West Fraser Timber To Close Sawmill In Fraser Lake, British Columbia

(RTTNews) - West Fraser Timber Co. Ltd. (WFG, WFG.TO) will permanently close its sawmill in Fraser Lake, British Columbia, following an orderly wind-down. The decision is the result of the company's inability to access economically viable fibre in the region, the company said in a statement on Monday.

The company noted that the closure of Sawmill will impact about 175 employees. It expects to mitigate the impact on affected employees by providing work opportunities at other West Fraser operations.

The company said the mill closure will reduce its Canadian lumber capacity by about 160 million board feet.

West Fraser anticipates recording restructuring and impairment charges of approximately $81 million in the fourth quarter of 2023 related to facility closures and curtailments due to availability of economic fibre sources in British Columbia.