Monday, September 11, 2023
West Fraser Timber Co. Ltd. (“West Fraser” or the “Company”) has decided to expand its spread with the acquisition of Spray Lake Sawmills located in Cochrane, Alberta. The company has entered into an agreement to proceed with the acquisition while the transaction is anticipated to close later this year following the completion of Canadian regulatory reviews and satisfaction of customary conditions.
The West Fraser family is excited to welcome the Spray Lake Sawmills. Rendering his views about the prospective acquisition, Ray Ferris, President & CEO West Fraser said, “Spray Lake Sawmills has an experienced, dedicated group of employees who we will look to further the legacy of this proud mill. With its solid safety performance, and focus on sustainability and community, the mill is an ideal fit for West Fraser.”
This empowering CDN$140 million acquisition enables West Fraser to grow and develop footprint in Southern Alberta while expanding its Canadian treated wood business. This move by the company aims to increases the access to a high-quality timber supply. Spray Lake Sawmills produces treated wood products, dimensional lumber and a wide variety of innovative wood residuals and bi-products. It has an annual lumber capacity of 155 million board feet and holds two Forest Management Agreements granted by the Government of Alberta with a total Annual Allowable Cut of approximately 500,000 m3. West Fraser is looking forward to the acquisition to develop and grow to a better size to spread its business further.
Tags: west fraser, West Fraser Timber Co. Ltd, wood, wood and panel, woodworking, woodworking and manufacturing, woodworking industry, woodworking USA
