Friday, September 15, 2023
Canfor Corporation further plans to expand its business by 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.
The company is pleased to finalize this announcement in British Columbia, where e Canfor has been headquartered for 85 years. This project represents a significant investment by the company to strengthen its diversified operating platform. This is an imitative by Canfor to further assure the constant delivery of high-value products that satisfy the demands of customers from all over the world. Speaking about the profits that come with the project Don Kayne, President and CEO said, “This decision comes following a comprehensive evaluation of customer requirements and a careful evaluation of the availability of economic fiber 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.
Today’s announcement underscores our ongoing commitment to British Columbia and the Houston community. It will strengthen our ability to provide our high-quality, sustainably produced forest products to the world, while providing good, family-supporting jobs here in BC. With this project, we will also be building on our long history of strong, collaborative relationships with Indigenous Nations in the area as we grow our business partnerships.”
The work will begin immediately on detailed project engineering and permitted requirements. The company informs that the 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. Don Kayne further expressed the company’s excitement about this new project and said, “We are very excited to be taking this important step to strengthen our manufacturing capacity and look forward to working with our partners to build a world-class facility that will supply our valued customers with the high quality, low carbon products that are in demand around the world.”