Ainsworth Lumber Co. Ltd.

Ainsworth Lumber Co. Ltd.

September 09, 2011 13:01 ET

Ainsworth Announces Senior Management Changes

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Sept. 9, 2011) - Ainsworth Lumber Co. Ltd. (TSX:ANS)(TSX:ANS.WT) President and CEO Richard Huff announced his retirement today. In his place the Board of Directors of Ainsworth has appointed Jim Lake, currently Vice President, Operations as President and Chief Operating Officer. In this position he will be responsible for all of the business and operations of the Company and will report directly to the Board of Directors.

"We would like to thank Rick for leading the operational restructuring of Ainsworth over the past two years and wish him well in his retirement," said Peter Gordon, Chairman of the Board. "Ainsworth remains well positioned for the market recovery in North America and we continue to pursue promising opportunities in Asian markets."

Jim Lake joined Ainsworth as Vice President of Operations in June 2010 and since that time has led a significant improvement in operating performance at the Company's mills. When he joined the Company, he brought over 25 years of industry experience having held the position of Vice President Operations at Grant Forest Products and prior to that, Vice President Manufacturing at Louisiana Pacific Corp.

Forward Looking Statements

Forward-looking information provided in this news release relating to the Company's future prospects are forward-looking information pursuant to National Instrument 51-102 promulgated by the Canadian Securities Administrators. The Company believes that expectations reflected in such information are reasonable, but no assurance is given that such expectations will be correct. Forward-looking information is based on the Company's beliefs and assumptions based on information available at the time the assumption was made and on management's experience and perception of historical trends, current conditions and expected further developments as well as other factors deemed appropriate in the circumstances. Investors are cautioned that there are risks and uncertainties related to such forward looking information and actual results may vary. Important factors that could cause actual results to differ materially from those expressed or implied by such forward-looking information include, without limitation, factors detailed from time to time in the Company's periodic reports filed with the Canadian Securities Administrators and other regulatory authorities. The forward-looking information is made as of the date of this news release and the Company assumes no obligation to update or revise them to reflect new events or circumstances, except as explicitly required by securities laws.

Contact Information