Canadian-based wood products company West Fraser will acquire the shares of Stuart Lake Lumber, which owns a sawmill in Fort St. James, British Colombia, and a forest license. The sawmill, which has been closed since spring 2007, does not currently have any operational employees, and the forest license has not been active since the mill closure. West Fraser has no immediate plans to start up the sawmill.
The transaction is expected to close at the end of October.
West Fraser will evaluate its options over the next several months, according to Wayne Clogg, senior vp. "We expect this acquisition to benefit West Fraser when the current market conditions improve and to enhance the company's long-term fiber supply in the face of expected Mountain Pine Beetle-related supply effects."
West Fraser has about 9,000 employees and operations in western Canada and the southern United States.