Canfor Announces $145 Million Capital Program for Lumber Business

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Canfor Corp., Vancouver, B.C., Canada, this week announced that, following a review with its board of directors, the company will be proceeding with a 2011 capital spending plan for its lumber business of $145 million, of which $120 million will be for improvement projects to its sawmilling facilities. The balance will be for maintenance projects. This is part of a three year strategic plan that calls for total investment in sawmill improvement projects of $300 million. "This level of investment will secure our position in the top tier of competitiveness, and marks an exciting new chapter for Canfor," said Jim Shepard, president and CEO.