200 Million Board Feet to be Reduced by End of July
Vancouver, BC — Canfor Corporation (TSX:CFP) announced today it will be curtailing operations at all British Columbia sawmills, except WynnWood. The majority of mills will be curtailed for two weeks or the equivalent, with extended curtailments of four weeks at Houston and Plateau, and six weeks at Mackenzie. The curtailments are scheduled to run from June 17 through July 26.
The curtailments are due to very poor lumber markets and the high cost of fibre, which are making the operating conditions in BC uneconomic.
The curtailments will reduce Canfor’s production output by approximately 200 million board feet.
Following the previously announced closure of Vavenby in July, Canfor will have 12 sawmills in Canada, with total annual capacity of approximately 3.55 billion board feet.
Canfor is a leading integrated forest products company based in Vancouver, British Columbia (“BC”) with interests in BC, Alberta, North and South Carolina, Alabama, Georgia, Mississippi and Arkansas, as well as in Sweden with its recent majority acquisition of Vida Group. Canfor produces primarily softwood lumber and also owns a 54.8% interest in Canfor Pulp Products Inc., which is one of the largest global producers of market northern bleached softwood kraft pulp and a leading producer of high performance kraft paper. Canfor shares are traded on The Toronto Stock Exchange under the symbol CFP.