Company:West Fraser Timber
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 A railcar loaded with West Fraser lumber | |
| Type | Public |
|---|---|
| TSX: WFG NYSE: WFG | |
| Industry | Forestry |
| Founded | 1955 in Quesnel, British Columbia |
| Headquarters | Vancouver, British Columbia, Canada |
Key people | Ray Ferris, President & CEO Henry H. Ketcham, Chairman |
| Products | Diversified wood-based building materials |
| Revenue | $10.518 billion USD (2021)[1] |
Number of employees | 10,625 (2021) |
| Website | www.westfraser.com |
West Fraser Timber Co. Ltd., commonly known as "West Fraser", is a Canadian forestry company that produces lumber, laminated veneer lumber (LVL), medium-density fibreboard (MDF), oriented strand board (OSB), plywood, pulp, newsprint, and wood chips.[2] Based in Vancouver , British Columbia, the company is a member of the Forest Products Association of Canada.[3] (As of 2023), West Fraser had been recognized eight times as one of Canada's Top 100 Employers.[4]
History
West Fraser Timber was founded in 1955 by three brothers from Seattle: Samuel Kendall Ketcham, Henry Holman ("Pete") Ketcham Jr., and William Peters Ketcham.[5] Their father was Hank Ketcham, who played college football for the Yale Bulldogs and was inducted to the College Football Hall of Fame.[6]
The three brothers decided to do business together and purchased a small planing mill in Quesnel, British Columbia. Samual Ketcham served as president of the company until his death in November 1977 in a helicopter crash.[7] He was succeeded by Douglas Johnston,[8] and later by Chester Johnson. Henry H. Ketcham, son of "Pete" Ketcham, became president in 1985.[9] He led the company through an initial public offering in May 1986.[10] Later, Ketcham also became CEO and oversaw the company until 2012.[11] Ted Seraphim subsequently became president and then CEO,[12] until being succeeded by Raymond Ferris as president in April 2018 and CEO in June 2019.[13]
As of 2018, "West Fraser has become the largest lumber manufacturer in North America with 8,600 employees globally – about 5,000 in Western Canada – at about 50 locations."[4]
In April 2020, it was revealed that Canadian business magnate Jim Pattison had upped his stake in West Fraser to 13.8% ownership, prompting speculation that the billionaire had plans to merge the company with Canfor, of which he owns 51%. In response, West Fraser adopted a shareholder rights plan or "poison pill" in order to defend against any attempts at a takeover.[14][15]
References
- ↑ "2021 Annual Report" (in en). West Fraser. pp. 1–120. https://www.westfraser.com/sites/default/files/West-Fraser-2021-AR_linked.pdf.
- ↑ Ltd, West Fraser Timber Co. "West Fraser Announces 2019 Annual and Fourth Quarter Results" (in en). https://www.newswire.ca/news-releases/west-fraser-announces-2019-annual-and-fourth-quarter-results-852238839.html.
- ↑ "Our Members" (in en-US). https://www.fpac.ca/about-forest-products/companies/.
- ↑ 4.0 4.1 "West Fraser's Lumber Legacy". https://www.home.crs/toolbox/detail/west-frasers-lumber-legacy. Retrieved July 14, 2023.
- ↑ "Announcing the 2009 Business Laureates of British Columbia Hall of Fame Inductees". Vancouver Sun: p. H2c. January 10, 2009. https://www.newspapers.com/article/the-vancouver-sun-announcing-the-2009-bu/128096729/. Retrieved July 12, 2023.
- ↑ "The anchor of S.S. West Fraser". Quesnel Cariboo Observer (Quesnel, British Columbia): p. Sup. 13. December 17, 1995. https://www.newspapers.com/article/quesnel-cariboo-observer-the-anchor-of-s/128097339/. Retrieved July 12, 2023.
- ↑ "Helicopter wreckage found". Ottawa Journal: p. 9. November 12, 1977. https://www.newspapers.com/article/the-ottawa-journal-helicopter-wreckage-f/128190238/. Retrieved July 14, 2023.
- ↑ "New timber chief". The Province (Vancouver): p. 16. January 14, 1978. https://www.newspapers.com/article/the-province-new-timber-chief/128190359/. Retrieved July 14, 2023.
- ↑ Lyon, Jim (April 5, 1986). "West Fraser going public while lumber price is right". National Post (Toronto): p. 25. https://www.newspapers.com/article/national-post-west-fraser-going-public-w/128119780/. Retrieved July 12, 2023.
- ↑ Lyon, Jim (May 17, 1986). "Initial public offering". National Post (Toronto): p. 27. https://www.newspapers.com/article/national-post-ownership-changes-for-bc/128191372/. Retrieved July 14, 2023.
- ↑ "Henry Ketcham". Forbes. 2012-04-18. https://www.forbes.com/profile/henry-ketcham/. Retrieved 2014-05-19.
- ↑ MacDonald, Autumn (February 20, 2013). "West Fraser notes improvements". Quesnel Cariboo Observer (Quesnel, British Columbia): p. A2. https://www.newspapers.com/article/quesnel-cariboo-observer-west-fraser-not/128190719/. Retrieved July 14, 2023.
- ↑ "Executive: Raymond Ferris". https://www.westfraser.com/company/leadership/executive. Retrieved July 14, 2023.
- ↑ Jang, Brent (13 April 2020). "Jim Pattison boosts stake in West Fraser Timber prompting shareholder rights plan". The Canadian Press. https://www.theglobeandmail.com/business/article-jim-pattison-boosts-stake-in-west-fraser-timber-prompting-shareholder/.
- ↑ Bell, Andrew (13 April 2020). "West Fraser Timber poison pill stirs speculation about Pattison's role". BNN Bloomberg. https://www.bnnbloomberg.ca/west-fraser-timber-poison-pill-stirs-speculation-about-pattison-s-role-1.1420925.
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