Company type | Public |
---|---|
TSX:
WFG NYSE: WFG | |
Industry | Forestry |
Founded | 1955Quesnel, British Columbia | in
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 [update], West Fraser had been recognized eight times as one of Canada's Top 100 Employers. [4]
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]
Company type | Public |
---|---|
TSX:
WFG NYSE: WFG | |
Industry | Forestry |
Founded | 1955Quesnel, British Columbia | in
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 [update], West Fraser had been recognized eight times as one of Canada's Top 100 Employers. [4]
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]