Canfor Closes Arkansas Acquisition, Welcomes New Iron Mountain Employees

Canfor Corporation is pleased to announce the completion of the acquisition from Arkansas Resolute El Dorado Inc., of its lumber manufacturing facility in Union County, Arkansas. The transaction, previously announced on May 1, 2024, is a strategic complement to the Company’s existing regional operations, including its adjacent El Dorado Laminating Plant and its nearby Urbana Sawmill.

Renamed as the Iron Mountain sawmill, this acquisition will create operational synergies with Canfor’s existing facilities, provide vertical integration opportunities with its two glulam plants and build further capacity near customers and markets in the US South.

“The acquisition, together with the intended investment and expansion in the mill, is a strategic opportunity for us,” said Lee Goodloe, President, Canfor Southern Pine. “As a growth-oriented forest products company, we see this as an opportunity to expand the depth and breadth of our manufacturing capabilities in Arkansas’ rich, high-quality wood basket and to provide customers with a more comprehensive product offering.”

“We warmly welcome our new Iron Mountain employees to Canfor,” Goodloe remarked, adding that “we also look forward to growing on our local engagement and to strengthening our relationships with the El Dorado community and all of Iron Mountain’s valued partners, suppliers and customers.”

About Canfor Corporation

Canfor is a global leader in the manufacturing of high-value low-carbon forest products including dimension and specialty lumber, engineered wood products, pulp and paper, wood pellets and green energy. Proudly headquartered in Vancouver, British Columbia, Canfor produces renewable products from sustainably managed forests, at more than 50 facilities across its diversified operating platform in Canada, the United States and Europe. The Company has a 70% stake in Vida AB, Sweden’s largest privately owned sawmill company and also owns a 54.8% interest in Canfor Pulp Products Inc. Canfor shares are traded on The Toronto Stock Exchange under the symbol CFP. For more information visit canfor.com.

Contact:

Mina Lauden – Vice President, Corporate Affairs – communicaitons@canfor.com – (604) 661-5225

Source: Canfor Corporation