Sino-Forest Delays Analyst Tour of China Facility to Await Panel’s Report

Sino-Forest Corp. (TRE), the tree- plantation owner targeted by short seller Carson Block, postponed an analyst tour of its Chinese operations until a committee reports on allegations it overstated production.

Sino-Forest said today in a letter to investors and analysts that it will wait for the independent committee’s report because “many” of the analysts who follow Sino-Forest aren’t able to resume coverage or comment publicly until then. The committee will likely require two to three months to finish its task, the Hong Kong- and Mississauga, Ontario-based company said.

“In the meantime, management’s overriding priorities are to maintain the operations of the business and to support the work of the independent committee and its advisers,” Sino- Forest said in the letter.

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- Posted: 2011-07-06 14:17:12

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