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Canfor to Close Clear Lake Lumber Operation
Vancouver, British Columbia, Canada, 22 September 2010 -- (Marketwire) -- Canfor Corporation (TSX:CFP - News) announced today that it will be permanently closing its Clear Lake lumber operation near Prince George, British Columbia, effective 13 January 2011. This decision stems from a combination of challenging markets due to the protracted downturn in new home construction in the United States, and lack of an conomical long-term fiber supply for the Clear Lake operation.

Approximately 185 employees will be affected by this decision, which will remove approximately 130 million board feet of production on an annualized basis. The closure is expected to result in a charge of approximately CAD 12 million to the company's net income for the third quarter.

"This decision in no way reflects the efforts of the workforce at Clear Lake. We would like to thank them for their efforts and we will strive to place impacted employees in other Canfor operations where possible," said Jim Shepard, Canfor president and CEO. "We remain committed to our highly-valued customer base, while being responsive to market demands and pressures."

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, as well as 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.


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