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Canfor Announces Construction of New State-of-the-Art Greenfield Sawmill in Washington, Georgia
Canfor Announces Construction of New State-of-the-Art Greenfield Sawmill in Washington, Ge...
About this update from Canfor Corporation
[{"type":"text","content":"\n\n\n\nCanfor Announces Construction of New State-of-the-Art Greenfield Sawmill in Washington, Georgia\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n\n\n\n\n\n\n\nCanada NewsWire\nVANCOUVER, Feb. 22, 2018\n\n\n\nVANCOUVER, Feb. 22, 2018 /CNW/ - The Board of Directors of Canfor Corporation (TSX:CFP) today approved the construction of a new, state-of-the-art sawmill in Washington, Georgia. The new sawmill, which will cost approximately US$120 million and have a production capacity of 275 million board feet, will employ best-in-class mill technology, capitalizing on an excellent fibre resource in the region to produce high-value dimension and specialty lumber products. Strategically located near the Company's existing glulam facility in Washington and the larger population centers in Athens and Augusta, the new mill will be able to draw on a strong and skilled employee base.\n\n\n \n \n\n \nConstruction will commence in the second quarter of 2018, with the official start-up projected for the third quarter of 2019. At full run rates, assuming 2017 market pricing, the sawmill is forecast to generate annual EBITDA of approximately US$35 million.\n\n\"This new mill supports our growth strategy and will provide strong economic returns over the cycle,\" said Canfor's President and CEO, Don Kayne. \"We are pleased to expand our presence in the community of Washington and look forward to providing additional high value products to our global customers\".\n\nForward Looking Statements\n\nCertain statements in this press release constitute \"forward-looking statements\" which involve known and unknown risks, uncertainties and other factors that may cause actual results to be materially different from any future results, performance or achievements expressed or implied by such statements. Words such as \"expects\", \"anticipates\", \"projects\", \"intends\", \"plans\", \"will\", \"believes\", \"seeks\", \"estimates\", \"should\", \"may\", \"could\", and variations of such words and similar expressions are intended to identify such forward-looking statements. These statements are based on manag...