15:15:09 EDT Thu 25 Apr 2024
Enter Symbol
or Name
USA
CA



West Fraser Timber Co Ltd
Symbol WFT
Shares Issued 81,246,856
Close 2015-04-24 C$ 64.65
Market Cap C$ 5,252,609,240
Recent Sedar Documents

Van Sun says West Fraser, others see U.S. deal fading

2015-04-27 09:42 ET - In the News

Also In the News (C-CFP) Canfor Corp
Also In the News (C-IFP) Interfor Corp
Also In the News (C-WEF) Western Forest Products Inc

The Vancouver Sun reports in its Saturday edition lumber producers fear the softwood lumber agreement with the United States will be allowed to expire in October, ending nine years of stability. A Canadian Press dispatch to The Sun quotes West Fraser Timber as saying in its first-quarter report, "As the period leading up to the softwood lumber agreement's expiry narrows, the likelihood of an extension or replacement occurring is reduced." Industry analysts agree, with one describing the chances of a renewal this year as "slim to none." CIBC analyst Mark Kennedy said, "I just think both sides are just too far apart and they're just not going to get it done by October." An expiry would trigger a one-year standstill period when both countries are barred from taking unilateral action. Softwood lumber duties are expected to increase to their highest level in nearly two years this summer. Paul Quinn of RBC Capital Markets said the U.S. government is focused on the Trans-Pacific Partnership agreement and has yet to turn its sights on Canadian lumber. A spokesman for Canada's Department of Foreign Affairs said the government has told the Americans that it prefers to renew the current deal.

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