VANCOUVER, BC - Canfor Corp. reported total net income of $32.5 million for the first quarter of 2010, compared to a net loss of $9.1 million for the fourth quarter of 2009 and a net loss of $69.9 million for the first quarter of 2009.
Lumber and pulp prices increased significantly in the first quarter of 2010, and were the major reason for the company's improved results for the quarter.
During the first quarter, the company reached a new four-year labor agreement with the United Steelworkers union which applies to 14 of Canfor's operations in British Columbia.
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