Canfor Temporarily Curtailing Production Capacity in BC

Canfor Corporation announced it will be temporarily curtailing operations at three British Columbia mills due to log supply constraints, log costs and current market conditions.

Canfor’s sawmill in Vavenby will be curtailed for six weeks from February 11 to March 22, 2019. In addition, Canfor’s sawmills in Houston and Mackenzie will be curtailed for one week each in Q1.

In combination, these curtailments will reduce Canfor’s production output by approximately 40 million board feet. This is in addition to the approximately 150 million board feet of production capacity that was curtailed by Canfor in Q4 2018 and early Q1 2019, as previously announced.

Canfor has 13 sawmills in Canada, with total annual capacity of approximately 3.8 billion board feet.

About Canfor

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 and Arkansas. 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.

Contact:

Michelle Ward, Director – Corporate Communications – communications@canfor.com – (604) 661-5225

Pat Elliott – VP, Corporate Finance and Strategy – Patrick.Elliott@canfor.com – (604) 661-5441

Source: Canfor Corporation