VANCOUVER - Canfor Corporation (TSX:CFP) announced today that, further to its news release issued August 1, 2014, the Company has completed the purchase agreement for the operating assets of Beadles and Balfour Lumber Companies. The transaction includes two sawmills located in Thomasville and Moultrie, Georgia and is structured with 55% being acquired upon completion of the agreement and the balance after a two year period.
"The Beadles and Balfour sawmills are strong performing assets located in an area with a high-quality and sustainable supply of fibre," said Canfor President and CEO Don Kayne. "We are looking forward to working with the management teams at Balfour and Beadles to continue to produce high-quality southern yellow pine lumber."
Canfor is a leading integrated forest products company based in Vancouver, British Columbia (BC) with operations in BC, Alberta, North and South Carolina and Alabama. Canfor produces primarily softwood lumber, and also produces bleached chemi-thermo-mechanical pulp and specialized wood products. Canfor also owns a 50.5% interest in Canfor Pulp Products Inc., which is one of the largest producers of northern softwood kraft pulp in Canada and a leading producer of high performance kraft paper. Canfor shares are traded on the Toronto Stock Exchange under the symbol CFP.
SOURCE Canfor Corporation
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