West Fraser Timber Co. Ltd. /quotes/comstock/11t!wft (CA:WFT 38.00, 0.00, 0.00%) announced today that, following an extended period of regulatory review, it has completed the purchase from Weyerhaeuser Company Limited of Tree Farm Licence 35 and Forest Licence A18694, and certain related assets, having an aggregate Annual Allowable Cut of approximately 682,000 cubic metres per year, which includes a temporary uplift under Tree Farm Licence 35 of approximately 200,000 cubic metres in response to the effects of the Mountain Pine Beetle.
These tenures, which are located in the Kamloops Timber Supply Area, will increase West Fraser's long-term timber supply and are expected to help offset anticipated declines in future timber supply as a result of the current Mountain Pine Beetle infestation. The acquisition is expected to benefit West Fraser's operations in 100 Mile House, Chasm and Williams Lake, B.C.
This News Release contains certain forward-looking statements about potential future developments, in particular those relating to the anticipated benefits from the tenures. These are presented to provide reasonable guidance to the reader. Their accuracy and the actual achievement of such benefits depend on and are subject to a number of assumptions, risks and uncertainties and other factors. Accordingly, readers should exercise caution in relying upon forward-looking statements and West Fraser undertakes no obligation to publicly revise them to reflect subsequent events or circumstances except as required by applicable securities laws.