West Fraser Timber Co. Ltd. ("West Fraser") has announced its agreement to acquire Spray Lake Sawmills, located in Cochrane, Alberta, subject to certain post-closing adjustments. The completion of this transaction is expected later this year, pending Canadian regulatory reviews and the fulfillment of standard conditions.

Spray Lake Sawmills specializes in the production of treated wood products, dimensional lumber, as well as various innovative wood residuals and byproducts. It boasts an annual lumber capacity of 155 million board feet and holds two Forest Management Agreements granted by the Government of Alberta, entailing a total Annual Allowable Cut of approximately 500,000 m3.

Ray Ferris, President & CEO of West Fraser, expressed enthusiasm, stating, "We are excited to welcome Spray Lake Sawmills to the West Fraser family. Spray Lake Sawmills has a team of experienced and dedicated employees, and we are committed to continuing the legacy of this esteemed mill. Given its strong safety track record, sustainability focus, and community involvement, the mill aligns perfectly with West Fraser's values."

This CDN$140 million acquisition marks a strategic move for West Fraser, enabling the company to expand its presence in Southern Alberta and enhance its Canadian treated wood business. Additionally, it grants access to a high-quality timber supply, strengthening the company's position in the industry.

 

Source:prnewswire.com

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