFT) has entered into an agreement to acquire the shares of Stuart Lake Lumber Co. Ltd. which owns a sawmill in Fort St. James, BC and a forest license. The transaction is expected to close at the end of October.

The sawmill, which has been closed since Spring 2007, does not currently have any operational employees and the forest license has not been active since the mill closure. West Fraser has no immediate plans to start-up the sawmill.

"The Company will evaluate options over the next several months," says Wayne Clogg, West Fraser's Senior Vice-President, Woodlands. "We expect this acquisition to benefit West Fraser when the current market conditions improve and to enhance the Company's long-term fibre supply in the face of expected Mountain Pine Beetle-related supply effects."

West Fraser is an integrated wood products company producing lumber, LVL, MDF, plywood, pulp, linerboard, kraft paper and newsprint. The Company has approximately 9,000 employees and operations in western Canada and the southern United States. West Fraser shares trade on the Toronto Stock Exchange under the symbol: "WFT".

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