Four First Nations and Western Forest Products join forces for BC Forestry deal

Posted on October 30, 2023   |  

Western Forest Products Inc. and four First Nations (Tlowitsis, We Wai Kai, Wei Wai Kum, and K’ómoks) have formed a partnership where the Nations are purchasing a 34% stake for $35.9 million (CAD).

The formation of the partnership and the acquisition by the Nations are subject to various closing conditions, which include approvals from the BC Ministry of Forests for matters like land transfer. 

The target is to complete this acquisition in the first quarter of 2024 (2024Q1).

This partnership will oversee specific assets and responsibilities from Western's Mid Island Forest Operation, which includes Block 2 of Tree Farm License 39. 

This operation will manage 157,000 hectares of forest land near Campbell River and Sayward on Vancouver Island.

The partnership is set to handle the cutting of around 904,540 cubic meters of timber each year.