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VANCOUVER – Canfor Corp. announced that it was temporarily restricting sawmill operations in British Columbia by approximately 10% during the fourth quarter.
The Vancouver-based producer of forest products said the decision was made because of market conditions, including falling lumber prices, uncompetitive log costs, and supply problems. following a new season of forest fires.
General Manager, Don Kayne, said the company was striving to mitigate the impacts on employees "as much as possible".
Lumber production will be reduced by reducing the number of days of operation, including immediate short-term reductions in some facilities and extended downtime during vacations.
Canfor has 13 sawmills in Canada with a total annual capacity of approximately 3.8 billion board feet.
Lumber prices skyrocketed as US export duties were initially pbaded on to consumers, which then declined.
Companies in this article: (TSX: CFP)
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