West Fraser Timber Co. Announces It Will Indefinitely Curtail Its Sawmill In Lake Butler, Florida By The End Of This Month, As A Result Of High Fiber Costs And Soft Lumber Markets
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West Fraser Timber Co. Ltd. (NYSE:WFG) will indefinitely curtail its sawmill in Lake Butler, Florida, due to high fiber costs and soft lumber markets. This decision will impact 130 employees and reduce U.S. lumber capacity by 110 million board feet. An impairment charge is expected in Q3 2024.
September 19, 2024 | 9:05 pm
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West Fraser Timber Co. Ltd. is indefinitely curtailing its Lake Butler sawmill due to high fiber costs and soft lumber markets, impacting 130 employees and reducing U.S. lumber capacity by 110 million board feet. An impairment charge is expected in Q3 2024.
The curtailment of the sawmill indicates operational challenges due to high costs and weak market conditions, which could negatively impact West Fraser's financial performance. The expected impairment charge further suggests financial strain.
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