ARKANSAS (News release) -- Canfor Corporation will invest approximately $130 million to significantly upgrade and expand its sawmill and planer facility located in Urbana in Union County, Arkansas. The investment will capitalize on the abundant supply of high-quality fiber to enhance the manufacturing of high-value products, increase annual production at the facility by 115 million board feet, and result in a meaningful reduction in the facility's cost structure.
"We are excited to be investing in our Urbana facility with state-of-the-art technology to modernize the work environment for our valued employees and significantly increase our ability to produce sustainable wood products that will meet the growing needs of our customers," said Don Kayne, President and CEO, Canfor.
The upgrades include major improvements to the planer, sawmill and log yard and are expected to commence in the 3Q 2022 and will take approximately 18 months to complete. The facility will continue to operate while the modernization project is underway.
Canfor is a leading integrated forest products company based in Vancouver, British Columbia with interests in BC, Alberta, North and South Carolina, Alabama, Georgia, Mississippi, Arkansas and Louisiana, as well as in Sweden with 70% interest in Vida Group. Canfor produces primarily softwood lumber and also owns a 54.8% interest in Canfor Pulp Products Inc.
|
