Vancouver, British Columbia, Canada 01 December 2017 -- Canfor Pulp Products Inc. (TSX:CFX) announced today that it has taken a temporary and unscheduled outage on one production line at its Northwood Northern Bleached Softwood Kraft ("NBSK") Pulp mill located in Prince George, British Columbia ("BC"), as a result of a tube leak in the number five recovery boiler.
Canfor Pulp anticipates the number five recovery boiler to be down for approximately two weeks, and is currently projecting 15,000 tonnes of reduced NBSK pulp production during the fourth quarter 2017, as well as higher associated maintenance costs and lower projected shipment volumes.
To mitigate the impact of the incident, Canfor Pulp is continuing to operate the second production line at the Pulp mill and will advance certain mill maintenance activities previously scheduled to be performed in the first quarter of 2018.
Due to mitigation efforts by Canfor Pulp the temporary outage is not expected to have a material impact on the financial condition of the Company. The company will be making a claim under its insurance program.
Forward Looking Statements
Certain statements in this press release constitute "forward-looking statements" which involve known and unknown risks, uncertainties and other factors that may cause actual results to be materially different from any future results, performance or achievements expressed or implied by such statements. Words such as "expects", "anticipates", "projects", "intends", "plans", "will", "believes", "seeks", "estimates", "should", "may", "could", and variations of such words and similar expressions are intended to identify such forward-looking statements. These statements are based on management's current expectations and beliefs and actual events or results may differ materially. There are many factors that could cause such actual events or results expressed or implied by such forward-looking statements to differ materially from any future results expressed or implied by such statements. Forward-looking statements are based on current expectations and Canfor assumes no obligation to update such information to reflect later events or developments, except as required by law.
Canfor Pulp Products Inc. is a leading global supplier of pulp and paper products with operations in the central interior of British Columbia ("BC") employing approximately 1,300 people throughout the organization. Canfor Pulp owns and operates three mills in Prince George, BC with a total capacity of 1.1 million tonnes of Premium Reinforcing Northern Bleached Softwood Kraft ("NBSK") Pulp and 140,000 tonnes of kraft paper, as well as one mill in Taylor, BC with an annual production capacity of 220,000 tonnes of Bleached Chemi-Thermo Mechanical Pulp ("BCTMP"). Canfor Pulp is the largest North American and one of the largest global producers of market NBSK Pulp. CPPI shares are traded on the Toronto Stock Exchange under the symbol CFX.