Canfor Curtailing an Additional 75 Million Board Feet of Production Capacity in BC
Canfor Corporation (“Canfor”) announced additional operating curtailments which will reduce production capacity by 75 million board feet between September 3rd and the end of the year. Its Houston, Polar, Prince George and Fort St. John sawmills will be curtailed the week of September 3rd. In addition, Canfor’s Plateau and Houston mills will transition to a four-day work week in September, which will remain in effect until market and economic conditions support a return to the full operating schedule of five days per week.
The curtailments are due to the ongoing low price of lumber and the high cost of fibre, which are making the operating conditions in BC uneconomic.
These curtailments are in addition to all previously announced capacity reductions.
About Canfor Corporation
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. For more information visit canfor.com.
Pat Elliott – Vice President Corporate Finance & Strategy – Pat.Elliott@canfor.com – (604) 661-5441
Source: Canfor Corporation