Business
Canfor to Invest in New Sawmill in Louisiana
Canfor to Invest in New Sawmill in Louisiana Canada NewsWire VANCOUVE...
About this update from Canfor Corporation
[{"type":"text","content":"\n \n \n \n Canfor to Invest in New Sawmill in Louisiana\n \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 Canada NewsWire\n \n \n \n \n \n VANCOUVER, BC\n \n ,\n \n June 8, 2021\n \n /CNW/ - Canfor Corporation (TSX: CFP) is excited to announce it will invest approximately\n \n $160 million USD\n \n to build a new, state-of-the-art sawmill near\n \n DeRidder, Louisiana\n \n . The Company is pleased to be receiving significant state and local incentives in support of the project. The facility will have an annual production capacity of 250 million board feet on a two-shift basis and will directly employ about 130 people plus create significant additional indirect jobs.\n \n \n \n \n \n \n \n \n \n The\n \n Louisiana\n \n facility will have manufacturing capacity and flexibility to produce a wide variety of high-value wood products for our customers. Startup is expected to commence late in the third quarter of 2022.\n \n \n The investment in\n \n Louisiana\n \n is in addition to the approximately\n \n $300 million\n \n of 2021 capital spending, including about\n \n $200 million\n \n for the solid wood and pulp operations in\n \n Western Canada\n \n and\n \n $100 million\n \n for the solid wood operations in the U.S. South.\n \n \n \"We are excited to grow our operating footprint with the greenfield project in\n \n Louisiana\n \n , which will increase our production capacity and allow us to meet the growing demands of our customers. We also continue to invest significant capital in our\n \n British Columbia\n \n and U.S. South facilities to ensure we sustain our top quartile operations and strategically grow our global operating platform,\" said\n \n Don Kayne\n \n , President and CEO, Canfor.\n \n \n \"Agribusiness remains one of our key industries for growing\n \n Louisiana's\n \n economy, and our state offers unique advantages that attracted Canfor here,\" said Governor\n \n John Bel Edwards\n \n ,\n \n State of Louisiana\n \n . \"This major new manufacturing project can resonate across the region's economy in a variety of ways. We welcome plans for this fo...