Canfor to Sell Shares in Peace Valley OSB Joint Venture to LP

Nov 28, 2012

Canfor Corporation (TSX: CFP) announced today that it has entered into a Letter of Intent with Louisiana-Pacific Corporation (NYSE: LPX) to sell Canfor’s 50 percent share in the Peace Valley Oriented Strand Board (OSB) joint venture in Fort St. John, B.C.  By completing this sale, LP will become the sole owner of the Peace Valley OSB mill.

“This transaction is part of Canfor re-profiling our assets to focus on lumber, pulp and paper manufacturing” stated Canfor President and Chief Executive Officer Don Kayne.  “We have enjoyed a very positive relationship with LP and will continue to provide fibre resource management for the Peace Valley facility.”

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