Canfor announces earnings, acquisition

Canfor Corp. will acquire Arkansas’s El Dorado lumber plant from an affiliate of Domtar Corp. for $73 million. According to Canfor, it will raise the mill’s capacity to 175 million board feet per year through planned upgrades. Meanwhile, the Vancouver-based company narrowed its Q1 loss to $64.5 million, or $0.54 per diluted share, from $142.0 million or ($1.17) in the comparable period of last year. Sales for the quarter edged down to $1.38 billion from $1.39 billion.