Canfor to Purchase Tembec’s British Columbia Southern Interior Wood Products Assets

Nov 28, 2011

Canfor Corporation (TSX:CFP) announced today that it has signed an agreement to acquire Tembec Industries Ltd.'s (Tembec) southern British Columbia (BC) interior wood products assets, for a purchase price including working capital of $60 million. Canfor will purchase Tembec's Elko and Canal Flats sawmills and approximately 1.1 million cubic metres of combined Crown, private land and contract annual allowable cut. The transaction will include a long-term agreement to provide residual fibre supply for Tembec's Skookumchuck mill.

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