Canfor takes market downtime due to poor market conditions

Jun 14, 2007. /Lesprom Network/. Canfor Corporation announced on June 13, 2007 that it will be taking a series of curtailments at a number of its sawmills and at its PolarBoard oriented strand board (OSB) mill and Tackama plywood plant due to continuing poor market conditions. These curtailments represent approximately 66.2 million board feet of lumber production, 14 million square feet of OSB (3/8” basis) and 8.5 million square feet of plywood (3/8” basis). In order to maintain customer service and continue to meet its program commitments, the company will implement a curtailment schedule commencing June 29 that will stagger mill downtime through to the second week of August. Employees will be encouraged to take summer holidays during this downtime. In addition to the PolarBoard and Tackama mills, curtailments will take place at Canfor’s Polar, Radium, Vavenby, Rustad, Chetwynd, Grande Prairie, Ft. St. John, Clear Lake and Daaquam sawmills. Canfor is a leading integrated forest products company based in Vancouver, British Columbia (BC) with interests in 33 facilities in BC, Alberta, Quebec, Washington state, and North and South Carolina. The company is the largest producer of softwood lumber in Canada while also producing oriented strand board (OSB), plywood, remanufactured lumber products and specialized wood products. Canfor also owns a 50.2% interest in Canfor Pulp Limited Partnership, which is one of the largest producers of northern softwood kraft pulp in Canada and a leading producer of high performance kraft paper. Canfor shares are traded on the Toronto Stock Exchange.