VANCOUVER – Canfor’s board of directors has approved a $160-million capital investment program focused on Canfor’s U.S. South sawmill operations. The investment aims to increase production capacity by approximately 350 million board feet by the end of 2019.
A company statement says these investments will be focused on enhancing the firm’s high-value product offering by targeting a number of sawmill and planer modernization opportunities, along with increased drying capacity.
In addition, the forest products company is currently conducting a detailed viability study of a greenfield opportunity at one of several locations in the U.S. South. The mill capacity currently being considered is 250 million board feet. The study is expected to be completed in the first quarter of 2018, with a final decision to follow.
Canfor is an integrated forest products company based in Vancouver, with interests in B.C., Alberta, North and South Carolina, Alabama, Georgia, Mississippi and Arkansas. Canfor produces primarily softwood lumber and also owns a stake in Canfor Pulp Products Inc.