Oct 30, 2014. /Lesprom Network/. West Fraser Timber Co. Ltd. reported earnings of $70 million on sales of $1,030 million in the 3Q 2014. In the quarter lumber operations generated operating earnings of $101 million (2Q - $81 million) and EBITDA of $131 million (2Q- $106 million). The increased earnings were largely the result of reduced costs and certain manufacturing productivity improvements related to capital investments, as the company said in the press release received by Lesprom Network.

Panel segment generated operating earnings of $25 million (2Q - $10 million) and EBITDA of $29 million (2Q- $13 million), the result of substantially improved plywood prices.

Pulp and paper operations generated an operating loss of $2 million compared to operating earnings of $19 million in the previous quarter and EBITDA of $9 million (2Q - $30 million). The loss was largely the result of scheduled maintenance downtime at its Hinton pulp mill followed by a difficult startup.

"The largest capital program in our Company's history is currently underway and I expect combined capital expenditures for 2013 and 2014 to exceed $700 million," said Ted Seraphim, our President and CEO. "I'm excited about what these investments are doing to improve the competitiveness of the Company and how we are positioning our operations to succeed as U.S. housing continues its slow recovery."

West Fraser Timber is an integrated wood products company producing lumber, wood chips, LVL, MDF, plywood, pulp and newsprint.