Western Forest Products says it has closed a previously announced deal with four of the six member nations of the Nanwakolas Council. These four First Nations will acquire a 34 percent interest from Western in a newly formed limited partnership, in a transaction valued at $35.9 million. The parties also announced the new name for the partnership: La-kwa sa muqw Forestry (pronounced la-KWAH-sa-mook). The name means “the wood of four” in the Kwak’wala language.
The partnership consists of certain assets and liabilities of Western’s Mid Island Forest Operation. An event bringing together the participating Nations with provincial and municipal officials and Western representatives will be held in Campbell River on April 5 to celebrate the partnership.
