Canfor to reduce production amid weakening softwood lumber market

Mar 04, 2009. /Lesprom Network/. Canfor Corporation announced that due to the continued falling demand and poor pricing for softwood lumber with no indications of a market recovery in the near future, the Company is reducing its production volume to reflect these realities. As a result, Canfor will be reducing workweek schedules at its Clear Lake, Rustad, Polar and Vavenby sawmills, as the company informed Lesprom Network. The Company will be taking further curtailments at its Isle Pierre and Quesnel sawmills for a one week period, beginning March 15, 2009. In addition, effective March 23, 2009, the Company will remove the third shift at its Isle Pierre operation. These decisions will reduce Canfor's annualized lumber production by approximately 284 million board feet. Canfor is a leading integrated forest products company based in Vancouver, British Columbia (BC) with interests in BC, Alberta, Quebec, Washington state, and North and South Carolina. The Company is the largest producer of softwood lumber in British Columbia while also producing oriented strand board (OSB), remanufactured lumber products and specialized wood products.