Canfor Pulp Products Inc. (CFX.UN) 2010年年度报告「TSX」.pdf

1、MORE VALUELESS IMPACTCanfor PulP ProduCts inC.annual rEPort 20102MessagetoShareholders3FinancialHighlights4Operations6OwnershipStructure7ManagementsDiscussionandAnalysis9CanforPulpIncomeFund11 RisksandUncertaintiesRelatedtotheStructureoftheFund14CanforPulpLimitedPartnership15SelectedAnnualInformatio

2、n16OperatingResultsbyBusinessSegment20SummaryofFinancialPosition20FinancialRequirementsandLiquidity22RelatedPartyTransactions24 RisksandUncertaintiesRelatedtotheBusinessandIndustry27CriticalAccountingEstimates32 CanforPulpLimitedPartnershipSupplementaryFinancialInformation32DistributableCashandCashD

3、istributions34ConsolidatedFinancialStatements63Directors,Officers,andManagementTeam64CompanyInformationtaBlE of ContEntsCAnfOR PULP PROdUCTS InC.AnnUAL REPORT 20101OUR UnIqUE fIbRE AdVAnTAgE in terms of high strength,secure supply,and proximity to the forest resource has historically allowed us to c

4、onsistently deliver more value.Today,we are creating further competitive advantage by making targeted capital investments in our three mills,leveraging the proximity of our mills,and building a green energy business to deliver higher margins and a more stable revenue base.Equally important is our go

5、al to have less impact on the environment in the communities in which we participate.We see our environmental goals as complementary to our economic goals with both being critical to our long-term successes.MORE VALUE,LESS IMPACT.for more information on our goal to have less impact,please see our Su

6、stainability Supplement 2010,available on our website at .2010 was an exciting and highly successful year for Canfor Pulp.Strong softwood pulp markets combined with record operating rates and effective cost control measures propelled the Partnership to a record annual financial performance.Annual sa