Panel segment generated operating earnings of $6 million (2Q - $6 million) and EBITDA of $9 million (2Q - $10 million) in the quarter. Higher plywood and MDF prices were offset by higher log costs and reduced MDF production.
In the quarter pulp and paper operations generated operating earnings of $29 million (2Q - $20 million) and EBITDA of $40 million (2Q - $31 million). Higher prices, a slightly weaker Canadian dollar and improved NBSK production contributed to the improved results.
"Our 3Q results reflect lower lumber prices offset somewhat by improved pulp prices compared to the previous quarter." said Ted Seraphim, our President and CEO. "Given our strong balance sheet and strong cash generation from our operations we remain focused on our aggressive capital spending program over the next few years as we fully modernize our operations."
West Fraser Timber is an integrated wood products company producing lumber, wood chips, LVL, MDF, plywood, pulp and newsprint.