West Fraser Timber
Canadian forestry company
From Wikipedia, the free encyclopedia
West Fraser Timber Co. Ltd., commonly known as "West Fraser", is a Canadian forestry company that produces lumber, laminated veneer lumber (LVL), medium-density fibreboard (MDF), oriented strand board (OSB), plywood, pulp, newsprint, and wood chips.[2] Based in Vancouver, British Columbia, the company is a member of the Forest Products Association of Canada.[3] As of 2023[update], West Fraser had been recognized eight times as one of Canada's Top 100 Employers.[4]
| |
 A railcar loaded with West Fraser lumber | |
| Company type | Public |
|---|---|
| TSX: WFG NYSE: WFG | |
| Industry | Forestry |
| Founded | 1955 in Quesnel, British Columbia |
| Headquarters | Vancouver, British Columbia, Canada |
Key people | Sean McLaren, President & CEO Henry H. Ketcham, Chairman |
| Products | Diversified wood-based building materials |
| Revenue |  US$6.454 billion[1] (2023) |
| US$−284 millions[1] (2023) | |
| US$−167 millions[1] (2023) | |
| Total assets | US$9.415 billion[1] (2023) |
| Total equity | US$7.223 billion[1] (2023) |
Number of employees | 10,800 (2023)[1] |
| Website | www.westfraser.com |
History
West Fraser Timber was founded in 1955 by three brothers from Seattle: Samuel Kendall Ketcham, Henry Holman ("Pete") Ketcham Jr., and William Peters Ketcham.[5] Their father was Hank Ketcham, who played college football for the Yale Bulldogs and was inducted to the College Football Hall of Fame.[6]
The three brothers decided to do business together and purchased a small planing mill in Quesnel, British Columbia. Samual Ketcham served as president of the company until his death in November 1977 in a helicopter crash.[7] He was succeeded by Douglas Johnston,[8] and later by Chester Johnson. Henry H. Ketcham, son of "Pete" Ketcham, became president in 1985.[9] He led the company through an initial public offering in May 1986.[10] Later, Ketcham also became CEO and oversaw the company until 2012.[11] Ted Seraphim subsequently became president and then CEO,[12] until being succeeded by Raymond Ferris as president in April 2018 and CEO in June 2019.[13]
As of 2018, "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 Canadian business magnate Jim Pattison had upped his stake in West Fraser to 13.8% ownership, prompting speculation that the 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.[14][15]
Operations
The company's operations are divided into three major business segments:
- Lumber
- Engineered Wood Products (EWP)
- Pulp & Paper
