Canfor Corporation (TSX:CFP) announced today it will curtail operations at its Polar Sawmill located in Bear Lake British Columbia, north of Prince George, following an orderly wind-down. The curtailment is the result of a shortage of economically available fibre in the region and is expected to be in place for a period of approximately six months. The Company will continue to evaluate market conditions and fibre availability in the region and adjust operations accordingly.
https://www.canfor.com/investor-relations/investor-news-press-releases/news-detail/2023/11/14/canfor-announces-extended-curtailment-at-polar-sawmill
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Canfor Pulp Products Inc. is announcing a temporary curtailment of its Intercontinental Pulp Mill due to the lack of available economic fibre. Following its annual turnaround maintenance that began on September 24, 2022 and lasted for two weeks, the facility has implemented a two-week curtailment. Regular operations are expected to resume on October 24, 2022. In total the four weeks of downtime is reducing Canfor Pulp's production output by approximately 28,000 tonnes of market kraft pulp. "Despite strong global pulp markets, we are experiencing a shortfall of economic fibre in British Columbia. The fibre for pulp mills is increasingly constrained due to the impacts of the decreasing allowable annual cut, the end of the Mountain Pine Beetle epidemic, wildfires and reduced sawmill capacity in the province," said Kevin Edgson, President & CEO, Canfor Pulp. "We regret the impact of the downtime on our employees and are working to support them through this time."
Overview: •Q3 2021 reported operating income of $331 million driven by solid lumber segment results despite a sharp decline in North American lumber prices from prior quarter all-time highs • Record quarterly earnings for the Company’s European lumber operations • Shareholder net income of $210 million, or $1.68 per share • Cumulative cash deposits of $656 million on countervailing and anti-dumping duties at September 30, 2021. The Company reported operating income of $331.0 million for the third quarter of 2021 driven by solid earnings in both the lumber and pulp and paper segments. Compared to the second quarter of 2021, current quarter reported operating income was down $710.3 million, reflecting a material decline in lumber segment earnings from an all-time high in the previous quarter, and, to a lesser extent, moderately lower pulp and paper segment earnings.