NEWS RELEASE · 14th March 2011
West Fraser Timber Co. Ltd. ("WFT"): Rio Tinto to Purchase Eurocan Wharf
VANCOUVER, BRITISH COLUMBIA - West Fraser (TSX:WFT) today announced that it has entered into an agreement to sell its deep sea wharf and related assets to Rio Tinto Alcan. The sale, which is subject to obtaining certain government approvals for the transfer of related permits and licences, is expected to be completed later in 2011. The wharf formed part of West Fraser's Eurocan linerboard and kraft paper mill located in Kitimat, B.C. which was closed in January of 2010.
"We are pleased that this agreement will help to ensure that the wharf can continue to be a major economic generator for Kitimat and the northwest region," stated Hank Ketcham, West Fraser's Chairman, President and CEO.
West Fraser is an integrated wood products company producing lumber, wood chips, LVL, MDF, plywood, pulp and newsprint. The Company has operations in western Canada and the southern United States.
West Fraser shares trade on the Toronto Stock Exchange under the symbol: "WFT".