VANCOUVER, BC, July 19,
2022 /CNW/ - West Fraser Timber Co. Ltd. ("West
Fraser" or the "Company") (TSX and NYSE: WFG) today issued the
following statement:
The Company is aware of recent market and media
speculation. Although the Company has previously met with
Kronospan, an existing shareholder, and CVC Capital Partners, the
Company has not received a proposal and there are no ongoing
discussions regarding the terms of any transaction. The
Company is focused on executing on its business strategy to create
shareholder value.
About West Fraser
West Fraser is a diversified wood products company with more
than 60 facilities in Canada,
the United States, the
United Kingdom, and Europe. From responsibly sourced and
sustainably managed forest resources, the Company produces lumber,
engineered wood products (OSB, LVL, MDF, plywood, and
particleboard), pulp, newsprint, wood chips, other residuals, and
renewable energy. West Fraser's products are used in home
construction, repair and remodelling, industrial applications,
papers, tissue, and box materials.
Forward-Looking Statements
This release contains certain statements and information
that do not relate to historical matters and constitute
forward-looking statements or forward-looking information within
the meaning of the U.S. Private Securities Litigation Reform Act of
1995 and Canadian securities laws (collectively, "forward-looking
statements") and may include statements and information relating to
expectations of West Fraser Timber Co. Ltd. (the "Company")
regarding the Company's strategy, plans, goals, objectives,
expectations and future operating performance; statements regarding
any proposal or any proposed transaction involving the Company
(there can be no assurance that any proposal comes forward to the
Company, and even if it does, there is no assurance that any
transaction would close); and statements regarding the Company's
expectations regarding the other matters set forth in this
release. You may identify these and other forward-looking
statements by the use of words such as "may", "plans",
"anticipates", "believes", "should", "estimates", "targets",
"expects", "intends", "potential" or the negative of such terms, or
other comparable terminology, although not all forward-looking
statements contain these identifying words. Forward-looking
statements represent the Company's views only as of the date they
are made and should not be relied upon as representing the
Company's views as of any subsequent date. Forward-looking
statements do not purport to be predictions of future events or
results and there can be no assurance that they will prove to be
accurate.
By their nature, these forward-looking statements involve
numerous assumptions, inherent risks and uncertainties, both
general and specific, which contribute to the possibility that the
predictions, forecasts, and other forward- looking statements will
not occur. In addition, actual outcomes and results of these
statements will depend on a number of factors including those
matters described under "Risks and Uncertainties" in our 2021
MD&A, as updated by the disclosures in our Q1 2022 MD&A, as
well as in our public filings with securities regulatory
authorities and may differ materially from those anticipated or
projected. Reference should be made to the other factors
discussed in public filings with securities regulatory authorities
for more information on these potential risks and
uncertainties. Shareholders may obtain copies of the
Company's filings and other publicly filed documents without charge
from the SEC's website at www.sec.gov or
from SEDAR's website at
www.sedar.com.
Readers should exercise caution in relying upon
forward-looking statements and we undertake no obligation to
publicly update or revise any forward-looking statements, whether
written or oral, to reflect subsequent events or circumstances
except as required by applicable securities laws.
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SOURCE West Fraser Timber Co. Ltd.