Western Forest Products Inc. Completes Sale of Port Alberni Properties
TSX: WEF
VANCOUVER, BC, Aug. 12, 2021 /PRNewswire/ - Western Forest Products Inc. (TSX: WEF) ("Western" or the "Company") announced today that it has completed the sale of certain properties, including the Somass sawmill site, to the City of Port Alberni for $5.3 million.
"We are pleased to have worked in collaboration with the City of Port Alberni to reach a negotiated agreement that will support their long-term strategic plan," said Don Demens, President and Chief Executive Officer.
With the completion of the sale, the Company has announced the permanent closure of its Somass sawmill. The sawmill was indefinitely curtailed in July 2017 in response to the lack of log supply to operate the mill efficiently.
About Western Forest Products Inc.
Western is an integrated forest products company building a margin-focused log and lumber business to compete successfully in global softwood markets. With operations and employees located primarily on the coast of British Columbia and Washington State, Western is a premier supplier of high-value, specialty forest products to worldwide markets. Western has a lumber capacity in excess of 1.0 billion board feet from seven sawmills and four remanufacturing facilities. The Company sources timber from its private lands, long-term licenses, First Nations arrangements, and market purchases. Western supplements its production through a wholesale program providing customers with a comprehensive range of specialty products.
SOURCE Western Forest Products Inc.
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