Canfor Corporation

Canfor Corporation

September 12, 2008 18:13 ET

Canfor Announces Settlement With Hospital Employee Union

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Sept. 12, 2008) - Canfor Corporation (TSX:CFP) announced today that it has accepted payment of $500,000 from the Hospital Employee Union (HEU) to settle a legal action launched by the company in 2004. Canfor made a legal claim of damages for lost production and labour costs related to picketing of its operations at the Northwood pulp mill near Prince George on April 30, 2004.

Rob Stewart, Canfor's Vice-President of Human Resources, was quoted: "This settlement concludes a successful negotiation with the HEU."

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", "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 the Company assumes 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 interests in facilities in BC, Alberta, Quebec, Washington State, and North and South Carolina. The Company is the largest producer of softwood lumber in Canada while also producing OSB, plywood, remanufactured lumber products and specialized wood products. Canfor also owns a 50.2% interest in Canfor Pulp Limited Partnership, 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.

Contact Information

  • Canfor Corporation
    Robert Stewart
    Vice President, Human Resources
    (604) 264-6246