VANCOUVER, BRITISH COLUMBIA--(Marketwired - April 30, 2014) - Canfor Corporation (TSX:CFP) announced today that the Company will proceed with capital investments totaling approximately $30 million to improve infrastructure, productivity and cost performance at its Polar sawmill in the community of Bear Lake, British Columbia.
The project will include upgrades to log processing, lumber handling and residual systems, as well as replacing electrical components and the sawmill building structure. The capital improvement scope includes design and technologies to enhance the mitigation of combustible dust.
"Canfor continues to be proactive in investing in our mills to ensure we have competitive facilities that can operate in all market conditions," said Canfor Corporation President and CEO Don Kayne.
Work related to these capital projects will commence in May 2014.
Forward Looking Statements
Certain statements in this press release constitute "forward-looking statements" which involve known and unknown risks, uncertainties and other factors that may cause actual results to be materially different from any future results, performance or achievements expressed or implied by such statements. Words such as "expects", "anticipates", "projects", "intends", "plans", "will", "believes", "seeks", "estimates", "should", "may", "could", and variations of such words and similar expressions are intended to identify such forward-looking statements. These statements are based on management's current expectations and beliefs and actual events or results may differ materially. There are many factors that could cause such actual events or results expressed or implied by such forward-looking statements to differ materially from any future results expressed or implied by such statements. Forward-looking statements are based on current expectations and Canfor and the Purchaser assume no obligation to update such information to reflect later events or developments, except as required by law.
Canfor is a leading integrated forest products company based in Vancouver, British Columbia (BC) with operations in BC, Alberta, North and South Carolina and Alabama. Canfor produces primarily softwood lumber, and also produces bleached chemi-thermo-mechanical pulp and specialized wood products. Canfor also owns a 50.4% interest in Canfor Pulp Products Inc., which is one of the largest producers of northern softwood kraft pulp in Canada and a leading producer of high performance kraft paper. Canfor shares are traded on the Toronto Stock Exchange under the symbol CFP.