Canfor Corporation TSX : CFP

November 22, 2005 18:06 ET

Canfor Unveils Market Strategy for Asia

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - Nov. 22, 2005) - Today, Canfor Corporation (TSX:CFP) announced the completion of three significant initiatives as part of its Asia market strategy. Returning from a customer trip to China and Japan, Canfor President and CEO, Jim Shepherd, reported that Canfor has opened a marketing office in Shanghai. In addition to the opening of its new office, Canfor signed an historic Memorandum of Understanding (MOU) with the Chinese Academy of Forestry and the Shanghai School of Construction Engineering to establish a vocational program at the school to teach wood building practices to trades people in the area. As part of its continued efforts in the Japanese market, Canfor also announced the JadeStar™ lumber brand and its Team Japan supply chain group specifically focused on customers in that market.

"With these announcements, Canfor is putting into place the growth strategy outlined at our annual general meeting last spring, aimed at identifying potential emerging markets and aggressively developing them," Jim Shepherd said. "Our MOU with the Chinese Academy of Forestry and the Shanghai School of Construction are the first of their kind, where Canfor, along with its partner MiTek Asia, a significant supplier of fasteners and software for truss manufacturing, will provide the expertise to train trades people to work with wood. In addition, our office in Shanghai, will provide us with the people on the ground to foster relationships and establish Canfor as the preferred supplier of wood products in that market," Shepherd stated.

The second pillar of the strategy was for Canfor to increase market share and profitability by working closely with customers and responding to their needs. The development of the JadeStar™ brand of lumber incorporates the product characteristics specific to the Japanese market and will be supported by a dedicated group, Team Japan.

Canfor's MOU with the Chinese Academy of Forestry was signed during a ceremony in Beijing with Canfor President and CEO Jim Shepherd and the Academy's President, Madame Jiang Zehui, the sister of China's former Prime Minister Jin Jiamen. The agreement will have Canfor and its industry partner MiTek Asia, provide the school with the teachers and materials required to teach the local trades building practices in truss construction and building framing using wood.

Note: Photos for this release will be available on the CP picture wire via CCNMatthews.