Canfor spins pulp segment
February 20, 2006 By Pulp & Paper Canada
Canfor is spinning its pulp segment into a separate income trust. According to a report by the Vancouver Sun, obser…
Canfor is spinning its pulp segment into a separate income trust. According to a report by the Vancouver Sun, observers are speculating that the move is potentially the first step in consolidating the province’s Interior pulp industry under one umbrella.
Jim Shepherd confirmed the company’s intention to preserve 80% ownership in the trust, while the outstanding 20% will be disseminated amongst its shareholders.
The Vancouver Sun further reported that despite the pervasion of rumors that the business would be sold, Shepherd surprised the Prince George community by announcing the establishment of the new pulp company. Shepherd said the separate business is in line with the company’s objective of concentrating more heavily on solid wood products.
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