Skip to main content

Logs are piled up at West Fraser Timber in Quesnel, B.C.


Ted Seraphim has been tapped to take over as West Fraser Timber Co. Ltd.'s chief executive officer.

Mr. Seraphim, West Fraser's president and chief operating officer, will replace Hank Ketcham as CEO on March 1. Mr. Ketcham, who also currently serves as chairman, will assume the role of executive chairman, the Vancouver-based company said Thursday.

West Fraser reported that it posted a fourth-quarter profit of $22-million as lumber prices climbed, compared with an $11-million loss in the same period of 2011. For the full 12 months of last year, the lumber producer had an $87-million profit, up from $27-million in 2011.

Story continues below advertisement

Meanwhile, Canfor Corp. announced that it had a $21.6-million profit in the final three months of 2012, compared with a $44.1-million loss in the year-earlier quarter. Canfor CEO Don Kayne said growth in global demand for softwood lumber has lifted sales. Canfor expects U.S. housing starts to continue improving.

Vancouver-based Canfor earned $32.1-million in 2012, compared with a $56.6-million loss in 2011.

West Fraser and Canfor have sawmills in the B.C. Interior and U.S. Southeast.

Report an error Licensing Options
About the Author

Brent Jang is a business reporter in The Globe and Mail’s Vancouver bureau. He joined the Globe in 1995. His former positions include transportation reporter in Toronto, energy correspondent in Calgary and Western columnist for Report on Business. He holds a Bachelor of Commerce degree from the University of Alberta, where he served as Editor-in-Chief of The Gateway student newspaper. Mr. More


The Globe invites you to share your views. Please stay on topic and be respectful to everyone. For more information on our commenting policies and how our community-based moderation works, please read our Community Guidelines and our Terms and Conditions.

Please note that our commenting partner Civil Comments is closing down. As such we will be implementing a new commenting partner in the coming weeks. As of December 20th, 2017 we will be shutting down commenting on all article pages across our site while we do the maintenance and updates. We understand that commenting is important to our audience and hope to have a technical solution in place January 2018.

Discussion loading… ✨