Canfor Corporation announced it 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. The investment aligns with Canfor's growth and diversification strategy to keep pace with growing customer demand.

The upgrades include major improvements to the planer, sawmill and log yard and are expected to commence in the third quarter of 2022 and will take approximately 18 months to complete. The facility will continue to operate while the modernization project is underway.