Western Forest Products Inc.

Western Forest Products Inc.

November 13, 2014 19:14 ET

Western Forest Products Announces Board of Director Changes

VANCOUVER, BRITISH COLUMBIA--(Marketwired - Nov. 13, 2014) - Western Forest Products Inc. (TSX:WEF) ("Western" or the "Company") announced today that Pierre McNeil and Peter Gordon, representatives of the Company's former majority shareholder Brookfield Special Situations, resigned from Western's Board of Directors following today's Board meeting. Mr. McNeil had served as a director since December 2007, while Mr. Gordon had served as a director since July 2010, as well as a period from July 2004 to June 2006.

"On behalf of the Board, we would like to thank Mr. McNeil and Mr. Gordon for their significant contributions to the Company," said Lee Doney, Chairman of Western Forest Products Inc.

The Board of Directors is pleased to announce the appointment of Mike Waites to the Board. Mr. Waites is the past President and CEO of Finning International Inc. and currently serves as a director of HudBay Minerals Inc., and Talisman Energy Inc. Mr. Waites brings more than 30 years of international experience in the natural resource, transportation, and distribution industries. He has extensive expertise in financial management, leadership, and acquisitions.

Western Forest Products Inc.

Western is an integrated Canadian forest products company, and is the largest coastal British Columbia woodland operator and lumber producer. The Company has an annual available harvest of approximately 6.4 million cubic metres of timber, of which approximately 6.2 million cubic metres is from Crown lands. Western has a lumber capacity in excess of 1.1 billion board feet from eight sawmills and two remanufacturing plants. Principal activities conducted by the Company 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 more than 25 countries worldwide.

Forward-Looking Statements and Information

This press release contains statements which constitute forward-looking statements and forward-looking information within the meaning of applicable securities laws. Those statements and information appear in a number of places in this document and include statements and information regarding our current intent, belief or expectations primarily with respect to market and general economic conditions, future costs, expenditures, available harvest levels and our future operating performance, objectives and strategies. Such statements and information may be indicated by words such as "estimate", "expect", "anticipate", "plan", "intend", "believe", "should", "may" and similar words and phrases. Readers are cautioned that it would be unreasonable to rely on any such forward-looking statements and information as creating any legal rights, and that the statements and information are not guarantees and may involve known and unknown risks and uncertainties, and that actual results and objectives and strategies may differ or change from those expressed or implied in the forward-looking statements or information as a result of various factors. Such risks and uncertainties include, among others: general economic conditions, competition and selling prices, changes in foreign currency exchange rates, labour disruptions, natural disasters, relations with First Nations groups, changes in laws, regulations or public policy, misjudgments in the course of preparing forward-looking statements or information, changes in opportunities and other factors referenced under the "Risks and Uncertainties" section of our MD&A in our 2013 Annual Report dated February 20, 2014. All written and oral forward-looking statements or information attributable to us or persons acting on our behalf are expressly qualified in their entirety by the foregoing cautionary statements. Except as required by law, Western does not expect to update forward-looking statements or information as conditions change.

Contact Information

  • Western Forest Products Inc.
    Amy Spencer
    Director of Communications and Government Relations
    (604) 317-4150