Canfor Temporarily Curtailing Production Capacity in BC
Canfor Corporation (“Canfor”) announced it will be temporarily curtailing operations at all British Columbia dimension mills effective April 29 due to low lumber prices and the high cost of fibre.
The curtailment will reduce Canfor’s production output by approximately 100 million board feet.
Canfor has 13 sawmills in Canada, with total annual capacity of approximately 3.8 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.
Pat Elliott – Vice President Corporate Finance & Strategy – Patrick.Elliott@canfor.com – (604) 661-5441
Source: Canfor Corporation