Canfor Temporarily Curtailing Sawmill Operations in British Columbia during Q4
Nov. 2, 2018 (Press Release) - Canfor Corporation (TSX:CFP) announced today it will be curtailing sawmill operations in British Columbia (BC) during Q4 2018 due to log supply constraints, log costs and current market conditions. The curtailment is expected to reduce Canfor's BC production output by approximately 10% throughout the quarter.
“We have made the difficult decision to curtail our BC sawmill operations over the fourth quarter due to log supply challenges following another difficult wildfire season, uncompetitive log costs and declining lumber prices,” said Don Kayne, President and Chief Executive Officer. “We are working to mitigate impacts on our employees as much as possible.”
Lumber production will be reduced over the quarter through a decrease in operating days. This will be achieved through immediate short-term curtailments at some facilities, along with extended downtime at Christmas.
Canfor has 13 sawmills in Canada, with total annual capacity of approximately 3.8 billion board feet.