01:05:25 EDT Fri 29 Mar 2024
Enter Symbol
or Name
USA
CA



West Fraser Timber Co Ltd
Symbol WFT
Shares Issued 75,886,806
Close 2017-09-15 C$ 67.61
Market Cap C$ 5,130,706,954
Recent Sedar Documents

Globe/CP say Canfor, rivals largely unharmed by duties

2017-09-18 08:57 ET - In the News

See In the News (C-CFP) Canfor Corp

The Globe and Mail reports in its Saturday edition that Natural Resources Minister Jim Carr says Canadian forest producers have been largely unharmed by the duties the United States imposed on softwood imports earlier this year. A Canadian Press dispatch to The Globe reports that Mr. Carr said the consensus at a meeting of federal and provincial forestry ministers on Friday was the financial hurt thus far is "not significant." Canadian producers have paid an estimated $500-million in countervailing and anti-dumping duties since the end of April but those costs are offset by historically high market prices for wood coupled with a low Canadian dollar and ever-increasing demand. In fact, the main people feeling the pinch are American consumers who are paying up to 20 per cent more for housing materials thanks to the duties. Initially it was felt big Canadian companies would be able to withstand the hit but smaller producers would be forced to lay people off or even close up entirely. That is not happening thus far, says Mr. Carr, as the best evidence of that is the fact that uptake on federal loans and loan guarantees to help producers weather the duties has been limited.

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