VANCOUVER, BC,
Nov. 12, 2010
(Market Wire) -
West Fraser will proceed with an energy efficiency upgrade of its Hinton Pulp pulp machine. The project, which is expected to cost approximately $37 million, will be funded with credits earned under the Canadian federal government's "Pulp and Paper Green Transformation Program".
The pulp machine upgrade will allow Hinton Pulp to produce more pulp with greater energy efficiency and produce additional energy. The additional energy will be enough to power approximately 720 average homes. The mill's natural gas consumption is expected to be reduced by more than 55,000 gigajoules per year and greenhouse gas emissions are expected to be reduced by more than 2,750 tonnes annually. As a result of this project and other initiatives, pulp production is expected to increase to 420,000 tonnes, returning the mill to levels achieved when the mill ran two production lines. The successful completion of this project is expected to be an important step for Hinton Pulp in improving its overall competitiveness and long-term outlook.
This News Release contains certain forward-looking statements about potential future developments, in particular those relating to the anticipated benefits from the Hinton Pulp machine energy efficiency project. These are presented to provide reasonable guidance to the reader. Their accuracy and the actual achievements of such benefits depend on and are subject to a number of assumptions, risks, and uncertainties and other factors. Accordingly, readers should exercise caution in relying upon forward-looking statements and West Fraser undertakes no obligation to publicly revise them to reflect subsequent events or circumstances except as required by applicable securities laws.
West Fraser is an integrated wood products company producing lumber, wood chips, LVL, MDF, plywood, pulp and newsprint. The Company has operations in western Canada and the southern United States.
West Fraser shares trade on the Toronto Stock Exchange under the symbol: "WFT".
