West Fraser Timber, Mercer Agree To Dissolve Their 50/50 JV In Cariboo Pulp And Paper; No Termination Or Other Amounts Are Payable By Either Company

West Fraser will continue as the sole owner/operator of the mill, doing business as Cariboo Pulp and Paper Company. No termination or other amounts are payable by either company in connection with the termination of the joint venture. Mercer will retain certain finished product inventory in connection with the transaction. Mercer expects to recognize a non-cash impairment in the first quarter in connection with the dissolution of the joint venture, based on the net carrying value of such interest.