Canfor Announces Construction of New State-of-the-Art Greenfield Sawmill in Washington, Georgia

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.

Construction 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.

“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”.

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