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The latest update is out from Western Forest Prod ( (TSE:WEF) ).
Western Forest Products has sold 14,500 hectares of land on northern Vancouver Island to Eastwood Climate Smart Forestry Fund for $69.2 million. This sale aligns with Western’s strategy to optimize its BC operations by reducing debt and investing in higher value product manufacturing. Eastwood aims to manage the land with a focus on sustainable forestry and climate change mitigation, while building relationships with local stakeholders to ensure positive ecological and economic impacts.
More about Western Forest Prod
Western Forest Products Inc. is an integrated forest products company specializing in high-value, specialty forest products to global softwood markets. With a significant presence on the coast of British Columbia and Washington State, the company operates six sawmills, four remanufacturing facilities, and two glulam manufacturing facilities, and sources timber from a variety of sources including private lands and First Nations arrangements.
YTD Price Performance: -13.48%
Average Trading Volume: 450,369
Technical Sentiment Consensus Rating: Buy
Current Market Cap: C$120.4M
For a thorough assessment of WEF stock, go to TipRanks’ Stock Analysis page.