VANCOUVER, B.C. — Canfor Corporation will be investing approximately $200 million to build a new state-of-the-art manufacturing facility in Houston, British Columbia.

This low cost, high efficiency facility will have an annual production capacity of approximately 350 million board feet.

Don Kayne, President and CEO, said: “I’m very pleased to be making this announcement in British Columbia, where Canfor has been proudly headquartered for 85 years. This project represents another significant investment by our company to strengthen our diversified operating platform and ensure that we can continue to deliver the high-value products that are in demand by our customers around the globe.

"This decision comes following a comprehensive evaluation of customer requirements and a careful evaluation of the availability of economic fibre in the region to support a successful investment. We believe we have the plan, the people and the know-how to build a best-in-class facility that showcases BC workers, suppliers and technology."

Work will begin immediately on detailed project engineering and permitting requirements. Vendor and equipment selection will be finalized in early 2024 with demolition and site preparation scheduled for the spring. Planning, construction, and commissioning of the new facility is expected to take between 28 and 32 months depending on contractor availability and equipment lead times.

Acquires sawmill in Sweden

The company also inested in a new facility in Sweden. VIDA AB, owned 70% by Canfor Corporation, announced Sept. 25 it will acquire a 50 million board foot sawmill from Ingarp Träskydd for 50 million SEK (CAD$6.0 million). The sawmill has the potential for expansion to 100 million board feet and the transaction is expected to close on October 3, 2023. The strategic acquisition marks a continued investment in the area around Vida's sawmills in Hjältevad and Vimmerby.