15:08:56 EDT Sat 04 May 2024
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West Fraser Timber Co Ltd
Symbol WFT
Shares Issued 75,883,036
Close 2017-03-16 C$ 56.19
Market Cap C$ 4,263,867,793
Recent Sedar Documents

Globe says Canfor, rivals brace for new deal with U.S.

2017-03-17 07:01 ET - In the News

See In the News (C-CFP) Canfor Corp

The Globe and Mail reports in its Friday, March 17, edition that Canada's softwood lumber industry is carefully parsing every word from United States Trade Representative Robert Lighthizer. The Globe's Josh O'Kane writes that Mr. Lighthizer said in his Senate confirmation hearing this week that the recently expired softwood lumber agreement "really did not work the way it was supposed to work. We have to have a new [deal], either litigation or a new agreement that does work." Alberta Forest Products Association head Paul Whittaker pointed out that Mr. Lighthizer was unsurprisingly careful with his language, given his deep experience. Mr. Whittaker said: "He says he heard the concerns of the U.S. industry. ... But what I did not hear him say was if he agrees with, or buys, the U.S. industry argument." U.S. industry, led by the U.S. Lumber Coalition, has suggested for many years that Canadian lumber companies have a distinctly unfair advantage -- a subsidy, even -- because so much of their softwood comes from provincial land. This January, the United States International Trade Commission said it found "reasonable indication" that Canadian softwood imports have "materially injured" the U.S. sector.

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