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) is set to hold a conference call on February 16, 2022, at 8:30 a.m. Pacific Time to discuss its fourth quarter 2021 financial and operating results. Interested participants can join by dialing 1-888-390-0605 or 416-764-8609, or through the webcast available on the company's website. The financial results will be released on February 15, 2022. West Fraser is a diversified wood products company, operating over 60 facilities across various regions including Canada and the U.S., focusing on sustainably sourced products.
West Fraser Timber Co. Ltd. (WFG) announced significant management changes to enhance operational effectiveness. Sean McLaren is promoted to Chief Operating Officer, while Kevin Burke transitions to Senior Vice-President of Wood Products. Keith Carter and Alan McMeekin also advance to Senior Vice-Presidents for Western Canada and Europe, respectively. CEO Ray Ferris expressed confidence in the leadership team's ability to drive success. These changes aim to strengthen management capacity as the company continues its diversified operations across multiple regions.
West Fraser Timber Co. Ltd. (WFG) has announced a quarterly dividend of US$0.20 per share on its Common and Class B Common shares. This dividend is payable on January 11, 2022, to shareholders recorded by December 28, 2021. As of October 27, 2021, dividends will be declared and payable in U.S. dollars, with shareholders having the option to receive them in Canadian dollars. The dividends qualify as eligible dividends under Canadian tax laws.
West Fraser Timber Co. Ltd. has successfully completed the acquisition of an oriented strand board (OSB) mill in Allendale, South Carolina, as announced on December 6, 2021. This acquisition is part of West Fraser's strategic expansion in the wood products market, enhancing its production capabilities. With over 60 facilities across Canada, the U.S., the U.K., and Europe, West Fraser produces a diverse range of wood products. The acquisition is expected to bolster the company's operational efficiency and market presence.
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.