West Fraser Announced Completion of Acquisition of Norbord Assets

SEATTLE (Scrap Monster): West Fraser Timber Co. Ltd. and Norbord Inc. issued a joint statement announcing the successful completion of the previously declared transaction, whereby West Fraser has acquired all of the issued and outstanding common shares of Norbord. The joint press statement noted that the holders of Norbord shares received 0.675 of a common share of West Fraser for each Norbord share held.

Further to the transaction, Raymond Ferris will continue as the President and CEO. Also, Chris Virostek will continue as the Vice-President, Finance and CFO. The press release also announced appointment of Peter Wijnbergen, the President and CEO of Norbord as the President, Engineered Wood and Sean McLaren, Vice-President, U.S. Lumber as the President, Solid Wood. Also, directors of Norbord, Marian Lawson and Colleen McMorrow have been appointed to West Fraser’s Board of Directors.

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The New York Stock Exchange (NYSE) has already given approval for listing of West Fraser shares on the exchange under the stock symbol “WFG” effective today. Simultaneously, Norbord shares have been delisted from NYSE. Also, West Fraser’s stock symbol on the Toronto Stock Exchange (TSX) has been changed to “WFG”.

Raymond Ferris, President and CEO, West Fraser said that the combination of two top-calibre employee teams marks a new era in the history of the company.