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VANCOUVER — West Fraser Timber Co. Ltd. reported a net loss of US$204 million in its third quarter results compared with a net loss of US$83 million during the same period a year earlier.  

West Fraser says this amounted to a loss of US$2.63 per diluted share compared to a loss of US$1.03 per diluted share a year earlier. 

The Vancouver-based forestry company, which keeps its books in U.S. dollars, says sales during the third quarter came in at US$1.3 billion compared to US$1.43 billion a year earlier. 

On an adjusted basis before deductions, the company says it reported a loss of US$144 million, down from US$62 million during the same period last year.  

West Fraser CEO Sean McLaren says the company faces a challenging backdrop with supply and demand imbalances for wood building products due to lower housing affordability, coupled with new tariffs on Canadian softwood lumber.

U.S. President Donald Trump used Section 232 of the Trade Expansion Act of 1962 to impose 10 per cent tariffs on softwood timber and lumber beginning Oct. 14.

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