VANCOUVER, British Columbia, Aug. 13, 2019 -- Conifex Timber Inc. (TSX: CFF) (“Conifex”) announced today that it is indefinitely curtailing operations at its El Dorado sawmill.
The curtailment is planned to be phased-in over the next 60 days.
The curtailment is expected to reduce Conifex’s US South lumber production by approximately 21 million board feet to the end of the year.
“We regret this difficult decision, however lumber prices are simply too modest to justify continued operations at a site that requires further capital expenditures to realize its potential as an efficient, modern mill,” said Ken Shields, Chair and CEO. “While our wish is to restart the mill as soon we can, our immediate priorities are to identity the scope of a Phase 2 capital investment to help better inform a re-start date,” Mr. Shields added.
About Conifex Timber Inc.
Conifex and its subsidiaries' primary business currently includes timber harvesting, reforestation, forest management, sawmilling logs into lumber and wood chips, and value added lumber finishing and distribution. Conifex's lumber products are sold in the United States, Chinese, Canadian and Japanese markets. Conifex has expanded its operations to include bioenergy production following the commencement of commercial operations of its power generation facility at Mackenzie, BC.