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WFP completes sale of ownership interest in La-kwa sa muqw Forestry

The Tlowitsis, We Wai Kai, Wei Wai Kum and K’ómoks First Nations – all member First Nations of the Nanwakolas Council – and Western Forest Products have announced the completion of a previously announced agreement for the Nations to acquire a 34 per cent interest from Western in a newly formed limited partnership for $35.9 million.

The partnership, La-kwa sa muqw Forestry, now holds certain assets and liabilities of Western’s Mid Island Forest Operation, including the recently established Tree Farm Licence 64. Covering approximately 157,000 hectares of forest land in traditional territories near Campbell River and Sayward on Vancouver Island, the Partnership is set to manage an annual timber cut of 904,540 cubic meters. Furthermore, it includes a long-term fibre agreement supporting Western’s coastal manufacturing operations in B.C.

Dallas Smith, president of the Nanwakolas Council, hailed the move as a significant step toward sustainable forest management. He commended the Nations for their leadership in establishing this business venture and Western for their partnership.

Steven Hofer, Western’s president and CEO, emphasized the transaction’s role in fostering a more inclusive forestry sector. He expressed optimism about the benefits the partnership will bring to all stakeholders, including workers and local communities.

To commemorate this milestone, an event will be held in Campbell River on April 5, attended by the participating Nations, provincial and municipal government officials, and representatives from Western. Members of the media interested in attending are requested to contact Western’s media relations for confirmation and event details.