Welcome to our dedicated page for West Fraser Timb news (Ticker: WFG), a resource for investors and traders seeking the latest updates and insights on West Fraser Timb stock.
West Fraser Timber Co. Ltd. (WFG) is a diversified wood products company listed on the TSX and NYSE. Company news releases and regulatory filings provide regular updates on its lumber, engineered wood products, and pulp and paper operations across Canada, the United States, the United Kingdom and Europe. This news page aggregates those disclosures so readers can follow how market conditions, trade policies and operational decisions affect the business.
Recent West Fraser news has covered topics such as quarterly financial results, adjustments to lumber and OSB capacity, and guidance for shipment volumes in its Lumber, North America Engineered Wood Products and Europe Engineered Wood Products segments. The company also reports on capital expenditures, share repurchases under its normal course issuer bid, and dividends on its Common and Class B Common shares.
Operational announcements have included decisions to curtail or close specific lumber and OSB mills in response to timber supply challenges and soft demand, as well as asset and goodwill impairment charges related to these changes. Other releases discuss the impact of countervailing and antidumping duties on Canadian softwood lumber exports to the U.S., and the effect of Section 232 tariffs on imported softwood timber and lumber.
In addition to financial and capacity updates, West Fraser issues news about partnerships and forest stewardship initiatives, such as its collaboration with Lake Babine Nation Forestry Limited Partnership on a First Nations Woodland Licence in British Columbia. Investors and observers can use this news feed to review the company’s own descriptions of its operating environment, risk factors and strategic responses over time.
West Fraser Timber Co. Ltd. (WFG) has successfully completed the acquisition of Angelina Forest Products lumber mill in Lufkin, Texas, following the completion of U.S. regulatory review and satisfaction of closing conditions. This acquisition aligns with West Fraser's strategy to expand its market presence and enhance operational capabilities in the U.S. The company operates over 60 facilities worldwide, producing a range of wood products for various applications including construction and industrial uses.
West Fraser Timber Co. Ltd. (WFG) reported significant operational disruptions due to severe flooding in British Columbia. Weekly lumber shipments from western Canada have dropped by 25%-30%, while pulp shipments are at less than 20% of normal volumes. The company is using alternative transport routes but has reduced operating schedules at several locations, resulting in uncertain restoration timelines for transportation services. The next earnings release is scheduled for February 15, 2022, with no further updates expected before that date.
West Fraser Timber Co. Ltd. (WFG) reported strong third-quarter results for 2021, with sales reaching $2.358 billion and earnings of $460 million, equating to 20% of sales. Adjusted EBITDA stood at $786 million, or 33% of sales. The company repurchased $100 million of shares and completed a CAD$1.0 billion substantial issuer bid. Liquidity remained robust at $3.130 billion. Notably, West Fraser announced acquisitions of Angelina Forest Products for $300 million and Georgia Pacific's OSB mill for $280 million, enhancing its operational capacity.
West Fraser Timber Co. Ltd. (WFG) announced its agreement to acquire Georgia Pacific's OSB mill in Allendale, South Carolina for approximately $280 million. The mill, which has been idle since 2019, has a capacity of about 760 million square feet. West Fraser plans to invest $70 million to upgrade the facility, with a restart timeline of approximately nine months post-acquisition. The deal is expected to enhance West Fraser's production capabilities and operational flexibility, targeting growing demand in the southeastern U.S. for engineered wood products.
West Fraser Timber Co. Ltd. (WFG) has announced the acquisition of the Angelina Forest Products lumber mill in Lufkin, Texas, for approximately $300 million. The deal is subject to regulatory approvals and is expected to close soon. This facility, capable of producing 305 million board feet of southern yellow pine lumber annually, enhances West Fraser's U.S. operations and will lead to annual synergies of around $13 million within two years. The acquisition is anticipated to yield a mid-cycle Adjusted EBITDA multiple of 6.4x and an internal rate of return of 13%.
West Fraser Timber Co. Ltd. (WFG) will host an analysts' conference call on October 28, 2021, at 8:30 a.m. PT to discuss its third quarter 2021 financial and operational results. Interested participants can dial 1-888-390-0605 or 416-764-8609 to join the call. The results are set to be released the day prior, on October 27, 2021. West Fraser operates over 60 facilities across Canada, the US, the UK, and Europe, producing a variety of wood products used in construction and industrial applications.
West Fraser Timber has declared a quarterly dividend of C$0.25 per share, payable on October 5, 2021, to shareholders of record on September 23, 2021. The Company is adjusting output at various facilities due to wildfires in British Columbia and slowing orders, affecting production by 5%-10% in early Q3. These adjustments will persist through the quarter depending on external factors. A further operational update is expected with the Q3 earnings release on October 27.
West Fraser Timber Co. Ltd. (WFG) will host a virtual analyst and investor event on September 16, 2021, starting at 11:00 a.m. PT. This two-hour event will feature updates on strategic initiatives, Norbord integration, and sustainability efforts. Senior management will present and engage with participants during a Q&A session. Interested parties can register via West Fraser's official website. The company operates over 60 facilities across several regions, producing various wood products for construction and industrial needs.
West Fraser Timber Co. Ltd. (WFG) announced the completion of its substantial issuer bid (SIB), purchasing 10,309,278 common shares at C$97.00 each for a total of C$1.0 billion. This represents approximately 8.7% of total outstanding shares. The SIB was oversubscribed, with 13,708,784 shares tendered. Shareholders who submitted auction tenders at or below C$97.00 had about 91% of their shares accepted. Payment is expected around August 23, 2021. The entire amount of the deemed dividend from the share repurchase is designated an 'eligible dividend' for Canadian tax purposes.
West Fraser Timber Co. Ltd. (WFG) announced preliminary results from its substantial issuer bid (SIB) to buy back C$1 billion of its common shares. The SIB expired on August 17, 2021, with approximately 10.3 million shares expected to be purchased at C$97 each, totaling C$1 billion. The offer was oversubscribed, with about 13.7 million shares tendered, leading to a proration factor where successful auction tenders will see around 91% of their shares purchased. The SIB is expected to result in a deemed dividend of C$17.49 per share for tax purposes.