Canfor Welcomes Approval of Forest Tenure Transfer to Interfor
Canfor Corporation welcomes the announcement by the Honourable Doug Donaldson, Minister of Forests, Lands, Natural Resource Operations and Rural Development that he has consented to the transfer of the Vavenby forest tenure to Interfor.
“We are pleased that Premier Horgan and Minister Donaldson have approved the transfer of forest tenure associated with the Vavenby mill to Interfor,” said Don Kayne, President and CEO, Canfor. “With strong leadership from Premier Horgan, today’s decision demonstrates the BC government’s support of the Interior forest sector as it continues the difficult process of reducing production capacity to align with the available timber supply. Throughout this process we have appreciated the opportunity to work in partnership with the Simpcw First Nation, the local communities and the United Steelworkers.”
“We are working to sell the Vavenby mill site, which will provide the best opportunity for future economic activities and employment in the local communities,” added Kayne.
The agreement with Interfor is expected to close before the end of Q1 2020.
On June 3, 2019 Canfor announced the agreement to sell the Vavenby tenure to Interfor.
Canfor is a leading integrated forest products company based in Vancouver, British Columbia (“BC”) with interests in BC, Alberta, North and South Carolina, Alabama, Georgia, Mississippi and Arkansas, as well as in Sweden with its recent majority acquisition of Vida Group. Canfor produces primarily softwood lumber and also owns a 54.8% interest in Canfor Pulp Products Inc., which is one of the largest global producers of market northern bleached softwood kraft pulp and a leading producer of high performance kraft paper. Canfor Shares are traded on The Toronto Stock Exchange under the symbol CFP.
Michelle Ward – Director Corporate Communications – email@example.com – (604) 661-5225
Source: Canfor Corporation