Canfor Reopens Radium Sawmill
October 31 2012 - 5:00PM
Marketwired
Canfor Corporation (TSX:CFP) officially reopened its operations at
Radium Hot Springs, B.C. on October 29, following a $38.5-million
capital investment to upgrade the sawmill and build a new planer
mill. When the mill is running at full capacity in 2013, it is
expected to produce 240 million board feet annually and directly
employ 144 people.
"This investment shows how optimistic Canfor is about the future
of our industry and this region," Canfor President and CEO Don
Kayne said at the official reopening event October 31. "The mill
has been totally reconfigured so it can produce high-quality lumber
products for customers around the globe, and do so efficiently and
competitively."
"Today is a dream come true for our village and the entire
Columbia Valley," said Radium Mayor Dee Conklin. "I want to
congratulate Canfor for its vision, and thank Don Kayne and his
team for delivering this long-term commitment to our
community."
"This is clear evidence of the success of innovative and
progressive measures British Columbia has taken to strengthen our
forest industry," Forests Minister Steve Thomson said. "Our
government, in partnership with the Canadian government and the BC
forest industry, has developed new markets and increased demand for
our forest products - leading to jobs and economic benefits for
families in communities like Radium Hot Springs."
Radium Hot Springs, a village of about 800 people located in the
East Kootenays, is named after the hot springs in nearby Kootenay
National Park. A popular tourist destination, its economy is also
closely linked to the forest industry.
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,
Quebec, Washington State, and North and South Carolina. Canfor
produces primarily softwood lumber and also produces oriented
strand board (OSB), remanufactured lumber product, bleached
chemi-thermo-mechanical pulp and specialized wood products. Canfor
also owns a 50.2% 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.
Contacts: Canfor Corporation Corinne Stavness Manager, Public
Affairs & Corporate Communications Direct line: (604)
661-5225Corinne.Stavness@canfor.com www.canfor.com
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