Canfor announces additional cuts
Canfor Corporation reported that it is undertaking additional temporary reductions in production capacity due to the impact of COVID-19 on the price of lumber and demand.
“Canfor is experiencing a significant decrease in customer demand due to the global impacts of the COVID-19 pandemic, which has resulted in the difficult decision to take additional downtime in Canada,” said Canfor President and CEO Don Kayne. “Our top priority continues to be supporting our employees through this challenging time.”
Effective April 13, Canadian lumber production will be curtailed by approximately 100 million board feet through May 1, resulting in a total production run rate of approximately 30%. The reductions will be achieved by taking downtime at the majority of Canfor’s British Columbia sawmills.
Canfor Southern Pine operations in the United States, along with Swedish facilities, will continue to operate at less than full capacity with variable operating schedules and downtime, which will be adjusted to align production with market demand as required. The reduced operating rates are also expected to remain in effect through May 1.
As the global impacts of COVID-19 continue to evolve, there is the potential that further adjustments to operating plans may be required, Canfor said.
The Vancouver, British Columbia-based lumber and pulp producer announced previous production reductions in March.
“Canfor is experiencing a significant decrease in customer demand due to the global impacts of the COVID-19 pandemic, which has resulted in the difficult decision to take additional downtime in Canada,” said Canfor President and CEO Don Kayne. “Our top priority continues to be supporting our employees through this challenging time.”
Effective April 13, Canadian lumber production will be curtailed by approximately 100 million board feet through May 1, resulting in a total production run rate of approximately 30%. The reductions will be achieved by taking downtime at the majority of Canfor’s British Columbia sawmills.
Canfor Southern Pine operations in the United States, along with Swedish facilities, will continue to operate at less than full capacity with variable operating schedules and downtime, which will be adjusted to align production with market demand as required. The reduced operating rates are also expected to remain in effect through May 1.
As the global impacts of COVID-19 continue to evolve, there is the potential that further adjustments to operating plans may be required, Canfor said.
The Vancouver, British Columbia-based lumber and pulp producer announced previous production reductions in March.