VANCOUVER, BC, Aug. 1, 2024
/CNW/ - Canfor Corporation (TSX: CFP) is pleased to announce the
completion of the acquisition from Arkansas Resolute El Dorado
Inc., of its lumber manufacturing facility in Union County, Arkansas. The transaction,
previously announced on May 1, 2024,
is a strategic complement to the Company's existing regional
operations, including its adjacent El Dorado Laminating Plant and
its nearby Urbana sawmill.
Renamed as the Iron Mountain sawmill, this acquisition will
create operational synergies with Canfor's existing facilities,
provide vertical integration opportunities with its two glulam
plants and build further capacity near customers and markets in the
US South.
"The acquisition, together with the intended investment and
expansion in the mill, is a strategic opportunity for us," said
Lee Goodloe, President, Canfor
Southern Pine. "As a growth-oriented forest products company, we
see this as an opportunity to expand the depth and breadth of our
manufacturing capabilities in Arkansas' rich, high-quality wood basket and
to provide our customers with a more comprehensive product
offering."
"We warmly welcome our new Iron Mountain employees to Canfor,"
Goodloe remarked, adding that "we also look forward to growing on
our local engagement and to strengthening our relationships with
the El Dorado community and all of
Iron Mountain's valued partners, suppliers and customers."
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
Canfor assumes no obligation to update such information to reflect
later events or developments, except as required by law.
About Canfor Corporation.
Canfor is a global leader in the manufacturing of high-value
low-carbon forest products including dimension and specialty
lumber, engineered wood products, pulp and paper, wood pellets and
green energy. Proudly headquartered in Vancouver, British Columbia, Canfor produces
renewable products from sustainably managed forests, at more than
50 facilities across its diversified operating platform in
Canada, the United States and Europe. The Company has a 70% stake in Vida
AB, Sweden's largest privately
owned sawmill company and also owns a 54.8% interest in Canfor Pulp
Products Inc. Canfor shares are traded on The Toronto Stock
Exchange under the symbol CFP. For more information visit
canfor.com.
SOURCE Canfor Corporation