VANCOUVER, Sept. 9, 2015 /CNW/ - Canfor Corporation
(TSX:CFP) announced today the permanent closure of its sawmill in
Canal Flats, British Columbia,
which has a two-shift production capacity of 180 million board
feet. The Company anticipates the mill will cease operations on
November 9, 2015. All employees
impacted by the closure will be offered opportunities to transfer
to other divisions of the Company.
"A lack of economically available fibre supply for our
Canal Flats operation, combined
with depressed market conditions in the oil and gas and lumber
markets that it serves, have brought operating losses we can no
longer sustain," said Canfor President and CEO Don Kayne. "We recognize this decision will be
difficult for our employees and the community of Canal Flats, and we are committed to doing
what we can to ease that transition."
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 and Mississippi. Canfor produces primarily
softwood lumber and specialized wood products. Canfor also
owns a 51.0% interest in Canfor Pulp Products Inc., which is one of
the largest producers of market northern bleached softwood kraft
pulp and a leading producer of high performance kraft paper and
also produces bleached chemi-thermo mechanical pulp. Canfor shares
are traded on the Toronto Stock Exchange under the symbol
CFP.
SOURCE Canfor Corporation