International Forest Products Limited
TSX : IFP.A

International Forest Products Limited

August 13, 2008 19:34 ET

Interfor to Fund Portac Acquisition From Bank Facilities

Option to issue shares to Portac will not be exercised

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Aug. 13, 2008) - International Forest Products Limited ("Interfor" or the "Company") (TSX:IFP.A) announced today it had notified Portac, Inc. ("Portac") it would pay for the previously-announced acquisition of Portac's Olympic Peninsula operations with funds drawn from its bank facilities and consequently would not issue any shares to Portac under the terms of its option to pay a portion of the purchase price in Interfor Class A Subordinate Voting shares.

The transaction is scheduled to close on September 30, 2008.

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, one in Washington and two in Oregon.

For more information about Interfor, visit our website at www.interfor.com.

Contact Information

  • International Forest Products Limited
    John A. Horning
    Senior Vice President & Chief Financial Officer
    (604) 689-6829
    Website: www.interfor.com