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$2.00 Your community newspaper since 1916
Thursday, May 13, 2021
PGCITIZEN.CA
PRINCEGEORGECITIZEN
EARNINGS UP AT WEST FRASER Glacier Media/CP
West Fraser Timber Co. Ltd. is reporting higher first-quarter sales and earnings on higher prices and production of lumber and building panels after completing its $4-billion all-stock takeover of NorbordInc. on Feb. 1.
PRINCE GEORGE HUMANE SOCIETY PHOTO
Major, a three-year-old bull mastiff surrendered to the Prince George Humane Society in February 2020, recovers from his knee surgery last summer. He’s since found a new home in Alberta.
Humane Society steps up for pets TED CLARKE
It was a Major accomplishment when the Prince George Humane Society found a new home for one its largest canine critters last summer, five months into the pandemic. Surrendered in February 2020 to the
shelter when his owner learned he could not afford his three-year-old pet’s knee surgery, it became a waiting game for the 120-pound bull mastiff named Major. Within a month of the big pooch’s arrival at the shelter, the COVID outbreak happened and veterinary services all of
a sudden became severely restricted by the lockdown that followed. Public health orders forced the shelter to close to the public temporarily, and with that closure the society’s adoption and fostering programs came to a standstill. See ‘WE STILL on page 2
The Vancouver-based company, which reports its financials in U.S. dollars, says earnings increased to US$665 million on $2.3 billion in sales in the first three months of 2021, up from earnings of $9 million on sales of $890 million in the same period of 2020. Earnings were also up from $282 million on sales of $1.29 billion in the fourth quarter of 2020. West Fraser says its lumber segment generated adjusted earnings before interest, taxes, depreciation and amortization of $646 million, up from $53 million in the year-earlier period, as higher commodity prices were partly offset by lower shipment volumes due to seasonal railcar shortages in Canada and extreme winter conditions in the U.S. South. Its engineered wood products segment, formed after the Norbordtakeover, had adjusted EBITDA of $353 million, compared with $6 million from its panels division in the first quarter of 2020, thanks to the addition of Norbordoriented strand board panel volumes and higher prices and demand for plywood. The company says the outlook for its building and panel products is robust and it plans to maximize its product capacity for the rest of this year, given ongoing high demand from residential home construction, repair and remodelling.
• Only 4 units left for sale and 5 for rent • YMCA Daycare construction starting soon • Future Phases in planning stages
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