Canfor Corporation
TSX : CFP

Canfor Corporation

September 18, 2007 13:36 ET

Canfor Corporation Acquires Chesterfield Mill

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Sept. 18, 2007) - Canfor Corporation (TSX:CFP) today announced its wholly owned subsidiary, New South Companies, Inc. has entered into an agreement to purchase the assets of Chesterfield Lumber Company, Inc located in Darlington, South Carolina, for USD$18 million which includes working capital. The annual capacity of the Chesterfield Mill is approximately 140 million board feet of southern yellow pine. The mill is located between New South's Conway and Camden mills in South Carolina.

The transaction is subject to customary closing conditions and expected to close in the fourth quarter of 2007.

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 33 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 oriented strand board (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 (TSX:CFP).

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