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West Fraser Timber Co. Ltd. (WFG) is a leading diversified wood products company with a global presence and over 60 manufacturing facilities located in Canada, the United States, the United Kingdom, and Europe. The company produces a wide array of wood products including lumber, engineered wood products (OSB, LVL, MDF, plywood, and particleboard), pulp, newsprint, wood chips, and other residuals, as well as renewable energy. West Fraser’s products are widely used in home construction, repair and remodeling, industrial applications, papers, tissue, and box materials.
Founded in 1955, West Fraser has grown significantly over the years, notably becoming one of the world's largest producers of oriented strand board (OSB) following its acquisition of Norbord in 2021. The company is known for its commitment to sustainability, sourcing materials from responsibly managed forest resources.
Recent milestones include the signing of an agreement to sell its Quesnel River Pulp mill in Quesnel, British Columbia and Slave Lake Pulp mill in Slave Lake, Alberta to Atlas Holdings, a transaction valued at US$120 million. This strategic move aims to enable West Fraser to focus on its core objective of being the premier wood building products company in North America.
Financially, West Fraser has shown resilience in the face of market challenges. For the third quarter of 2023, the company reported sales of $1.705 billion and earnings of $159 million, reflecting a strategic focus on operational excellence and sustainability initiatives. Despite a challenging demand market, particularly in the Lumber segment, the North American engineered wood products (EWP) business saw its best results in several quarters.
In 2024, West Fraser continues to optimize its portfolio, including the acquisition of Spray Lake Sawmills in Cochrane, Alberta, enhancing its footprint in the treated wood business. The company remains focused on long-term growth opportunities and maintaining a strong balance sheet to support future investments and innovation in its product lines.
West Fraser has been recognized for its corporate culture, being named one of Canada's 10 Most Admired Corporate Cultures in 2014 and one of Canada’s Top 100 Employers multiple times. The company continues to innovate and invest in modern, competitive manufacturing facilities, product innovation, and bioenergy, securing a bright future for its operations and stakeholders.
For more information about West Fraser and its latest developments, visit www.westfraser.com.
West Fraser Timber Co. Ltd. (WFG) announced a quarterly dividend of US$0.30 per share, scheduled for payment on October 7, 2022. Shareholders of record by September 22, 2022 will receive this dividend, which is classified as an eligible dividend under Canadian tax law. Shareholders can opt to receive dividends in either U.S. or Canadian dollars. West Fraser is a diversified wood products company operating over 60 facilities across Canada, the United States, the United Kingdom, and Europe, specializing in sustainably sourced wood products.
West Fraser Timber Co. Ltd. (WFG) announced permanent production curtailments of approximately 170 million board feet from its Fraser Lake and Williams Lake sawmills and 85 million square feet of plywood at its Quesnel mill. This decision will affect 77 positions at Fraser Lake, 15 positions at Williams Lake, and 55 positions at Quesnel, with changes implemented in Q4 2022. The curtailments aim to align production capacity with the challenges of timber accessibility and transportation issues in British Columbia.
West Fraser Timber Co. Ltd. (WFG) reported Q2 2022 results revealing sales of $2.887 billion and earnings of $762 million or $7.59 per diluted share. Adjusted EBITDA was $1.124 billion, 39% of sales. The company returned $1.475 billion to shareholders through buybacks and dividends. Challenges included transportation issues and inflationary pressures, but demand for wood products remains robust. Forecasts suggest SPF lumber shipments may be lower than projected, while OSB shipments are slightly down. Capital expenditures are expected to be near $500 to $600 million.
West Fraser Timber Co. Ltd. (WFG) issued a statement addressing recent market speculation about potential transactions involving the company. While they have met with existing shareholder Kronospan and CVC Capital Partners, they confirmed that no proposals have been received and no discussions are ongoing. The company remains committed to its business strategy focused on enhancing shareholder value.
West Fraser operates over 60 facilities across Canada, the U.S., U.K., and Europe, producing a diverse range of wood products.
West Fraser Timber Co. Ltd. (WFG) will host a conference call on July 28, 2022, at 8:30 a.m. PT to discuss its second quarter 2022 financial results. Interested participants can join by calling 1-888-390-0605 or (416) 764-8609, or via the webcast. The financial results will be available on July 27, 2022. West Fraser operates over 60 facilities across Canada, the U.S., U.K., and Europe, producing various wood products, pulp, and renewable energy.
West Fraser Timber Co. Ltd. (WFG) has declared a quarterly dividend of US$0.30 per share, up from US$0.25, effective July 8, 2022, to shareholders on record by June 22, 2022. This increase reflects a commitment to returning capital to investors amidst a reduced share count due to recent issuer bids. The company emphasizes the sustainability of its dividend strategy as key to capital allocation. Dividends can be taken in Canadian dollars, and details can be found on their website.
West Fraser Timber Co. Ltd. (WFG) completed its substantial issuer bid, purchasing 11,898,205 common shares at US$95.00 each, totaling approximately US$1.130 billion. This represents about 11.7% of its outstanding shares. Following this buyback, West Fraser now has 87,473,547 common shares and 2,281,478 Class B shares outstanding. Since acquiring Norbord in February 2021, the company has repurchased 33,542,183 shares for a total of approximately US$2.812 billion. This reflects West Fraser's commitment to returning capital to shareholders while maintaining financial flexibility.
West Fraser Timber Co. Ltd. (TSX: WFG, NYSE: WFG) announced the preliminary results of its substantial issuer bid, offering to repurchase up to US$1.25 billion of common shares. The bid expired on June 2, 2022, with preliminary calculations indicating that approximately 11.898 million shares will be purchased at about US$95 each, totaling approximately US$1.130 billion. All shareholders who participated in the auction tenders and purchase price tenders are expected to have their shares purchased. The repurchase may have Canadian tax implications as a deemed dividend.
West Fraser Timber reported Q1 2022 sales of $3.110 billion and net earnings of $1,090 million ($10.25 per diluted share), marking significant growth from Q4 2021. Adjusted EBITDA also surged to $1.592 billion, representing 51% of sales. Although transportation challenges impacted supply, strong product demand mitigated these issues. The company increased its dividend to $0.25 per share and launched a substantial issuer bid of up to $1.25 billion for share repurchase. Concerns about rising interest rates could affect housing demand in North America.
On April 20, 2022, West Fraser Timber Co. Ltd. (WFG) held its Annual General and Special Meeting in Quesnel, BC, where 79.68% of shares were voted. Shareholders approved the election of all director nominees with strong support. Hank Ketcham and Reid E. Carter received 97.10% and 98.12% of votes in favor, respectively. Other key approvals included appointing PricewaterhouseCoopers LLP as the auditor and a corporate Articles amendment with 99.37% support. The Company continues to focus on diversified wood products across various markets.
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