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Canfor Announces Sale Agreement for Howe Sound Pulp and Paper
Vancouver, British Columbia, Canada, 15 July 2010 -- Canfor Corporation (CFP:TSX) announced today that Howe Sound Pulp and Paper Limited Partnership (HSPP) has entered into a purchase and sale agreement for the sale of all its assets to Paper Excellence B.V.

HSPP operates a pulp and paper facility at Port Mellon, British Columbia, capable of producing 400,000 metric tons of northern bleached softwood kraft (NBSK) pulp and 230,000 metric tons of mechanical paper, and employs approximately 500 people. HSPP is owned by Canfor and Oji Paper Co., Ltd. of Japan.

The transaction is subject to customary closing conditions and closing is expected during the third quarter of 2010.

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 NBSK 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.

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