Canfor Announces Capital Investment at Polar Sawmill
April 30 2014 - 5:01PM
Marketwired
Canfor Announces Capital Investment at Polar Sawmill
VANCOUVER, BRITISH COLUMBIA--(Marketwired - Apr 30, 2014) -
Canfor Corporation (TSX:CFP) announced today that the Company will
proceed with capital investments totaling approximately $30 million
to improve infrastructure, productivity and cost performance at its
Polar sawmill in the community of Bear Lake, British Columbia.
The project will include upgrades to log processing, lumber
handling and residual systems, as well as replacing electrical
components and the sawmill building structure. The capital
improvement scope includes design and technologies to enhance the
mitigation of combustible dust.
"Canfor continues to be proactive in investing in our mills to
ensure we have competitive facilities that can operate in all
market conditions," said Canfor Corporation President and CEO Don
Kayne.
Work related to these capital projects will commence in May
2014.
Forward Looking Statements
Certain statements in this press release constitute
"forward-looking statements" which involve known and unknown risks,
uncertainties and other factors that may cause actual results to be
materially different from any future results, performance or
achievements expressed or implied by such statements. Words such as
"expects", "anticipates", "projects", "intends", "plans", "will",
"believes", "seeks", "estimates", "should", "may", "could", and
variations of such words and similar expressions are intended to
identify such forward-looking statements. These statements are
based on management's current expectations and beliefs and actual
events or results may differ materially. There are many factors
that could cause such actual events or results expressed or implied
by such forward-looking statements to differ materially from any
future results expressed or implied by such statements.
Forward-looking statements are based on current expectations and
Canfor and the Purchaser assume no obligation to update such
information to reflect later events or developments, except as
required by law.
Canfor is a leading integrated forest products company based
in Vancouver, British Columbia (BC) with operations in BC, Alberta,
North and South Carolina and Alabama. Canfor produces primarily
softwood lumber, and also produces bleached chemi-thermo-mechanical
pulp and specialized wood products. Canfor also owns a 50.4%
interest in Canfor Pulp Products Inc., which is one of the largest
producers of northern softwood kraft pulp in Canada and a leading
producer of high performance kraft paper. Canfor shares are traded
on the Toronto Stock Exchange under the symbol CFP.
Media Contact:Corinne StavnessManager, Public Affairs and
Corporate Communications(604)
661-5225Corinne.Stavness@canfor.comInvestor Contact:Pat ElliottVice
President and Treasurer(604) 661-5441Patrick.Elliott@canfor.com
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