Norbord Reports Record 2020 Results
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Note: Financial references in US dollars unless otherwise indicated. This news release reviews Norbord s standalone performance during the 2020 fiscal year as Norbord and West Fraser operated as separate companies during the 2020 fiscal year (see Acquisition by West Fraser section below).
2020 HIGHLIGHTS
Record full-year Adjusted EBITDA of $865 million and Adjusted earnings of $6.38 per diluted share
Record annual production at three mills (one in North America and two in Europe)
Liquidity of $985 million at year-end
Announced intention to restart production at Chambord, Quebec mill in spring 2021
Published 2020 Environmental, Social and Governance (ESG) report
West Fraser Completes Acquisition of Norbord
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West Fraser ) (TSX andNYSE: WFG) and Norbord Inc. (
Norbord ) today jointly announce that they have completed the previously announced transaction (the
Transaction ) whereby West Fraser has acquired all of the issued and outstanding common shares of Norbord (the
Norbord Shares ). Under the terms of the Transaction, holders of Norbord Shares received 0.675 of a common share of West Fraser (the
West Fraser Shares ) for each Norbord Share held. Today marks a new era for all West Fraser employees and shareholders with the completion of the Norbord transaction. The combination of two top-calibre employee teams manufacturing sustainable products that are essential for a low-carbon economy positions West Fraser well going forward, said Raymond Ferris, President and Chief Executive Officer of West Fraser.
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(CP) TORONTO - Shareholders of West Fraser Timber Co. Ltd. and Norbord Inc. have approved a $4-billion all-stock deal that will marry two of Canada's big
TORONTO - Shareholders of West Fraser Timber Co. Ltd. and Norbord Inc. have approved a $4-billion all-stock deal that will marry two of Canada's big wood pr