Vancouver, B.C. – West Fraser Timber Co. Ltd. announced today that, further to its news release of July 26, 2017, the United States Federal Trade Commission (the “FTC”) has granted early termination of the applicable waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976 (the “HSR Act”) with respect to West Fraser’s proposed acquisition of six sawmills and a finger-joint mill from the Howard Gilman Foundation and other shareholders. This ends antitrust review of the proposed transaction by the FTC and the United States Department of Justice, as required under the HSR Act. The transaction, which is subject to other customary conditions, is expected to close before quarter end.
West Fraser is a diversified wood products company producing lumber, LVL, MDF, plywood, pulp, newsprint, wood chips and energy with facilities in western Canada and the southern United States.
This release contains historical information, descriptions of current circumstances and statements about potential future developments including a statement regarding the anticipated timing of the transaction between the Company and the Howard Gilman Foundation and other shareholders. The latter, which is a forward-looking statement, is presented to provide reasonable guidance to the reader but its accuracy depends on a number of assumptions and is subject to various risks and uncertainties. Actual outcomes and results will depend on a number of factors that could affect the ability of the Company to execute its business plans, including those matters described in the 2016 annual Management’s Discussion & Analysis under “Risks and Uncertainties”, and may differ materially from those anticipated or projected. Accordingly, readers should exercise caution in relying upon forward-looking statements and the Company undertakes no obligation to publicly revise them to reflect subsequent events or circumstances, except as required by applicable securities laws.
West Fraser shares trade on the Toronto Stock Exchange under the symbol: “WFT”.
For more information:
Chris Virostek, Vice-President, Finance and Chief Financial Officer
Rodger Hutchinson, Vice-President, Corporate Controller and Investor Relations