Canfor Temporarily Curtailing Canadian Production Capacity
Canfor Corporation is announcing a temporary reduction in Canadian production due to very weak market conditions.
The production will be reduced through curtailments at all solid wood facilities in B.C. and Alberta. This will remove approximately 150 million board feet in December and January. The curtailments will start to be implemented on December 19, 2022 and will range from one to four weeks across its Canadian operations. The Company will continue to adjust operating rates to align with market conditions and anticipates that the majority of its BC facilities will operate below full capacity in the New Year.
“Due to the significant decrease in demand for solid wood products and challenging economic conditions, we are temporarily curtailing production in Canada. We will be working to mitigate the impacts on our employees by providing support and identifying meaningful work during the downtime.” said Don Kayne President and CEO, Canfor.
*Canfor is a leading integrated forest product company based in Vancouver, BC with interests in BC, Alberta, North and South Carolina, Georgia, Mississippi, Arkansas, and Louisiana, as well as in Sweden with 70% interest in Vida Group.
For more information visit canfor.com.