Canfor Curtailing BC Production Capacity in December

Canfor Corporation (“Canfor”) announced it will be curtailing operations at all British Columbia sawmills at the end of December. All sawmills, with the exception of WynnWood, will be curtailed for two weeks from December 23 through January 3, with operations resuming on January 6. WynnWood will be curtailed for five days. The curtailments are due to the high cost of fibre and continued weak lumber markets, which are making the operating conditions in BC uneconomic.

“We deeply regret that our employees have been impacted by multiple curtailments in 2019, we know it has been a difficult year for our employees, contractors, their families and the local communities,” said Stephen Mackie, Senior Vice President, Canadian Operations, Canfor. “The curtailments are not a reflection on our hard-working employees or contractors. We appreciate all of their efforts and continued commitment to safety during these difficult times.”

These curtailments will remove almost 58 million board feet of production output and 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.

Contact:

Michelle Ward – Director Corporate Communications

Source: Canfor Corporation