Canfor to Sell Howe Sound Pulp and Paper

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Canfor Corp., Vancouver, B.C., Canada, this past week announced that its Howe Sound Pulp and Paper Limited Partnership (HSPP) will sell all of its assets to Paper Excellence B.V. HSPP operates a pulp and paper mill at Port Mellon, B.C., with a production capacity of 400,000 metric tpy of NBSK pulp and 230,000 metric tpy of mechanical papers, and employs approximately 500 people. HSPP is owned by Canfor and Oji Paper Co., Ltd. of Japan. The transaction is subject to customary closing conditions and closing is expected during the third quarter of 2010.

Canfor is an integrated forest products company based in Vancouver with Canadian operations in British Columbia, Alberta, and Quebec, and in Washington state, North Carolina, and South Carolina in the U.S. The company produces softwood lumber, oriented strand board (OSB), remanufactured lumber products, and specialized wood products. Canfor also owns a 50.2% interest in Canfor Pulp Limited Partnership, which is one of the largest producers of northern softwood kraft pulp in Canada and a producer of high performance kraft paper.