Canfor Corporation

Canfor Corporation

April 10, 2006 17:32 ET

Canfor Corporation Announces Annual General Meeting, First Quarter Earnings Announcement Date and First Quarter Results Conference Call

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - April 10, 2006) - Canfor Corporation (TSX:CFP) will release its first quarter 2006 financial and operating results on Friday, April 28, 2006.

Canfor's Annual General Meeting will be held at 11:30 AM PST Friday, April 28, 2006 in Vancouver, BC at the Hyatt Regency Hotel.

Canfor will hold a conference call on Monday, May 1, 2006 at 8:00 AM PST to discuss first quarter 2006 financial and operating results. To participate in the call, please dial one of the following numbers:

604-678-9375 (Vancouver)

1-866-898-9626 (Toll-Free North America)

Let the operator know you wish to participate in the Canfor Corporation conference call chaired by Mr. Jim Shepherd, President & CEO.

Following management's discussion of the quarterly results, the analyst and investment community will be invited to ask questions. Once the analyst and investment community have completed their questions, Canfor's management will take questions from the media.

The Annual General Meeting and conference call will be webcast live and will be available at


With the acquisition of New South Companies ("New South") on March 6, 2006, Canfor will be consolidating results from New South from that point forward. This will include results for 20 operating days for the first quarter of 2006. From March 6 to December 31, 2006 expectations are that New South will have production of approximately 340 million board feet of southern yellow pine ("SYP").

The results from New South will be included in the results of the Lumber segment with separate SYP benchmark pricing and SYP shipment figures disclosed. Results from the International Import business will be recorded in the Lumber segment with shipments disclosed as "Shipments - wholesale lumber".

The Peace Valley OSB plant commenced operations at the end of the fourth quarter of 2005, and continues to be in its start-up phase. The plant is expected to operate at 65% to 75% of its 820 million square feet (3/8" basis) annual capacity in the second quarter.

Following the capital improvements made in 2005 at the PolarBoard OSB plant, production for the first quarter of 2006 is expected to be 15% higher than in the previous quarter. Production at quarter-end was at a run-rate of approximately 85% of its 650 million square feet (3/8" basis) of annual capacity.

Collective production levels at the other facilities are expected to be within 10% of previously announced capacity levels.

Canfor is a leading integrated forest products company based in Vancouver, British Columbia. The company is the largest producer of softwood lumber and one of the largest producers of northern softwood kraft pulp in Canada. Canfor also produces kraft paper, plywood, remanufactured lumber products, oriented strand board (OSB), hardboard paneling and a range of specialized wood products, at 33 facilities located in BC, Alberta, Quebec and North and South Carolina.

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