Western Forest Products continues curtailments
Sep 25, 2008. /Lesprom.com/. Western Forest Products announced that various logging operations and sawmills will continue at curtailed levels during the 4Q 2008 and into 2009. Consequently, Western anticipates that operating levels in the remainder of 2008 will be approximately two thirds of those associated with normal markets.
Sep 25, 2008. /Lesprom.com/. Western Forest Products announced that various logging operations and sawmills will continue at curtailed levels during the 4Q 2008 and into 2009. Consequently, Western anticipates that operating levels in the remainder of 2008 will be approximately two thirds of those associated with normal markets. Demand for softwood lumber products for construction and home renovation in the U.S. is expected to remain low in 2009 as a result of the subprime mortgage fallout and reductions in housing starts. Other markets served by Western have produced insufficient demand to overcome the impact of the U.S. market downturn. Western has been managing harvesting, lumber production and inventories to match customer needs throughout 2008 and anticipates continuing this approach in 2009.
These actions have been taken in the face of the unusually depressed market for forest products. If such market conditions continue the Company may determine that further curtailments are required.
Western is an integrated Canadian forest products company and the largest coastal British Columbia woodland operator and lumber producer with an annual available harvest of approximately 7.5 million cubic metres of timber of which 7.3 million cubic metres is from Crown lands and lumber capacity in excess of 1.5 billion board feet from eight sawmills and four remanufacturing plants.