Canfor's CEO Discusses Q1 2012 Results - Earnings Call Transcript

Canfor Corporation (CFPZF.PK)

Q1 2012 Earnings Call

April 27, 2012 11:00 a.m. ET

Executives

Don Kayne - President and Chief Executive Officer

Alan Nicholl - Chief Financial Officer

Alistair Cook - Senior Vice President, Wood Products Operations

Wayne Guthrie - Senior Vice President of Sales and Marketing

Analysts

Daryl Swetlishoff - Raymond James & Associates

Mark Kennedy - CIBC World Markets

Chris Damas - BCMI Research

Paul Quinn - RBC Capital Markets

Presentation

Operator

Good morning, ladies and gentlemen. Welcome to the Canfor Corporation First Quarter Results 2012 Conference Call. A recording of the call and a transcript will be available on Canfor’s website. During this call, Canfor’s Chief Financial Officer will be referring to a slide presentation that is available in the Investor Relations section of their website. Also the company would like to point out that this call will include forward-looking statements, so please refer to the press release for the associated risks and such statements.

I would now like to turn the meeting over to Mr. Don Kayne, President and CEO of Canfor Corporation. Mr. Kayne, Please go ahead.

Don Kayne

Thank you, operator and good morning everyone and welcome to Canfor’s conference call to discuss the company's first quarter results for 2012. Before I get started today I wanted to take few moments to reflect on the tragic explosion at Sinclar Group’s Lakeland Mill in Prince George on Monday night. Canfor holds a one-third ownership stake in Sinclar Group, so this incident is very very close to home.

24 employees from the mill were taken to hospital and 2 men have lost their lives to this tragedy. Of course are our concerns are with the entire Lakeland team and their families, most particularly those that were injured. We are also conscious of the fact that this is second serious fire in six months in the BC Interior sawmill. While it is much too early to speculate on the possible cause of the Lakeland fire, this combined with the recent explosion at Babine Forest Products in Burns Lake has caused to redouble our focus on safety.

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