Canfor confirms $40 million investment in Elko mill

Earlier this month, Canfor Corporation announced it was going ahead with a $40 million investment in its Elko sawmill.

Earlier this month, Canfor Corporation announced it was going ahead with a $40 million investment in its Elko sawmill.

The company, which earlier this year acquired the assets formerly owned by Tembec, said the investment is part of a multi-year capital investment program aimed at enhancing productivity and cost performance across the company.

The Elko sawmill is located 65 kilometres east of Cranbrook.

Canfor said the Elko investment will include upgrades to the sawmill, increased kiln drying capacity and construction of a greenfield planer mill complex. The capital project will commence in the first quarter of  2013. Completion is anticipated in the third quarter.

“These investments are aligned  with our strategic investments in our Kootenay assets, and are necessary to ensure our Elko facility can operate competitively in all market conditions,” said Don Kayne, President and CEO of Canfor Corporation.

Canfor is the largest forest company in British Columbia, directly employing more than 3,500 people in B.C. Over the last three years, the company has invested $372 million in its B.C. facilities including the restart of the Radium and Vavenby mills.

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