Vancouver, British Columbia, Canada, 04 October 2010 –– Canfor Corporation (TSX:CFP) announces that, further to its news release of 15 July 2010, Howe Sound Pulp and Paper Limited Partnership (HSPP) has completed the sale of all its operating assets to Howe Sound Pulp and Paper Corporation, a newly formed subsidiary of Paper Excellence B.V.
The principal asset of HSPP was a pulp and paper facility at Port Mellon, British Columbia, capable of producing 400,000 metric tons of norther bleached softwood kraft pulp and 230,000 metric tons of mechanical paper. HSPP is equally owned by Canfor and Oji Paper Co., Ltd. of Japan.
Canfor is a leading integrated forest products company based in Vancouver, British Columbia, with operations in Alberta, British Columbia, and Quebec in Canada, and in North Carolina, South Carolina, and Washington in the United States. The company produces primarily softwood lumber and also produces oriented strand board (OSB), 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 under the symbol CFP.