B.C.-based forest company West Fraser has announced capital spending of $125 million in the next 18 months to expand and upgrade its solid wood plants in the B.C. Interior, Alberta and U.S. South.
West Fraser has extensive operations in northern B.C., including in Houston, Fraser Lake, Chetwynd and Quesnel, which is its operational headquarters.
The company had held its capital spending to a minimum during an extended forestry downturn, which was led by a collapse in U.S. housing.
In the first half of 2009, the company lost $122 million, however, it has had a profit of $83 million in the first half of this year.
"As a result of our strong balance sheet we are able to begin making significant capital improvements to our facilities to keep them at the forefront of technology and efficiency," said West Fraser chairman, president and CEO Hank Ketcham.
