VANCOUVER, BC, Sept. 4,
2024 /CNW/ - Due to persistent weak lumber markets,
Canfor Corporation (TSX: CFP) today 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.
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 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.
SOURCE Canfor Corporation
