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Western Forest Products Completes Acquisition of Distribution and Processing Centre in Arlington, Washington

VANCOUVER, British Columbia, Jan. 17, 2018 (GLOBE NEWSWIRE) -- Western Forest Products Inc. (TSX:WEF) (“Western” or the “Company") today announced the completion of its acquisition of Hampton Lumber Mills-Washington, Inc.’s distribution and processing centre located in Arlington, Washington for USD $9 million.

“We are pleased to complete this acquisition, which is aligned with our strategy of increasing the production of targeted, specialty products while providing more effective service to our selected U.S. customers,” said Don Demens, President and CEO of Western. “We look forward to developing a strong presence in the local community as we leverage these assets to build value for our shareholders.”

The 18 acre Arlington operation has 170,000 square feet of covered storage with rail access and is ideally situated in close proximity to Western’s major U.S. markets. The Company will use the site as a centralized specialty products distribution centre while implementing capital upgrades to the kilns, planer and other processing facilities.

About Western Forest Products Inc.

Western is an integrated Canadian forest products company and is the largest coastal British Columbia woodland operator and lumber producer. The Company has an annual available harvest of approximately 6.1 million cubic metres of timber, of which approximately 5.9 million cubic metres is from Crown lands. Western has a lumber capacity in excess of 1.1 billion board feet from seven sawmills. Principal activities conducted by the Company include timber harvesting, reforestation, sawmilling logs into lumber and wood chips, and value added remanufacturing. Substantially all of Western’s operations, employees and corporate facilities are located on the coast of British Columbia and Washington State, with sales worldwide.

/EIN News/ -- Media Inquiries:
Babita Khunkhun
Senior Director, Communications
(604) 220-4923

Investor Inquiries:
Stephen Williams
Senior Vice President & Chief Financial Officer
(604) 648-4500

Forward Looking Statements and Information

This press release contains statements that may constitute forward-looking statements under the applicable securities laws. Readers are cautioned against placing undue reliance on forward-looking statements. Forward-looking statements can be identified by the use of words such as “anticipate” and similar references to future periods. Forward-looking statements in this press release include, but are not limited to, the anticipated timing and benefits of the transaction between the Company and Hampton Lumber. Although such statements reflect management’s current reasonable beliefs, expectations and assumptions, there can be no assurance that the proposed transaction will occur or that the anticipated strategic benefits will be realized in their entirety, in part or at all.  Many factors could cause our actual results or performance to be materially different, including the factors discussed in the company’s annual information form, which is available on the Company’s website at Forward-looking statements are based only on information currently available to us and refer only as of the date hereof. Except as required by law, we undertake no obligation to update forward-looking statements.

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