CEO OF CONIFEX SAYS THE FUTURE OF THE FOREST INDUSTRY IS BRIGHT

Prince George, B.C.- Delegates at the Resources Expo 2010 heard a positive message Thursday afternoon in a workshop on the outlook for the forest industry.



Chairman and CEO of Conifex, Ken Shields says there are a number of factors coming together to produce a sustainable forest industry.

He says the cost of entering and making acquisitions in the business is quite low today compared to where it's been over the last few decades.

Shields says they see lumber markets going from being oversupplied for the last 3 to 4 years to a real tightness developing down the road which he thinks is going to lead to much firmer lumber prices over the next few years and a lot better cash flow for this industry.

He says there are tremendous opportunities in the Bio Energy Sector and says both the mills they own have potential for developments in this area.

Shields says there is a unique opportunity for producing and selling electricity at the recently acquired Mackenzie Mill where they already own a power broiler and a steam turbine generator, and their Fort St. James mill has the potential for both power and pellets.