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Western Forest struggles to sell 'non-core assets' Add to ...

Western Forest Products Inc. WEF-T said yesterday it will continue to sell assets it doesn't see as key to company growth, but that the economic downturn has slowed potential sales. The forestry company, which reported a deeper loss and 25 per cent drop in wood product sales in the first quarter, said it plans to use the money from assets it unloads to reduce borrowing and improve its balance sheet. But acting president and chief executive Dominic Gammiero said the recession has halted its plans to sell "non-core assets" in recent months. Western reported a net loss of $25.5 million for the quarter ended March 31 compared to a year-earlier loss of $22.6 million. WEF-T (TSX) fell 7 cents to 23 cents.

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