Canfor Corporation

Canfor Corporation

November 28, 2007 09:01 ET

Canfor Restructures Shifts at Four Mills

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Nov. 28, 2007) - Canfor Corporation (TSX:CFP) announced today that due to the continued poor lumber markets and high Canadian dollar, it will be moving from three shifts to two for an indefinite period of time at its Rustad, Clear Lake, Polar, and Mackenzie sawmills effective the last working day prior to Canfor's company-wide holiday curtailment. This decision represents approximately 355 million board feet of annual lumber production and will impact approximately 300 employees who will be indefinitely laid off.

The restructured shift schedule will not impact Canfor's ability to meet its customer and chip supply commitments.

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).

Contact Information

  • Canfor Corporation - Media Contact
    Lee Coonfer
    Manager, Public Affairs & Corporate Communications
    (604) 661-5225
    Canfor Corporation - Investor
    Patrick Elliott
    (604) 661-5441