West Fraser Timber Co. Ltd. and Norbord Inc. announced that they have entered into a strategic business combination pursuant to which West Fraser will acquire all of the outstanding common shares of Norbord, in an all-stock transaction valued at approximately CAD 4.0 billion (USD 3.1 billion) (the Transaction). Following closing, the combined company will operate as West Fraser. Following closing, Mr. Wijnbergen will be appointed President, Engineered Wood, responsible for the company's OSB, plywood, particleboard, MDF and veneer operations. Sean McLaren, currently West Fraser's Vice-President, U.S. Lumber, will be appointed President, Solid Wood, responsible for all of the company's lumber operations. West Fraser's Board of Directors will continue to be chaired by Hank Ketcham. At closing, two of Norbord's current independent directors will join the West Fraser Board.