Canfor Corporation

Canfor Corporation

October 04, 2010 11:19 ET

Canfor Announces the Sale of Howe Sound Pulp and Paper Mill

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Oct. 4, 2010) - Canfor Corporation (TSX:CFP) announces that further to its news release of July 15, 2010, Howe Sound Pulp and Paper Limited Partnership ("HSPP") has completed the sale of all its operating assets to Howe Sound Pulp and Paper Corporation, a newly formed subsidiary of Paper Excellence B.V.

The principal asset of HSPP was a pulp and paper facility at Port Mellon, BC, capable of producing 400,000 tonnes of NBSK pulp and 230,000 tonnes of mechanical paper. HSPP is equally owned by Canfor and Oji Paper Co., Ltd. of Japan.

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 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 operations in BC, Alberta, Quebec, Washington state, and North and South Carolina. The Company produces primarily softwood lumber and also produces oriented strand board (OSB), 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.

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