Canfor Corporation announced it will invest approximately USD 210 million to build a new sawmill complex in southern Alabama. Using leading technology, the new sawmill will have an annual production capacity of 250 million board feet on a two-shift basis and will provide a new, modern work environment for the approximately 130 people who will be employed directly, in addition to supporting significant indirect jobs. In alignment with sustainability goals and decarbonization targets, the facility design includes investment in a biomass-fueled lumber drying system.

Startup of the facility is anticipated in the third quarter of 2024. The new facility will replace the existing operation in the City of Mobile. Following the construction and startup of the new facility, an orderly wind down of the Mobile operation will be undertaken.

All current employees will have the opportunity to remain with the Company.