Strong North American Markets Drive Western Income

Western Forest Products Inc.’s net income in the fourth quarter of 2020 was $34.4 million, compared to a net loss of $29.2 million for the fourth quarter of 2019 and net income of $11.5 million in the third quarter of 2020. The company says it capitalized on strong North American lumber markets by growing Western Red Cedar shipments, and by redirecting commodity production from weaker export markets into the specialty treated lumber segment. Lumber revenue grew by 23 per cent from the third quarter of 2020, on the strength of higher prices for its Western Red Cedar products and increased sales volumes and prices in its commodity lumber segment. Lumber revenue was $256.6 million, as compared to $66.1 million in the strike affected fourth quarter of 2019.