Conifex extends same curtailment a second time, cites virus pandemic
May 1, 2020 | 10:44 am CDT
VANCOUVER, B.C. - Canadian lumber giant Conifex has extended its temporary production curtailment at its sawmill in Mackenzie, British Columbia. The curtailment will last for four weeks to June 1.
This is the second extension of the same curtailment. On April 6, it announced a two-week restriction. On April 16, it added on two weeks, extending it to May 3. Now, it has announced this one.
The company says its hand was forced by continued weakened global demand for forest products due to uncertainty caused by the COVID-19 pandemic. It says it is closely monitoring evolving market conditions and customer demand, while prioritizing employee health and safety.
Headquartered in Vancouver, Conifex (TSX: CFF) and its subsidiaries' primary business currently includes timber harvesting, reforestation, forest management, sawmilling logs into lumber and wood chips, and value-added lumber finishing and distribution. The comp's lumber products are sold in the Canadian, U.S., Chinese, and Japanese markets. Conifex's operations also include bioenergy production.
Earlier in the year, the company sold all three of its U.S. sawmills to Resolute Forest Products for $163 million.
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