Canfor to Reduce its Canadian Production
The Vancouver based integrated forest products company Canfor Corporation will temporarily reduce its Canadian production due to weak market conditions. The production will be reduced through curtailments at all solid wood facilities in B.C. and Alberta. This represents a decrease of approximately 150 million board feet in December and January. The curtailments will start to be implemented on December 19, 2022 and will range from one to four weeks across its Canadian operations.
“Due to the significant decrease in demand for solid wood products and challenging economic conditions, we are temporarily curtailing production in Canada,” says Don Kayne, President and CEO, Canfor. “We will be working to mitigate the impacts on our employees by providing support and identifying meaningful work during the downtime.”
The company will continue to adjust operating rates to align with market conditions and anticipates the majority of its BC facilities will operate below full capacity in the New Year.
Canfor has interests in BC and Alberta as well as North and South Carolina, Alabama, Georgia, Mississippi, Arkansas and Louisiana, and in Sweden with 70 per cent interest in Vida Group. Canfor primarily produces softwood lumber and also owns a 54.8 per cent 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.