Canfor racks up $80 million in investment in the East Kootenay

by Keith Powell — May 16, 2013

Photo Elko planer mill during construction

Canfor Corporation is a company on the move in the East Kootenay. In addition to the estimated $40 million currently being invested in the Elko sawmill, Canfor just completed last fall the re-opening and top-to-bottom renovation and expansion of their long-shuttered Radium Hot Springs mill.

The Radium investment was billed at an estimated $38.5 million bringing Canfor`s total investment in the East Kootenay close to the $80 million mark.

“These investments are aligned with our strategic investments in our Kootenay assets, and are necessary to ensure our Elko facility can operate competitively in all market conditions,” said Don Kayne, president and CEO of Canfor Corporation.

This initial investment of $40 million into the Elko plant is part of a multi-year capital investment program aimed at enhancing productivity and cost performance across the company.

The Elko investment will include upgrades to the sawmill, increased kiln drying capacity as well as the construction of a greenfield planer mill complex.

“(These) investments show how optimistic Canfor is about the future of our industry and this region,” Kayne said at the official reopening of Radium on October 31, 2012. “The (Radium) mill has been totally reconfigured so it can produce high-quality lumber products for customers around the globe, and do so efficiently and competitively.” T

he Radium investment saw the previous sawmill completely renovated, the installation of a new planer mill and the addition of a new bio-mass energy plant.

The Elko expansion program is slated for completion later in 2013. Elko is located in the south country region of the East Kootenay approximately 75 kilometers south east of Cranbrook.

Canfor is the largest forest company in British Columbia and in the Kootenays, directly employing more than 3,500 people in the province in highly skilled, well paid and stable jobs. Over the last three years, the company has invested $372 million in our facilities in British Columbia.