In This Issue:

• Message from the CEO
• Corporate News
• Operations
• Log Harvesting
• Forestry & Engineering
• Environmental Management
• Manufacturing
• Safety
• Information Systems
• Calendar

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• News Top

Message from the CEO

As the first quarter of 2010 comes to a close, we continue to make progress in some segments of the group and, in others, we continue to look for ways to sustain operations.

The world marketplace in all our businesses continues to be fluid and one strength we do have, as a company, is our ability to change, adapt and survive within these new dynamics; however, it certainly is not getting any easier.

We have partnered with another Canadian aviation company and have C-FCLM going to work in Afghanistan, moving people and freight, for a initial nine-month term with a 12-month extension.

C-FXEC will continue operations in the off shore oil and gas business in Australia until the end of the year and C-FMAY is still on contract fighting fire in Australia.

C-FBSF will complete its contract with Helijet at the end of March, and it will be prepared for a firefighting contract in Greece, should we prove to be the successful bidder.

At this time, we have not found a home for either Mars water bomber or the Firewatch S-76 program and continue to have discussions inside and outside the Province.

We are continuing to liquidate lumber inventory and operate CML on a custom cut basis and will do so as long as we can find customers willing to have their logs processed at our facility.

Our harvesting operations will be consistent and we plan on a steady flow of logs into the marketplace throughout the year.

The transition from old growth to second growth on the BC Coast is going to be extremely difficult as we have very few manufacturing facilities that can economically produce low-cost, commodity lumber.

It is a sad fact that we will see more and more log exports on the coast to keep harvesting operations going and some of the forest industry working.

                                                               Wayne