Canfibre Breaks Ground on World's First Panel Board Plant to use 100 Percent Recycled Wood.TORONTO--(BUSINESS WIRE)--Sept. 10, 1997-- (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. , symbol:CFGL CFGL Community Foundation of Greater Lakeland (Lakeland, FL) CFGL Configuration List ) The CanFibre Group Ltd., together with State of California officials including Governor Pete Wilson For others named Pete Wilson, see . Peter Barton Wilson (born August 23, 1933) is an American Republican politician from California. Wilson served as the thirty-sixth Governor of California (1991–1999), the culmination of more than three decades in the public arena that , officially broke ground on the construction of a US$120 million 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 (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. ) facility which will be the first such facility in the world to produce MDF from 100 percent post-consumer waste Post-consumer waste is a waste type produced by the end consumer of a material stream; that is, where the waste-producing use did not involve the production of another product. wood. "This is a turning point in the forest products industry," says CanFibre President Christopher Carl. "The facility is unique because it produces a superior, high-value wood-based product without relying on the cutting of any trees, while being the lowest cost MDF producer in North America North America, third largest continent (1990 est. pop. 365,000,000), c.9,400,000 sq mi (24,346,000 sq km), the northern of the two continents of the Western Hemisphere. ." Carl noted that the facility will divert 155,000 tons of waste wood away from landfills and will result in the savings of an equivalent of 3,000 acres of tree harvest each year. The Riverside facility is the first of what is expected to be six such facilities to be constructed throughout North America. "The fact that CanFibre chose Riverside is a testament to California's economic resurgence and premier location for creating new manufacturing jobs," said California Governor Pete Wilson. "The new facility will complement the State's growing manufacturing sector. We're very delighted." Joining Chris Carl and Governor Wilson at the ceremony was CanFibre Chairman Ken Swaisland and the Directors of the Company; Riverside County Supervisor, Tom Mullen; Riverside Mayor Ronald Loveridge; State of California Assistant Treasurer Fred Smith; and key executives from CanFibre's corporate associates Enron Capital & Trade Resources, Stone and Webster Engineering, and Merrill Lynch; and more than 100 invited guests. Enron Capital & Trade Resources Chairman and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. Kenneth D. Rice said, "We are delighted to take part in this project and the opportunity to provide financial and energy resources to a retail industrial customer for the first time in California. This project creates more than 70 new jobs in the California while helping to preserve the environment." CanFibre was formed in 1992 to commercialize a technology to convert mixed dry waste such as waste wood, cardboard, and newspaper into Medium Density Fibreboard, a composite wood panel used for more than a decade in the manufacture of furniture, cabinets, and mouldings. Currently, CanFibre is preparing to finance its second facility in Lackawanna, NY, with four additional plants planned over the next four years. CanFibre engages in the worldwide development of manufacturing plants to produce high quality wood panel products such as medium density fibreboard (MDF) from 100 percent recycled dry waste. CanFibre MDF is North America's first "green" panel board. It is produced from materials normally dumped into landfills without the use of conventional Urea Formaldehyde resins, a growing concern for current MDF producers worldwide. The Canadian Dealing Network neither approves or disapproves the contents of this release. CONTACT: The CanFibre Group Ltd. Investor Relations Investor relations The process by which the corporation communicates with its investors. , 604/685-2430 416/695-3004 (FAX) Toll Free 1-800-661-0288 E-mail: canfibre@direct.ca |
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