By Katherine Hamilton
Western Forest Products agreed to sell its Stillwater Forest operation in British Columbia to the Tla'amin Nation for 80 million Canadian dollars, or $58.5 million.
The Canadian lumber company said Thursday it would sell its ownership interests in the assets to Qwoqwnes Forestry Holdings, an entity owned and controlled by Tla'amin Nation.
The Stillwater operation includes a tree farm license covering about 154,000 hectares of forest land, the majority of which is located in the traditional territory of Tla'amin Nation.
The new owner will manage an allowable annual cut of about 469,200 cubic meters of timber from the area, Wester Forest said. They will also enter a long-term fiber supply agreement to sell timber harvested from the tenure to Western Forest to support the company's manufacturing operations.
Western Forest Chief Executive Steven Hofer said the agreement is a step toward forging business relationships with Indigenous communities in the area.
Write to Katherine Hamilton at katherine.hamilton@wsj.com
(END) Dow Jones Newswires
February 19, 2026 17:20 ET (22:20 GMT)
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