West Fraser to Cut Production at its Mills

The company will host a virtual analyst and investor event on Thursday, September 16.

SEATTLE (Scrap Monster): West Fraser Timber Co. Ltd. provided key operational update at its North American facilities.

The company announced reduced operating schedules at multiple locations. It anticipates reduced operating rates through the rest of the year, depending upon availability of labour on account of Covid-19 impacts, availability of raw materials, wildfire and weather conditions, log supply constraints and availability of transportation facilities.

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The above factors have forced the company to adjust its output at British Columbia SPF, US South SYP, North American OSB and Canadian plywood facilities by around 5-10% of the total available capacity over the initial two-month period of Q3 this year. The company press release stated that another update on operating conditions will be provided along with the release of the Q3 earnings scheduled for 27^th October, 2021.

The West Fraser Board of Directors declared a quarterly dividend of C$0.25 per share on the Common shares and Class B Common shares, which will be payable  on October 5, 2021 to shareholders of record on September 23, 2021.

The company will host a virtual analyst and investor event on Thursday, September 16. The event is scheduled to begin at 11:00 a.m. Pacific Time/2:00 p.m.

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