West Fraser Timber Co. and Mercer International Inc. are dissolving their 50/50 joint venture in Cariboo Pulp and Paper.

Vancouver-based West Fraser will be the sole owner and operator of the mill.

West Fraser president and CEO Sean McLaren says the move better positions the company to support the mill and provide ongoing certainty to its workforce.

Meanwhile, Mercer CEO Juan Carlos Bueno says the dissolution will allow the firm to direct resources to areas that better align with its long-term focus. 

West Fraser says the mill employs almost 300 people. 

Earlier this year, West Fraser announced it was permanently closing a sawmill in Fraser Lake, B.C., closing another in Maxville, Fla., and indefinitely curtailing operations at its Huttig, Ark., sawmill.

This report by The Canadian Press was first published April 2, 2024.