VANCOUVER, BRITISH COLUMBIA - 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.
"This investment shows how optimistic Canfor is about the future of our industry and this region," Canfor President and CEO Don Kayne said at the official reopening event October 31. "The mill has been totally reconfigured so it can produce high-quality lumber products for customers around the globe, and do so efficiently and competitively."
"Today is a dream come true for our village and the entire Columbia Valley," said Radium Mayor Dee Conklin. "I want to congratulate Canfor for its vision, and thank Don Kayne and his team for delivering this long-term commitment to our community."
"This is clear evidence of the success of innovative and progressive measures British Columbia has taken to strengthen our forest industry," Forests Minister Steve Thomson said. "Our government, in partnership with the Canadian government and the BC forest industry, has developed new markets and increased demand for our forest products - leading to jobs and economic benefits for families in communities like Radium Hot Springs."
Radium Hot Springs, a village of about 800 people located in the East Kootenays, is named after the hot springs in nearby Kootenay National Park. A popular tourist destination, its economy is also closely linked to the forest industry.
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