Ainsworth Announces New CFO
15.10.09
Vancouver, British Columbia – Ainsworth Lumber Co. Ltd. (TSX: ANS and ANS.WT) announced today that Chris Davies has been appointed Chief Financial Officer, effective November 2, 2009.
Prior to joining Ainsworth, Mr. Davies served as Vice President, Finance and Chief Financial Officer of MacDonald, Dettwiler and Associates Ltd.’s (MDA) Information Products Division. In addition to his nine-year tenure at MDA, he spent 16 years with KPMG’s Vancouver office, focusing on British Columbia’s forestry sector. Mr. Davies is a qualified ISO 9000 and ISO 14000 certification specialist and has performed numerous certifications of forestry operations and pulp and paper mills.
Ainsworth President and CEO Rick Huff said, “We are pleased to welcome Chris to the management team at Ainsworth. He brings a wealth of corporate finance experience and industry insight, and we expect he will quickly become a valuable contributor in his new role with our company.”
Mr. Davies succeeds Robert Allen, who has left the company. “We would like to thank Robert for his many contributions to Ainsworth over the years and we wish him well in all of his future endeavours,” said Mr. Huff.
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Forward-looking information provided in this news release relating to the Company’s future prospects are forward-looking information pursuant to National Instrument 51-102 promulgated by the Canadian Securities Administrators. The Company believes that expectations reflected in such information are reasonable, but no assurance is given that such expectations will be correct. Forward-looking information is based on the Company’s beliefs and assumptions based on information available at the time the assumption was made and on management’s experience and perception of historical trends, current conditions and expected further developments as well as other factors deemed appropriate in the circumstances. Investors are cautioned that there are risks and uncertainties related to such forward-looking information and actual results may vary. Important factors that could cause actual results to differ materially from those expressed or implied by such forward-looking information include, without limitation, factors detailed from time to time in the Company’s periodic reports filed with the Canadian Securities Administrators and other regulatory authorities. The forward-looking information is made as of the date of this news release and the Company assumes no obligation to update or revise them to reflect new events or circumstances, except as explicitly required by securities laws.
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For further information please contact:
Ainsworth Lumber Co. Ltd.
Suite 3194, Bentall 4
P.O. Box 49307
1055 Dunsmuir Street
Vancouver, B.C. V7X 1L3
Telephone: 604-661-3200
Facsimile: 604-661-3201
www.ainsworthengineered.com
Investor Relations Contact:
Bruce Gibson
bruce.gibson@ainsworth.ca