Feb 21, 2011. /Lesprom Network/. During 2010, TimberWest delivered four consecutive quarters of positive EBITDA. Total EBITDA for 2010 was $21.2 million. This is a $28.5 million improvement over the $7.3 million of EBITDA generated in 2009, as the company said in a press release received by Lesprom Network. The company turned around its 4Q losses, posting a profit of $4.3 million in the latest three-month period on stronger demand and higher prices in Asia. The timber and land management company said the 4Q results compared to loss of $3.1 million at the same time a year earlier. Sales were $51.8 million for the three month period ended Dec. 31, an increase from $40.1 million. Driving these improved results is increased demand and prices for fibre in Asia. Strong economic growth in China and Korea, improved market access, and a decline in Russian log supply, has provided a profitable and sustainable platform for TimberWest. 2010 marks the first year when more than half of the company’s log sales volumes were into international markets. The company ended the year with improved liquidity and a stronger balance sheet with net debt at $103 million, an improvement of $47.8 million from 2009. “As we look forward, softwood demand in China is projected to increase and their existing fibre supply gap is expected to persist. Additionally, demand from our largest market, Japan, is expected to remain strong and pricing in that market to remain stable. Furthermore, log demand in the US is expected to gradually recover with a slow but steady improvement in the US housing market. With demand increasing in all markets, over time the supply of logs will become increasingly acute. This will become increasingly severe as supply restrictions caused by the mountain pine beetle epidemic become progressively felt,” said Paul McElligott, President and CEO of TimberWest. TimberWest is Western Canada’s largest private timber and land management company. The Company owns approximately 327,678 hectares of private land on Vancouver Island and meets all Sustainable Forestry Initiative (SFI®) requirements in the management of those lands.