Louisiana-Pacific announced that it has entered into a Letter of Intent with Canfor Corporation to acquire Canfor’s 50 percent share in the Peace Valley Oriented Strand Board (OSB) joint venture in Fort St. John, British Columbia.

Canfor Corp. has reopened its operations at Radium Hot Springs, BC, following a $38.5-million capital investment to upgrade the sawmill and build a new planer mill.

Canfor Corporation (TSX:CFP) officially reopened its operations at Radium Hot Springs, B.C. on October 29, following a $38.5-million capital investment to upgrade the sawmill and build a new planer mill. When the mill is running at full capacity in 2013, it is expected to produce 240 million board feet annually and directly employ 144 people.

Canfor Corporation posted net income of $4.5 million for the second quarter, reflecting an improved market for lumber sales and a big turn-around from the $16.2 million loss the company experienced in Q1 of this year.

Canfor Corporation reported net income attributable to shareholders ("shareholder net income") of $4.5 million, or $0.03 per share, for the second quarter of 2012, compared to a shareholder net loss of $16.2 million, or $0.11 per share, for the first quarter of 2012 and shareholder net income of $2.1 million, or $0.01 per share, for the second quarter of 2011.

Canfor Corporation reported a net loss attributable to shareholders ("shareholder net loss") of $16.2 million, or $0.11 per share, for the first quarter of 2012, compared to a shareholder net loss of $44.1 million, or $0.31 per share, for the fourth quarter of 2011 and shareholder net income of $7.0 million, or $0.05 per share, for the first quarter of 2011.

Canfor has completed the acquisition of the Tembec Industries Ltd. southern British Columbia interior wood products assets consisting of the Elko and Canal Flats sawmills and approximately 1.1 million cubic metres of combined Crown, private land and contract annual allowable cut.

BURNS LAKE, BC -- Logs awaiting processing at the destroyed Babine Forest Products sawmill are being hauled to other area sawmills, including Canfor in Houston, and West Fraser in Fraser Lake.

VANCOUVER, BC -- James Shepard, president and CEO of Canfor, plans to retire at the company’s next annual general meeting of shareholders, currently scheduled for May 5.

Canfor Corporation (TSX: CFP) today reported net income of $33.5 million for the third quarter of 2010, compared to $40.4 million for the second quarter of 2010 and $4.1 million for the third quarter of 2009.