Canfor Corporation (TSX: CFP) announces that it has agreed to form a 50/50 joint venture with Tangshan Caofeidian Wood Industry Co. Ltd of China (TCW) to review the potential construction of a secondary manufacturing facility to be located at the deep water Caofeidian Port Tangshan City, Hebei Province, China. The parties will develop a business plan over the next several months to determine the capital necessary to construct the plant. Canfor will enter into a supply agreement with the joint venture.
“This is a strategic partnership that demonstrates our ongoing commitment to the Chinese market for lumber,” said Canfor President and CEO Don Kayne. "Building a secondary manufacturing facility at the Caofeidian Port will allow us to work closely with customers to grow the market and expand the range of applications for Canfor products in China.”
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