Western and USW Reach Tentative Collective Agreement

VANCOUVER, British Columbia, Feb. 10, 2020 (GLOBE NEWSWIRE) -- Western Forest Products Inc. (TSX: WEF) (“Western” or the “Company”) announced today that the Company and the United Steelworkers Local 1-1937 (“USW”) have agreed to the terms of a tentative collective agreement. The tentative agreement is subject to a ratification vote by USW membership. The USW bargaining committee has advised that they will be recommending that its members accept this agreement.

"With the assistance of special mediators, Vince Ready and Amanda Rogers, we have reached a fair and equitable agreement that balances the needs of our employees and our business," said Don Demens, President and Chief Executive Officer of Western. “This has been a particularly challenging time and I’m pleased that we were able to find common ground through the efforts of all involved.”

About Western Forest Products Inc.

Western is an integrated forest products company building a margin-focused log and lumber business to compete successfully in global softwood markets. With operations and employees located primarily on the coast of British Columbia and Washington State, Western is a premier supplier of high-value, specialty forest products to worldwide markets. Western has a lumber capacity in excess of 1.1 billion board feet from eight sawmills and four remanufacturing facilities. The Company sources timber from its private lands, long-term licenses, First Nations arrangements, and market purchases. Western supplements its production through a wholesale program providing customers with a comprehensive range of specialty products.

Forward-looking Statements

This press release contains statements that may constitute forward-looking statements under the applicable securities laws. Readers are cautioned against placing undue reliance on forward-looking statements. All statements herein, other than statements of historical fact, may be forward-looking statements and can be identified by the use of words such as “will”, “may”, “expect” and similar references to future periods. Although such statements reflect management’s current reasonable beliefs, expectations and assumptions, there can be no assurance that forward-looking statements are accurate, and actual performance or outcomes may materially vary. Many factors could cause our actual results or performance to be materially different, including strike activity, the inability to predict the outcomes of any such activity, ratification of a tentative agreement, the timing it may take to resolve a labour dispute, a change in the Company’s financial situation, general economic conditions, and other factors referenced under the “Risks and Uncertainties” section of our MD&A in our 2018 Annual Report dated February 12, 2019.

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