VANCOUVER - The Canfor (TSX:CFP) sawmill in Canal Flats, British Columbia, which has a two-shift production capacity of 180 million board feet, will permanently close in November 2015. Employees will be transferred to other sawmills.
The company anticipates the mill will cease operations on November 9, 2015.
"A lack of economically available fibre supply for our Canal Flats operation, combined with depressed market conditions in the oil and gas and lumber markets that it serves, have brought operating losses we can no longer sustain," said Canfor President and CEO Don Kayne. "We recognize this decision will be difficult for our employees and the community of Canal Flats, and we are committed to doing what we can to ease that transition."
An integrated forest products company based in Vancouver, BC with interests in Alberta, North and South Carolina, Alabama, Georgia and Mississippi, Canfor produces primarily softwood lumber and specialized wood products. Canfor also owns a 51.0% interest in Canfor Pulp Products Inc., one of the largest producers of market northern bleached softwood kraft pulp.
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