VANCOUVER, BC, Sept. 19,
2022 /CNW/ - Canfor Corporation (TSX:CFP) is
announcing a temporary reduction in production in British Columbia (BC) due to challenging
market conditions. The production capacity will be reduced through
a two-week curtailment beginning September
26, 2022 at the majority of solid wood facilities in BC and
will be followed by the resumption of reduced operating schedules
until the end of 2022. This is expected to result in a reduction of
approximately 200 million board feet of production
capacity.
"We are temporarily curtailing production in BC due to
reduced market demand. We will leverage our global operating
platform to prioritize the requirements of our customers," said
Don Kayne, President and CEO,
Canfor.
To limit the impact on employees, they will have the
opportunity to work during the downtime to complete maintenance
projects and other site activities.
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.
About Canfor Corporation
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, Arkansas and Louisiana, as well as in Sweden with 70% interest in Vida Group.
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. For more information visit canfor.com.
SOURCE Canfor Corporation