VANCOUVER, Jan. 2, 2015 /CNW/ - Canfor Corporation (TSX:CFP)
announced today that, further to its news release issued
August 1, 2014, the Company has
completed the purchase agreement for the operating assets of
Beadles and Balfour Lumber Companies. The transaction includes two
sawmills located in Thomasville
and Moultrie, Georgia and is
structured with 55% being acquired upon completion of the agreement
and the balance after a two year period.
"The Beadles and Balfour
sawmills are strong performing assets located in an area with a
high-quality and sustainable supply of fibre," said Canfor
President and CEO Don Kayne. "We are
looking forward to working with the management teams at
Balfour and Beadles to continue to
produce high-quality southern yellow pine lumber."
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.
Canfor is a leading integrated forest products company based
in Vancouver, British Columbia
(BC) with operations in BC, Alberta, North and South Carolina and Alabama. Canfor produces primarily softwood
lumber, and also produces bleached chemi-thermo-mechanical pulp and
specialized wood products. Canfor also owns a 50.5% interest in
Canfor Pulp Products Inc., 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 under the symbol CFP.
SOURCE Canfor Corporation