CANFIBRE - To project finance California Urban MDF Plant.VANCOUVER, BC--(BUSINESS WIRE)--Oct. 10, 1995--The CanFibre Group Ltd. is pleased to announce the following developments relative to the planned construction of its first U.S. urban sited panel board plant designed to produce high quality MDF (1) (Main Distribution Frame) A wiring rack that connects outside lines with internal lines. It is used to connect public or private lines coming into the building to internal networks. from 100 percent waste fibre. - CanFibre has executed a 10 year waste fibre supply agreement with Apollo Wood Recovery Inc. of Fontana, California. The supply agreement guarantees the delivery to CanFibre's planned plant site of 140,000 tons of suitable waste wood on bankable bank·a·ble adj. 1. Acceptable to or at a bank: bankable funds. 2. Guaranteed to bring profit: a bankable movie star. terms. - As a result of an in depth feasibility study conducted by CanFibre, the greater L.A. area was chosen over the San Francisco Bay area “Bay Area” redirects here. For other uses, see Bay Area (disambiguation). The San Francisco Bay Area, colloquially known as the Bay Area or The Bay because of a number of economic factors related to power rates, fibre availability and waste generation. - CanFibre in association with ARB Inc., its designated preferred contractor, have current offers on two suitable plant sites in the Riverside County area. The final site selection is expected to be made following a technical review by CanFibre's development partner and general contractor. This review will be completed late in October. Both sites are existing, large industrial structures sited on sufficient acreage to allow expansion of CanFibre's planned initial plant, designed currently to produce 70 million square foot (3/4" basis) of the world's first MDF produced entirely from recycled fibre. - CanFibre is in the final stages of preparation of a takeout contract for the 10 year supply of the total L.A. plant production to Hanwa Kozai Co. Ltd. of Japan. The takeout contract is currently under final review by CanFibre's financial advisors, The Bank of Tokyo Financial Resources, and it is expected to be translated into Japanese and forwarded to Hanwa for review within the week. - CanFibre in conjunction with the Bank of Tokyo Financial Resources are currently finalizing pro forma As a matter of form or for the sake of form. Used to describe accounting, financial, and other statements or conclusions based upon assumed or anticipated facts. The phrase pro forma financial information required to format the project financing Project financing A form of asset-based financing in which a firm finances a discrete set of assets on a stand-alone basis. method for the CanFibre L.A. Plant. Meetings are scheduled for mid-October to review and finalize the financial pro formas and to arrive at a final decision on project funding methods. The common shares of CanFibre are quoted on the Canadian Dealing Network Canadian Dealing Network (CDN) The organized OTC market of Canada. Formerly known as the Canadian Over-the-Counter Automated Trading System (COATS), the CDN became a subsidiary of the Toronto Stock Exchange in 1991. , symbol - CFGL CFGL Community Foundation of Greater Lakeland (Lakeland, FL) CFGL Configuration List and on the United States O.T.C. Bulletin Board, symbol - CNFBF. CONTACT: CanFibre, 800/661-0288 or US Corporate Communications, 800/680-4940 |
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