Vancouver, British Columbia, Canada, 09 March 2010 -– Canfor Corporation (TSX:CFP) announced today that it has reached an agreement with the United Steelworkers union. The agreement was ratified by a majority of union members and affects 14 operations in British Columbia.

“This agreement sets a new positive tone for our industry. It provides some relief from the economic issues we are facing and a profit based performance bonus that will reward our hourly workers,” said Jim Shepard, Canfor president and CEO. “This sets the stage for enhancing the teamwork approach at Canfor that will lead to high performance at all of our operations,”  Shepard added.

The new agreement applies to approximately 2,300 Canfor employees and expires 30 June, 2013, .

Canfor is a leading integrated forest products company based in Vancouver, British Columbia, with operations in Alberta, British Columbia, and Quebec in Canada, and in North Carolina, South Carolina, and Washington in the United States. The company produces primarily softwood and also produces oriented strand board (OSB), remanufactured lumber products, and specialized wood products. Canfor also owns a 50.2% interest in Canfor Pulp Limited Partnership, which is one of the largest producers of northern softwood kraft pulp in Canada and a leading producer of high performance kraft paper. Canfor shares are traded on the Toronto Stock Exchange under the symbol CFP.