VANCOUVER, BC- Canfor Corp. will invest approximately $40 million in its Elko sawmill for upgrades and other improvements as part of a plan to increase productivity and profitability throughout the company. The project is expected to begin in the first quarter of 2013, with a projected completion date in the third quarter.
Late October Canfor 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 at that facility.
Located in the Kootenay region of British Columbia, the investment to Elko include upgrades to the sawmill, increased kiln drying capacity as well as the construction of a greenfield planer mill complex.
"These investments are aligned with our strategic investments in our Kootenay assets, and are necessary to ensure our Elko facility can operate competitively in all market conditions," Canfor CEO and President Don Kayne said in a statement.
The company said it has invested $372 million in its facilities over the past three years. This includes the restart of its Radium Springs and Vavenby mills, resulting in 305 new jobs. British Columbia's largest forest company, Canfor employs more than 3,500 people.
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