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or Name
USA
CA



West Fraser Timber Co Ltd
Symbol WFT
Shares Issued 75,883,759
Close 2017-05-19 C$ 60.00
Market Cap C$ 4,553,025,540
Recent Sedar Documents

Globe says Canfor, rivals hear loan guarantees mulled

2017-05-23 06:53 ET - In the News

See In the News (C-CFP) Canfor Corp

The Globe and Mail reports in its Monday edition that Natural Resources Minister Jim Carr last week mentioned loan guarantees to help the softwood industry, which some fear the United States will see as subsidies and will simply hike the tariffs more. A Canadian Press dispatch to The Globe reports that White River Forest boss Frank Dottori said Friday, "We want a loan guarantee." He says the idea of loan guarantees as a subsidy has been debated and reviewed by international trade panels and rejected. Still, the last time Canada and the U.S. engaged in a softwood battle, the $1.5-billion aid package, including loan guarantees, was immediately called a new subsidy by the U.S. trade representative. In the end, it did not matter then because the U.S. and Canada were already most of the way finished negotiating a settlement on softwood that was finalized just four months after the package was offered. Mr. Dottori says his company is paying $500,000 a month in duties, a punishing amount he can withstand only because the market is incredibly hot and the Canadian dollar is low. He says a loan guarantee will help his company keep people working until Canada and the U.S. get a new deal.

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