CANADA (News release) -- West Fraser Timber Co. Ltd. announced that it has entered into an agreement to acquire Spray Lake Sawmills located in Cochrane, Alberta subject to certain post-closing adjustments. The transaction is anticipated to close later this year following completion of Canadian regulatory reviews and satisfaction of customary conditions.

Spray Lake Sawmills produces treated wood products, dimensional lumber and a variety of innovative wood residuals and biproducts. It has an annual lumber capacity of 155 million board feet and holds two Forest Management Agreements granted by the Government of Alberta with a total Annual Allowable Cut of approximately 500,000 m3.

"We are excited to welcome Spray Lake Sawmills to the West Fraser family," said Ray Ferris, President & CEO West Fraser. "Spray Lake Sawmills has an experienced, dedicated group of employees who we will look to further the legacy of this proud mill. With its solid safety performance, and focus on sustainability and community, the mill is an ideal fit for West Fraser."

The CDN$140 million acquisition enables West Fraser to grow its footprint in Southern Alberta and expand its Canadian treated wood business, while providing access to a high-quality timber supply.