Canfor to Reduce Production at Southern US Operations

Due to persistent weak lumber markets, Canfor Corporation (“Canfor” or the “Company”) announced it will reduce production at its southern US operations. 

Canfor will indefinitely curtail one shift at its Darlington facility in South Carolina, and reduce operating hours at its Estill, South Carolina and Moultrie, Georgia locations. The company will also implement curtailments across other southern US operations to better align with market demand. These changes will reduce lumber production by approximately 215 million board feet on an annualized basis.

“The changes we are making today will better align production capacity in our US operations with current market conditions,” said Lee Goodloe, President, Canfor Southern Pine. “We regret the impact these changes will have on our employees and their families.”

The Company will continue to evaluate conditions on an ongoing basis and adjust operating rates to align with market demand.

About Canfor Corporation

Canfor is a global leader in the manufacturing of high-value low-carbon forest products including dimension and specialty lumber, engineered wood products, pulp and paper, wood pellets and green energy. Proudly headquartered in Vancouver, British Columbia, Canfor produces renewable products from sustainably managed forests, at more than 50 facilities across its diversified operating platform in Canada, the United States and Europe. The Company has a 70% stake in Vida AB, Sweden’s largest privately owned sawmill company and also owns a 54.8% interest in Canfor Pulp Products Inc. Canfor shares are traded on The Toronto Stock Exchange under the symbol CFP. For more information visit canfor.com.

Contact:

Mina Lauden – Vice President, Corporate Affairs – communicaitons@canfor.com – (604) 661-5225

Source: Canfor Corporation