Vancouver, British Columbia, Canada, 04 November 2008 – Canfor Corporation (TSX: CFP) announced today a production curtailment at its Taylor Pulp mill, in response to falling demand and prices in Asia over the past four weeks. The effect on production as a result of this curtailment will be approximately 5000 metric tons.
The curtailment will commence 10 November, with operations expected to resume 18 November. The company will take advantage of this downtime to perform maintenance work. “The temporary shutdown reflects the difficult market conditions facing pulp companies in British Columbia,” said Jim Shepard, Canfor president and CEO. “By taking steps like these, Canfor hopes to rebalance inventories while maintaining current customer commitments.”
Taylor Pulp is a bleached chemithermomechanical pulp (BCTMP) mill producing more than 200,000 metric tons per year of softwood and aspen BCTMP.
Canfor is a leading integrated forest products company based in Vancouver, British Columbia, with interests in manufacturing facilities 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 Canada. It also produces oriented strand board (OSB), plywood, 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 (TSX: CFP).