Western Forest Products Completes Acquisition
Vancouver, British Columbia, Canada 17 January 2018 -- Western Forest Products Inc. (TSX: WEF) ("Western" or the "Company") today announced the completion of its acquisition of Hampton Lumber Mills-Washington, Inc.'s distribution and processing centre located in Arlington, Washington for USD $9 million.
"We are pleased to complete this acquisition, which is aligned with our strategy of increasing the production of targeted, specialty products while providing more effective service to our selected U.S. customers," said Don Demens, President and CEO of Western. "We look forward to developing a strong presence in the local community as we leverage these assets to build value for our shareholders."
The 18 acre Arlington operation has 170,000 square feet of covered storage with rail access and is ideally situated in close proximity to Western's major U.S. markets. The Company will use the site as a centralized specialty products distribution centre while implementing capital upgrades to the kilns, planer and other processing facilities.
About Western Forest Products Inc.
Western is an integrated Canadian forest products company and is the largest coastal British Columbia woodland operator and lumber producer. The Company has an annual available harvest of approximately 6.1 million cubic metres of timber, of which approximately 5.9 million cubic metres is from Crown lands. Western has a lumber capacity in excess of 1.1 billion board feet from seven sawmills. Principal activities conducted by the Company include timber harvesting, reforestation, sawmilling logs into lumber and wood chips, and value added remanufacturing. Substantially all of Western's operations, employees and corporate facilities are located on the coast of British Columbia and Washington State, with sales worldwide.
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