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Canfor temporarily reducing Canadian production due to weak market conditions

The corporate logo for forest products producer Canfor Corp. is shown. THE CANADIAN PRESS/HO

VANCOUVER - Canfor Corp. is temporarily reducing its Canadian production due to what it says are very weak market conditions.

The Vancouver-based company says there will be curtailments at all of its solid wood facilities in B.C. and Alberta.

It says the move will reduce production by about 150 million board feet in December and January.

Canfor chief executive Don Kayne says the company will work to mitigate the affects on employees by providing support and identifying meaningful work during the downtime.

The curtailments will begin to be implemented on Dec. 19 and range from one to four weeks across its Canadian operations.

Canfor says it will continue to adjust operating rates to align with market conditions and anticipates that the majority of its B.C. facilities will operate below full capacity in the new year.

This report by The Canadian Press was first published Dec. 6, 2022.

Companies in this story: (TSX:CFP)

News from © The Canadian Press, 2022
The Canadian Press

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