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By Curtis Galbraith

Forestry Business

West Fraser reports first quarter profit, sale of two mills

Apr 24, 2024 | 6:01 AM

The company that owns the oriented strand board plant south of Grande Prairie is reporting a first quarter profit.

West Fraser says that it had earnings of $35 million in the first three months of this year and sales of $1.627 billion.

A release from the company says OSB was among the sectors to have a strong start to 2024.

It says strength from new home construction carried over from late 2023 and kept demand high.

West Fraser expects to continue over what it calls “the medium term” because of more stable inflation, lower interest rates and more people getting to the age where they want to buy a home.

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Sale of two mills announced

West Fraser says it is selling two mills to an affiliate of a fund managed by Atlas Holdings.

The sale includes two pulp mills, one located in Slave Lake, the other in Quesnel, B.C.

The mills would be managed by Millar Western.

West Fraser says in a release that the sale will be complete when a regulatory review is completed and closing conditions are met.