Vancouver, British Columbia, Canada 14 December 2018 -- Canfor Corporation (TSX:CFP) announced today it will be extending its temporary curtailment at sawmills in British Columbia (BC) and will be reducing operating hours at some sawmills throughout Q1 2019. This decision is due to a continuing decline in lumber prices, in addition to high log costs and log supply constraints.
The curtailment extension and reduction in operating hours is expected to reduce Canfor's production output by an additional 55 million board feet in Q1. The sawmills are scheduled to resume production on January 7, 2019.
Canfor has 13 sawmills in Canada, with a total annual capacity of approximately 3.8 billion board feet.
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. Canfor produces primarily softwood lumber and also owns a 54.8% interest in Canfor Pulp Products Inc., which is one of the largest global producers of market northern bleached softwood kraft pulp and a leading producer of high performance kraft paper. Canfor shares are traded on The Toronto Stock Exchange under the symbol CFP.