Canfor to build in China
Nov. 26, 2013, Vancouver - Canfor Corporation has agreed to form a 50/50 joint venture with Tangshan Caofeidian Wood Industry Co. Ltd of China to review the potential construction of a secondary manufacturing facility to be located at the deep water Caofeidian Port Tangshan City, Hebei Province, China. The parties will develop a business plan over the next several months to determine the capital necessary to construct the plant. Canfor will enter into a supply agreement with the joint venture.
"This is a strategic partnership that demonstrates our ongoing commitment to the Chinese market for lumber," said Canfor President and CEO Don Kayne. "Building a secondary manufacturing facility at the Caofeidian Port will allow us to work closely with customers to grow the market and expand the range of applications for Canfor products in China."
November 26, 2013 By Marketwired
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