West Fraser to Indefinitely Curtail Sawmill in Florida

Dow Jones09-20

By Stephen Nakrosis

West Fraser Timber said Thursday it will indefinitely curtail its sawmill in Lake Butler, Florida by the end of this month.

The decision will affect about 130 workers and will reduce U.S. lumber capacity by about 110 million board feet, the company said. West Fraser also said it will provide work opportunities for affected employees at other company operations.

The company said high fiber costs at the facility and the current low-price commodity environment impaired its ability to profitably operate the mill.

Due to the curtailment, the company expects to take an impairment charge in the third quarter.

Write to Stephen Nakrosis at stephen.nakrosis@wsj.com

(END) Dow Jones Newswires

September 19, 2024 17:43 ET (21:43 GMT)

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