Canfor curtailing an additional 75 million board feet of production capacity in Canada

Canfor Corporation announced additional operating curtailments which will reduce production capacity by 75 million board feet between 3 September and the end of the year.

Its Houston, Polar, Prince George and Fort St. John sawmills in Canada will be curtailed the week of 3 September. 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.

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.