CanFibre Receives Lackawanna Building Permit.TORONTO--(BUSINESS WIRE)--July 22, 1998--The CanFibre Group Ltd. (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. :CFGL CFGL Community Foundation of Greater Lakeland (Lakeland, FL) CFGL Configuration List .) is pleased to announce that it has recently received the final building permit necessary for the construction of the CanFibre of Lackawanna Medium Density Fibreboard fibreboard Noun a building material made of compressed wood Noun 1. fibreboard - wallboard composed of wood chips or shavings bonded together with resin and compressed into rigid sheets fiberboard, particle board facility. The required environmental permits have already been received. Resulting from the issuance of the permit, site clearing activity commenced July 6, 1998 and building footings and pilings commenced July 20, 1998. "Getting these activities under way now ensures we will have the building enclosed en·close also in·close tr.v. en·closed, en·clos·ing, en·clos·es 1. To surround on all sides; close in. 2. To fence in so as to prevent common use: enclosed the pasture. before winter providing less opportunity for weather related construction delays," says CanFibre President Christopher D. Carl. "Commencing construction of our second 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. manufacturing facility within a year is a very significant event for the Company," added Carl. CanFibre, together with the operator Stone and Webster Webster, town (1990 pop. 16,196), Worcester co., S Mass., near the Conn. line; settled c.1713, set off from Dudley and Oxford and inc. 1832. The chief manufactures are footwear, fabrics, and textiles. Operating Corp., has recently recruited Kurt T. Williams as the Plant Manager for the site. Mr. Williams has more than 15 years experience most recently with Willamette Industries, operating MDF mills, with a significant concentration on using urban waste wood. By hiring the new mill manager now, critical experience from the plant start-up in Riverside California will be gained and utilized in the Lackawanna facility. To ensure the remainder of the project progresses as planned, CanFibre is continuing to work toward financial closing which is expected to be completed over the next several weeks. Completion of the Lackawanna facility will bring CanFibre's North American North American named after North America. North American blastomycosis see North American blastomycosis. North American cattle tick see boophilusannulatus. MDF production capacity to over 150 million square feet per year. Monitor www.canfibre.com for ongoing updates and site pictures. CanFibre engages in the worldwide development of manufacturing plants to produce high quality medium density fibreboard (MDF) from 100 percent recycled dry waste without using conventional urea formaldehyde formaldehyde (fôrmăl`dəhīd'), HCHO, the simplest aldehyde. It melts at −92°C;, boils at −21°C;, and is soluble in water, alcohol, and ether; at STP, it is a flammable, poisonous, colorless gas with a suffocating resins. CanFibre MDF is North America's first ALLgreen TM panelboard and is produced from materials normally dumped into landfills. Shares outstanding: 36.6 million The foregoing contains forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. which are subject to contingencies and uncertainties. Such forward looking statements are not guarantees of future performance, and are based on numerous assumptions about future conditions that could prove to be inaccurate. Actual events, transactions, and results may differ materially from anticipated events, transactions or results described in such statements. Material uncertainties about the future of the company exist. There can be no assurance that funding will be obtained for the proposed facilities, or that they will be constructed or operated as contemplated, or that the market for the products of any facilities will be as assumed.
CONTACT: The CanFibre Group Ltd.
(A member of the Kafus Group
of Companies), 800/661-0288
email: canfibre@direct.com
website: www.canfibre.com
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