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Canfor says it has formed a joint venture with a Chinese partner and is considering building a plant at deep-water port in China’s Hebei province (./.)
Canfor says it has formed a joint venture with a Chinese partner and is considering building a plant at deep-water port in China’s Hebei province (./.)

Canfor eyes building plant at deep-water port in China’s Hebei province Add to ...

Canfor Corp. (TSX:CFP) says it has agreed to form a 50-50 joint venture in China that will look at the potential for building a secondary manufacturing plant at a deep-water port on the northeast coast.

The Vancouver-based lumber producer is considering locating the plant about 275 kilometres southeast of Beijing at Caofeidian Port, near the city of Tangshan.

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Canfor’s joint venture partner is Tangshan Caofeidian Wood Industry Co. Ltd of China. Financial terms of their partnership weren’t disclosed.

The company, one of British Columbia’s largest forest products producers, reached a tentative five-year labour contract with the United Steelworkers union.

Canfor announced last month that it would permanently close a sawmill in Quesnel, B.C., due to a lack of timber. It continues to operate more than a dozen mills in the province.

Another Vancouver-based company, West Fraser Timber (TSX:WFT), has said there continues to be strong demand in China for lumber – albeit in new markets as housing construction moves further inland.

 
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