11:44 AM EST, 11/29/2024 (MT Newswires) -- Western Forest Products ( WFSTF ) late on Thursday said it agreed to the terms of a tentative collective agreement with the United Steelworkers Local 1-1937 union representing about 1,000 of its employees.

The tentative agreement is subject to a ratification vote by USW membership in a vote expected by the end of the year. The USW bargaining committee has advised that they will be recommending that its members accept the agreement.

"A new collective agreement will provide critical business certainty to the company as we look to accelerate the transition to higher value products through reinvestment in our operations," said chief executive Steven Hofer.

Western Forest Products ( WFSTF ) shares were last seen down $0.02 to $0.45 on the Toronto Stock Exchange.

Price: 0.45, Change: -0.02, Percent Change: -4.26