Prince George, BC – West Fraser Timber is reporting a strong finish to the year, thanks to the improving US Housing market.

The Company has announced earnings of $22-million dollars, or $0.51 per share, for the fourth quarter of 2012 and overall earnings for the year of $87-million dollars ($2.02 per share) on sales of $3-billion dollars.  The 2012 figures are up over 2011, which saw 4Q earnings of just $6-million dollars and $73-million for the year.

"In the second half of 2012, we saw encouraging signs that the US housing market is recovering," said Hank Ketchum, West Fraser’s Chair and CEO.  "This has led to (a) gradual improvement of results from our building product operations."

Ketchum says the company is approaching 2013 with ‘guarded optimism’ that the long-awaited US housing recovery is taking hold.

As part of West Fraser’s ongoing leadership succession process, Ketchum will assume the role of Executive Chair on March 1st, while Ted Seraphim will be appointed President and Chief Executive Officer.  Seraphim is currently the company’s President and Chief Operating Officer.