Canfor Corporation

Canfor Corporation

August 30, 2005 15:04 ET

Canfor Resigns from BC Lumber Trade Council as a Result of Recent NAFTA Decision

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - Aug. 30, 2005) - Canfor Corporation (TSX:CFP) announced today that as a result of the recent decision by the North American Free Trade Agreement (NAFTA) Extraordinary Challenge Committee (ECC), Canfor has resigned its position with the BC Lumber Trade Council (BCLTC).

"We believe the BCLTC has served the purpose for which it was created," said Canfor President and CEO, Jim Shepherd. "This process that we were engaged in through NAFTA has successfully concluded and it is now time for the debate to be taken to another level," he said.

On August 10, 2005 the NAFTA ECC unanimously ruled in favour of Canada and against the US International Trade Commission's threat of injury claim. In the NAFTA process this decision dismisses all claims by the U.S. Coalition against Canadian lumber producers terminating the case immediately. As a result, the duties that have been collected must be returned and the collection of duties going forward stop. The US government has failed to honour the NAFTA decision. "It is now time for both Ottawa and Washington to reaffirm their commitment to a rules based trading system and live up to their legal commitments under NAFTA," Shepherd stated.

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, including baled fibre and fibre mat at 29 facilities located in BC, Alberta and Quebec.

Contact Information

  • Canfor Corporation
    Lee Coonfer
    Manager, Public Affairs and Corporate Communications
    (604) 661-5225