International Forest Products Limited
TSX : IFP.A

International Forest Products Limited

August 31, 2009 17:49 ET

Interfor Completes Sale of Queensboro Property to Port Metro Vancouver

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Aug. 31, 2009) - International Forest Products Limited ("Interfor" or the "Company") (TSX:IFP.A) announced today it has completed the previously announced sale of its Queensboro property to Port Metro Vancouver.

The net proceeds of the transaction (approximately $30 million) will be used to repay debt.

Following the transaction, Interfor will have available unused lines of credit of approximately $100 million which it believes will be sufficient to meet its foreseeable requirements and to support future discretionary activities.

About Interfor

Interfor is one of the Pacific Northwest's largest producers of quality wood products. The Company has operations in British Columbia, Washington and Oregon, including two sawmills in the Coastal region of British Columbia, three in the B.C. Interior, two in Washington and two in Oregon. For more information about Interfor, visit our website at www.interfor.com.

Forward-Looking Statements

This release contains information and statements that are forward-looking in nature, including, but not limited to, statements containing the words "will", "believes" and "is expected" and similar expressions. Such statements involve known and unknown risks and uncertainties that may cause Interfor's actual results to be materially different from those expressed or implied by those forward-looking statements. Such risks and uncertainties include, among others: general economic and business conditions, product selling prices, raw material and operating costs, changes in foreign-currency exchange rates and other factors referenced herein and in Interfor's current annual report and management information circular available on www.sedar.com. The forward-looking information and statements contained in this report are based on Interfor's current expectations and beliefs. Readers are cautioned not to place undue reliance on forward-looking information or statements. Interfor undertakes no obligation to update such forward-looking information or statements, except where required by law.

Contact Information

  • International Forest Products Limited
    John A. Horning, Senior Vice President,
    Chief Financial Officer and Corporate Secretary
    (604) 689-6829
    www.interfor.com