International Forest Products Limited

International Forest Products Limited

January 11, 2007 17:28 ET

International Forest Products Limited: U.S. Duty Deposit Refund Monies Received

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - Jan. 11, 2007) - International Forest Products Limited ("Interfor" or the "Company") (TSX:IFP.A) reported today that it has received US$118.9 million, representing substantially all of the duty deposit refund monies including interest expected under the terms of the Canada-US Softwood Lumber Agreement. The refund is subject to an 18.06% claw back under the terms of the Agreement plus income taxes, which will be remitted in the 1st Quarter of 2007.

Interfor is one of the Pacific Northwest's largest producers of quality wood products, with a combined annual capacity of 1.3 billion board feet. The Company's operations are located in British Columbia, Washington and Oregon, including three sawmills in the Coastal region of British Columbia, one in the B.C. Interior, one in Washington and two in Oregon. In addition, Interfor operates value-added remanufacturing and specialty products facilities in B.C. and Washington.

Contact Information

  • International Forest Products Limited
    John A. Horning
    Senior Vice President and Chief Financial Officer
    (604) 689-6829