VANCOUVER, Jan. 21, 2016 /PRNewswire/ - Canfor Corporation
(TSX:CFP) announces that it has entered into an agreement to
purchase the assets of Wynndel Box
and Lumber Ltd., located in the Creston Valley of British Columbia.
Wynndel Box and Lumber produces
premium boards and customized specialty wood products sold under
the brand name WynnWood. It has access to exceptionally
high-quality fibre, and will advance Canfor's ability to produce a
broader mix of higher value specialty products. The
acquisition of assets includes a sawmill located in Wynndel, BC with an annual production capacity
of 65 million board feet, and approximately 65,000 cubic metres of
annual harvesting rights in the Kootenay Lake Timber Supply Area.
The agreement is expected to close in the second quarter of
2016 and is subject to customary closing conditions.
"This acquisition will further increase our focus on specialty
markets worldwide," said Canfor Corporation President and CEO
Don Kayne. "We are pleased to
further grow and diversify the product line we are able to provide
to our global customers, and to welcome our new colleagues at
WynnWood to Canfor."
Canfor is a leading integrated forest products company based
in Vancouver, British Columbia
("BC") with interests in BC, Alberta, North and South Carolina, Alabama, Georgia, Mississippi and Arkansas. Canfor produces primarily
softwood lumber and also owns a 51.9% interest in Canfor Pulp
Products Inc., which is one of the largest producers of market
northern bleached softwood kraft pulp and a leading producer of
high performance kraft paper. Canfor shares are traded on the
Toronto Stock Exchange under the symbol CFP.
SOURCE Canfor Corporation