West Fraser Timber Co. Ltd.

West Fraser Timber Co. Ltd.

August 04, 2011 17:13 ET

West Fraser ("WFT") Announced as Preferred Proponent for Two Phase II Bioenergy Projects

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Aug. 4, 2011) - West Fraser (TSX:WFT) confirmed today that it has been selected by B.C. Hydro as a preferred proponent for two projects under the Phase II Power Call. The projects, which represent approximately 180 GWh of power generation, are proposed to be constructed adjacent to the Company's sawmill operations in Fraser Lake and Chetwynd, B.C., respectively.

Hank Ketcham, West Fraser's Chairman, President and Chief Executive Officer, said "We are pleased with the two selections as they represent the successful completion of an important stage of the Phase II Power Call process. Our Bioenergy Group has worked very hard with B.C. Hydro to achieve this result." The final awarding of the projects is subject to the satisfaction of various conditions including West Fraser corporate approvals and the completion and signing of long-term energy purchase agreements.

This news release contains forward-looking statements relating to the satisfaction of conditions associated with the awarding of two bioenergy projects. These 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 which are also described under this heading. Actual outcomes and results will depend on a number of factors. 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, wood chips, LVL, MDF, plywood, pulp and newsprint. The Company has operations in western Canada and the southern United States.

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

Contact Information

  • West Fraser Timber Co. Ltd.
    Larry Hughes
    Vice President, Finance and CFO
    (604) 895-2700
    (604) 681-6061 (FAX)

    West Fraser Timber Co. Ltd.
    Peter Rippon
    Vice President, Pulp and Energy
    (250) 992-9244