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West Fraser reports Q3 loss of $80M, announces indefinite curtailments of OSB and lumber mills
WFGWest Fraser Timber Co., Ltd
West Fraser Timber Co. reported a third-quarter loss of $80 million, or $1.02 per share, on sales of $1.36 billion. The company announced the indefinite curtailment of its Huguley OSB mill in Alabama and its Leola lumber mill in Arkansas due to weak demand for new home construction and repair products. These actions are expected to reduce annual OSB capacity by 500 million square feet and SYP capacity by 225 million board feet, with an anticipated asset impairment loss of $200 million to $220 million recorded in the fourth quarter. Additionally, West Fraser refinanced its existing $300 million term loan into a new $500 million facility maturing in September 2029. The company operates as a diversified wood products manufacturer producing lumber, engineered wood products, pulp, and paper across North America and Europe.