Canfor plans $145 million in capital spending in 2011
Dec 15, 2010. Canfor Corporation announced that, following a review with its Board of Directors, the company will be proceeding with a 2011 capital spending plan for its lumber business of $145 million, of which $120 million will be for improvement projects to its sawmilling facilities. The balance will be for maintenance projects. This is part of a three year strategic plan that calls for total investment in sawmill improvement projects of $300 million.
Dec 15, 2010. /Lesprom Network/. Canfor Corporation announced that, following a review with its Board of Directors, the company will be proceeding with a 2011 capital spending plan for its lumber business of $145 million, of which $120 million will be for improvement projects to its sawmilling facilities. The balance will be for maintenance projects. This is part of a three year strategic plan that calls for total investment in sawmill improvement projects of $300 million.
"This level of investment will secure our position in the top tier of competitiveness, and marks an exciting new chapter for Canfor," said Jim Shepard, Canfor President and CEO.
Canfor is a leading integrated forest products company based in Vancouver, British Columbia (BC) with operations in BC, ,Alberta, Quebec, Washington state, and North and South Carolina. The company produces primarily softwood lumber and also produces oriented strand board (OSB), remanufactured lumber products and specialized wood products.