BOISE, Idaho - Engineered wood manufacturing giant Boise Cascade has unveiled its COVID-19 response plan. Major production curtailments are set to begin.
"Consistent with our core values, our focus and commitment remain with the health and safety of our associates, followed by business continuity,” said Nate Jorgensen, CEO. “We have implemented many measures in response to COVID-19, which are described on our website. Our Company is an essential link in the construction industry’s supply chain. However, we are seeing changes in a number of markets, which is impacting our customers and the markets they serve thus prompting adjustments in our business.”
“We are operating from a strong financial position, but we are taking necessary actions to reduce our production levels and costs in response to what we expect to be a significant decline in market demand over the next several months,” continued Jorgensen.
The company will reduce plywood production by 25-35 percent and engineered wood by 20-40 percent depending on location, and in comparison to first quarter levels. The reductions are expected to be implemented through a combination of periodic curtailments and reductions in operating schedules at specific facilities.
The company has also reduced its planned capital spending for 2020 from its previously expected range of $85-to-$95 million to $50-to-$70 million. All spending is being monitored.
Boise Cascade is one of the largest producers of engineered wood products and plywood in North America and a leading U.S. wholesale distributor of building products. Southern Veneer is a manufacturer of southern yellow pine plywood, veneer and wood by-products in the Southeastern United States.
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