Canfor Pulp Products Inc. Announces Production Curtailment

Canfor Pulp Products Inc. (“Canfor Pulp”) is announcing the curtailment of Prince George Pulp and Paper and Intercontinental Pulp for approximately four weeks starting July 6, 2020.

“We have made the difficult decision to temporarily curtail Prince George Pulp and Paper and Intercontinental Pulp due to the major global economic impacts of the COVID-19 pandemic and the shortage of economically viable fibre in the region,” said Canfor Pulp’s Chief Executive Officer Don Kayne.

The curtailment will reduce Canfor Pulp’s production output by approximately 38,000 tonnes of market kraft pulp and 12,000 tonnes of kraft paper.

Canfor Pulp has three Northern Bleached Softwood Kraft (“NBSK”) pulp mills, one Bleached Chemi-Thermo Mechanical Pulp (“BCTMP”) mill, and one kraft paper mill in BC.

About Canfor Pulp Products Inc.

Canfor Pulp Products Inc. (“Canfor Pulp” or “CPPI”) is a leading global supplier of pulp and paper products with operations in the central interior of British Columbia (“BC”) employing approximately 1,300 people throughout the organization. Canfor Pulp owns and operates three mills in Prince George, BC with a total capacity of 1.1 million tonnes of Premium Reinforcing Northern Bleached Softwood Kraft (“NBSK”) Pulp and 140,000 tonnes of kraft paper, as well as one mill in Taylor, BC with an annual production capacity of 230,000 tonnes of Bleached Chemi-Thermo Mechanical Pulp (“BCTMP”). Canfor Pulp is the largest North American and one of the largest global producers of market NBSK Pulp. CPPI shares are traded on the Toronto Stock Exchange under the symbol CFX. For more information visit canfor.com.

Contact:

Pat Elliott – Vice President Corporate Finance & Strategy – patrick.elliott@canfor.com – (604) 661-5441

Source: Canfor Pulp Products Inc.