Canfor to invest C$36M to improve efficiency and recovery at Houston, British Columbia, sawmill; upgrades will include primary, secondary breakdown lines, advancements in scanning and optimization technology

Audrey Dixon

VANCOUVER, British Columbia , December 2, 2013 (press release) – Canfor Corporation (TSX:CFP) announced today that, subject to ratification of the tentative labour agreement between the Company and the United Steelworkers, the Company will proceed with capital investments totaling approximately $36 million to improve efficiency and recovery in its Houston, British Columbia sawmill.

The investment will include upgrades to primary and secondary breakdown lines and advancements in scanning and optimization technology.

"Our newly-strengthened fibre position in the Houston region allows us to proceed with this significant investment," said Canfor Corporation President and CEO Don Kayne. "These capital improvements are designed to ensure we are able to operate a world-class facility in Houston for the long term, in all market conditions."

Canfor Corporation recently announced a fibre exchange agreement with West Fraser Mills Ltd. which, when concluded, will see the Company add approximately 324,500 cubic metres of replaceable forest licence allowable annual cut in the Morice Timber Supply Area. Since 2010, the Company has invested more than $650 million in modernizing its British Columbia lumber, pulp and paper mills.

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