Vancouver, British Columbia, Canada, 04 March 2009 –– Canfor Corporation (TSX:CFP) announced today that due to the continued falling demand and poor pricing for softwood lumber, with no indications of a market recovery in the near future, the company is reducing its production volume to reflect these realities. As a result, Canfor will be reducing workweek schedules at its Clear Lake, Rustad, Polar, and Vavenby sawmills. The company will be taking further curtailments at its Isle Pierre and Quesnel sawmills for a one week period, beginning 15 March 2009. In addition, effective 23 March 2009, the company will remove the third shift at its Isle Pierre operation. These curtailments will reduce Canfor’s annualized lumber production by approximately 284 million board feet.
Canfor is a leading integrated forest products company based in Vancouver, British Columbia, with interests in Alberta, British Columbia, and Quebec in Canada, and in North Carolina, South Carolina, and Washington in the United States. The company is the largest producer of softwood lumber in British Columbia, and it produces oriented strand board (OSB), remanufactured lumber products, and specialized wood products. Canfor also owns a 50.2% interest in Canfor Pulp Limited Partnership, which is one of the largest producers of northern softwood kraft pulp in Canada and a leading producer of high performance kraft paper. Canfor shares are traded on the Toronto Stock Exchange under the symbol CFP.