West Fraser Timber

West Fraser Timber Co. Ltd. is a Canadian forestry company that produces lumber, LVL, MDF, plywood, pulp, newsprint, and wood chips[2] based in Quesnel BC, Canada. West Fraser Timber Co. Ltd. is a member of the Forest Products Association of Canada.[3]

West Fraser Timber Co. Ltd.
TypePublic
TSX: WFG
NYSE: WFG
IndustryForestry
Founded1955 (1955) in Quesnel, British Columbia
HeadquartersQuesnel, British Columbia, Canada
Key people
Edward (Ted) Seraphim, President & CEO,
Henry (Hank) Ketcham, Chairman
ProductsForestry products
Revenue$4.877 billion CAN (2019) [1]
Number of employees
8,600 (2018)
Websitewww.westfraser.com

West Fraser Timber Co. Ltd. was twice recognized as one of Canada's Most Admired Corporate Cultures and five times as Canada's Top 100 Employers in 2017.[4] Also, the company was recently named for the fourth time as one of Canada's Top 100 Employers and Canada's Best Employer for Recent Graduates for 2018.

History

West Fraser was founded by three brothers from Seattle: Pete, Bill and Sam Ketcham in 1955. The three brothers decided to do business together and purchased a small planing mill in Quesnel, British Columbia. Over the years the company grew, "West Fraser has become the largest lumber manufacturer in North America with 8,600 employees globally – about 5,000 in Western Canada – at about 50 locations."[4]

In April 2020, it was revealed that Jim Pattison had upped his stake in West Fraser to 13.8% ownership, prompting speculation that the Canadian billionaire had plans to merge the company with Canfor, of which he owns 51%. In response, West Fraser adopted a shareholder rights plan or "poison pill" in order to defend against any attempts at a takeover.[5][6]

References
  1. https://www.newswire.ca/news-releases/west-fraser-announces-2019-annual-and-fourth-quarter-results-852238839.html
  2. Ltd, West Fraser Timber Co. "West Fraser Announces 2019 Annual and Fourth Quarter Results". www.newswire.ca. Retrieved 2020-04-10.
  3. "Our Members". FPAC | The Forest Products Association of Canada. Retrieved 2020-04-10.
  4. "WEST FRASER'S LUMBER LEGACY". Home. October 1, 2018.
  5. Jang, Brent (13 April 2020). "Jim Pattison boosts stake in West Fraser Timber prompting shareholder rights plan". The Canadian Press. Retrieved 4 October 2020.
  6. Bell, Andrew (13 April 2020). "West Fraser Timber poison pill stirs speculation about Pattison's role". BNN Bloomberg. Retrieved 4 October 2020.


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