West Fraser Timber Co (TSE:WFG) has released an update.
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West Fraser Timber Co. has announced an indefinite curtailment of operations at its Lake Butler sawmill in Florida due to high fiber costs and a downturn in the lumber market, affecting around 130 employees and cutting U.S. lumber capacity by 110 million board feet. The company plans to offer affected employees opportunities at its other locations and anticipates an impairment charge in the third quarter of 2024. This strategic move aims to align the company’s lumber production with current market demand.
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