VANCOUVER, BRITISH COLUMBIA - Western Forest Products Inc. (TSX:WEF) ("Western" or the "Company") announces that it has completed the sale of its former pulp mill site to Woodfibre LNG Limited at a purchase price of $21.8 million. The sale, which was previously announced on January 28, 2013, includes 212 acres of industrial waterfront land located at the head of Howe Sound, southwest of Squamish, British Columbia, and all associated foreshore leases, water licenses and permits. The Company intends to use the proceeds of sale to pay down outstanding debt and to further its strategic capital plans.
About Western Forest Products Inc.
Western is an integrated Canadian forest products company, and is the largest coastal British Columbia woodland operator and lumber producer. The Company has an annual available harvest of approximately 6.4 million cubic metres of timber, of which approximately 6.2 million cubic metres is from Crown lands. Western has a lumber capacity in excess of 1.1 billion board feet from seven sawmills and two remanufacturing plants. Principal activities conducted by the Company include timber harvesting, reforestation, sawmilling logs into lumber and wood chips, and value-added remanufacturing. Substantially all of Western's operations, employees and corporate facilities are located in the coastal region of British Columbia, while its products are sold in more than 25 countries worldwide.
Source: Western Forest Products Inc.
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