Canfor Corporation

Canfor Corporation

March 30, 2005 14:07 ET

Canfor Agrees to Sale of Slocan Sawmill

VANCOUVER, March 30 - Canfor announced today that it has entered
into an agreement with Springer Creek Forest Products Ltd. for the sale of its
Slocan Sawmill and related tenure for $6.2 million (Cdn) plus the value of
inventory, which will be determined at closing. The closing is anticipated to
occur in April 2005, subject to customary approvals and filings.

"Canfor is selling the Slocan mill as part of a process to focus our
manufacturing assets around certain product lines and fibre baskets," said Jim
Shepherd, Canfor's President and CEO. "We are confident that Springer Creek
Forest Products Ltd. will be a good fit for this mill, its employees and the
community of Slocan," he said.

Canfor Corporation is a leading Canadian integrated forest products
company based in Vancouver, British Columbia. The Company has extensive
woodlands operations and manufacturing facilities in British Columbia, Alberta
and Quebec and a lumber remanufacturing plant in Washington State. Canfor is a
major producer and supplier of lumber, bleached kraft pulp, specialty kraft
paper, plywood and oriented strand board (OSB) for markets around the world.

Contact Information

  • Lee Coonfer
    Manager, Public Affairs and Corporate Communications
    Canadian Forest Products Ltd.
    Office: (604) 661-5225
    Cell: (604) 209-7097