Wildfires that have reportedly destroyed one-third of Slave Lake, Alberta, (pop. 7,000) have prompted Vancouver-based West Fraser Timber Co. Ltd. (TSX:WFT) to temporarily shut down two area facilities.
West Fraser has two operations in the affected region: Slave Lake Pulp and Slave Lake Veneer. West Fraser stated in a release that neither of its operations has sustained damage.
Both facilities have suspended operations and are being manned by emergency crews only.
West Fraser said that, although neither facility is currently threatened, the situation remains extremely hazardous.
The company is working with local authorities to ensure the safety of its employees, most of whom have already been evacuated from the immediate area.
Shares of West Fraser were trading down 1.06% or -$0.54 at yesterday’s close.
Jennifer Harrison