West Fraser Timber To Permanently Close Sawmill In Fraser Lake, British Columbia, Following An Orderly Wind-down; Decision Is Due To Inability To Access Economically Viable Fibre In The Region

Author: Benzinga Newsdesk | January 22, 2024 06:49pm

The closure of Fraser Lake Sawmill will impact approximately 175 employees. West Fraser expects to mitigate the impact on affected employees by providing work opportunities at other West Fraser operations. The mill closure will reduce West Fraser's Canadian lumber capacity by approximately 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.

Posted In: WFG