WFP Completed Sale of Curtailed Somass Sawmill

SEATTLE (Scrap Monster): Vancouver, B.C.-based Western Forest Products Inc. (WFP) announced that it has completed sale of certain Alberni properties, including the Somass sawmill site, to the City of Port Alberni. The transaction was valued at approximately $5.3 million.

The completion of sale marks the permanent closure of the sawmill, which was curtailed for an indefinite period in July 2017, following shortage of log supply. It must be noted that negotiations were going on between the City Council and the company for the past four years.

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The City hopes to sell off most of the 43-acre property, keeping the waterfront section and some portion of the parkland. The repurposing of waterfront lands was a main focus of the Council. The testing carried out by environmental consultants had pointed out that it may likely cost less than a million dollars to remediate the industrial lands.

Commenting on the development, Don Demens, President and Chief Executive Officer stated that the company is pleased to have worked in collaboration with the City of Port Alberni to reach a negotiated agreement. The sale of the assets is in line with its long-term strategic plan, he added.