West Fraser Plans to Boost Capital Expenditures in 2011

Tuesday, December 21, 2010 03:58 AM

Prince George, B.C.- The confidence in the lumber industry is growing.

West Fraser’s Board of Directors has approved a $230 million dollar capital expenditure program for 2011. This is $105 million more than the $125 million approved in September 2010.

The bulk of the approved expenditures will be focused on West Fraser’s solid wood operations.

"Although our industry is still in a fairly fragile state, we believe that this is the time to focus on improving our current operations," said Hank Ketcham, West Fraser's Chairman, President and CEO.

These capital expenditures are in addition to the $88.5 million Canadian pulp mill capital improvements which will be funded by Green Transformation Program credits from the Canadian federal government.

Last week, Canfor announced it has plans to spend $120 million dollars on improvements to its sawmills and $25 million on maintenance next year.

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Posted on Tuesday, December 21, 2010 03:58 AM in News by 250 News

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Comments

Posted by: pgguru on December 21 2010 9:36 AM

good job westfraser,double canfors capital spending plan!!! lol!! but hope both companies spending this kind of capital in the past only means one thing ,each company will probably take out another mill,i really hope this is not the case.

Posted by: kolberg on December 21 2010 12:07 PM

Maybe they want to buy these capital items before the PST gets reintroduced.

Posted by: pgguru on December 21 2010 12:21 PM

kolberg,hst is here to stay forevet! is reality and it wont change