West Fraser Timber

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]

West Fraser Timber Co. Ltd.
TypePublic
TSX: WFG
NYSE: WFG
IndustryForestry
Founded1955 (1955) in Quesnel, British Columbia
HeadquartersVancouver, British Columbia, Canada
Key people
Ray Ferris, President & CEO
Henry H. Ketcham, Chairman
ProductsDiversified wood-based building materials
Revenue$10.518 billion USD (2021)[1]
Number of employees
10,625 (2021)
Websitewww.westfraser.com

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
  1. "2021 Annual Report" (PDF). westfraser.com. West Fraser. pp. 1–120. Retrieved 13 March 2023.
  2. Ltd, West Fraser Timber Co. "West Fraser Announces 2019 Annual and Fourth Quarter Results". www.newswire.ca. Retrieved 2020-04-10.
  3. "Our Members". FPAC | The Forest Products Association of Canada. Retrieved 2020-04-10.
  4. "West Fraser's Lumber Legacy". home.crs. Retrieved July 14, 2023.
  5. "Announcing the 2009 Business Laureates of British Columbia Hall of Fame Inductees". Vancouver Sun. January 10, 2009. p. H2c. Retrieved July 12, 2023 – via newspapers.com.
  6. "The anchor of S.S. West Fraser". Quesnel Cariboo Observer. Quesnel, British Columbia. December 17, 1995. p. Sup. 13. Retrieved July 12, 2023 – via newspapers.com.
  7. "Helicopter wreckage found". Ottawa Journal. November 12, 1977. p. 9. Retrieved July 14, 2023 – via newspapers.com.
  8. "New timber chief". The Province. Vancouver. January 14, 1978. p. 16. Retrieved July 14, 2023 – via newspapers.com.
  9. Lyon, Jim (April 5, 1986). "West Fraser going public while lumber price is right". National Post. Toronto. p. 25. Retrieved July 12, 2023 – via newspapers.com.
  10. Lyon, Jim (May 17, 1986). "Initial public offering". National Post. Toronto. p. 27. Retrieved July 14, 2023 – via newspapers.com.
  11. "Henry Ketcham". Forbes. 2012-04-18. Archived from the original on April 21, 2014. Retrieved 2014-05-19.
  12. MacDonald, Autumn (February 20, 2013). "West Fraser notes improvements". Quesnel Cariboo Observer. Quesnel, British Columbia. p. A2. Retrieved July 14, 2023 – via newspapers.com.
  13. "Executive: Raymond Ferris". westfraser.com. Retrieved July 14, 2023.
  14. Jang, Brent (13 April 2020). "Jim Pattison boosts stake in West Fraser Timber prompting shareholder rights plan". The Canadian Press. Retrieved 4 October 2020.
  15. Bell, Andrew (13 April 2020). "West Fraser Timber poison pill stirs speculation about Pattison's role". BNN Bloomberg. Retrieved 4 October 2020.


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