Western Forest Products Inc.,(WFP) announced on Tuesday (7-6-22), capital investments totaling approximately $29 million (CAD) in its British Columbia operations. According to WFP the investments are part of its ongoing commitment to support value-added manufacturing on the B.C. Coast and grow its value-added wood products business, while at the same time continuing to improve WFP long-term competitiveness. These capital investments represent an increase of $13 million over and above the $ 16 million of capital investment discussed in its Q1 2022 Management’s Discussion and Analysis.
According to the WFP press release the investments are underway and should be completed by 2023. They include:
• $12.3 million in a new continuous kiln at the Saltair sawmill in Ladysmith, B.C., allowing for increased capacity for continuous drying of lumber, while reducing energy consumption.
• $7.9 million at the Duke Point facility in Nanaimo, B.C., to optimize the centralized planer facility with new equipment, including a machine stress rated (“MSR”) lumber grading machine.
• $8.3 million in other capital investments in the Company’s B.C. operations, including new kiln control systems at the Saltair sawmill and our Value-Added Division in Chemainus, B.C. to increase supply of kiln dried finished products for customers.
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WESTERN FOREST PRODUCTS CONTINUES TO DEMONSTRATE ITS COMMITMENT TO VALUE-ADDED MANUFACTURING WITH $29 MILLION INVESTMENT TOWARDS B.C. OPERATIONS