Canfor Corporation is thrilled to announce a substantial investment of approximately $200 million in the construction of a cutting-edge manufacturing facility in Houston, British Columbia. This state-of-the-art facility, characterized by its cost-efficiency and high productivity, is set to boast an impressive annual production capacity of approximately 350 million board feet.

Don Kayne, President and CEO, shared his sentiments today:

"I am delighted to make this announcement here in British Columbia, where Canfor has proudly called home for the past 85 years. This project reflects yet another substantial commitment by our company to bolster our diversified operational capabilities, ensuring our continued ability to meet the demands of our global customers with high-value products.

This decision comes after a thorough evaluation of customer requirements and a meticulous assessment of the availability of economically viable resources in the region to support a successful investment. We are confident that we have the blueprint, the skilled workforce, and the expertise to construct an industry-leading facility that will shine a spotlight on the talents of British Columbia's workers, suppliers, and technological prowess.

Today's announcement reinforces our unwavering dedication to British Columbia and the Houston community. It enhances our capacity to supply the world with our sustainably produced, high-quality forest products while creating meaningful, family-sustaining employment opportunities right here in BC. With this project, we will continue to build upon our longstanding, cooperative relationships with Indigenous Nations in the area as we expand our business partnerships.

The project will kickstart with immediate commencement of detailed project engineering and necessary permitting procedures. Vendor and equipment selection will be finalized in early 2024, with demolition and site preparation slated for the spring. The planning, construction, and commissioning phases of the new facility are expected to span between 28 and 32 months, contingent on contractor availability and equipment lead times.

We are truly excited to embark on this pivotal journey to fortify our manufacturing capacity and eagerly anticipate collaborating with our partners to establish a world-class facility that will furnish our esteemed customers with the high-quality, environmentally conscious products that are in global demand."

Source:canfor.com

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