West Fraser Announces Curtailments in Response to COVID-19 Virus and Slower Lumber and Panel Markets

West Fraser has announced that in response to the COVID-19 virus and its negative impact on the lumber and panel markets that effective Monday March 23rd they are implementing curtailments of lumber production at both their Canadian and U.S. sawmills and temporarily suspending operations at their Quesnel B.C. plywood facility. West Fraser’s Western Canadian lumber mills will reduce 12 million board feet per week, roughly 18%. Their sawmills in the US South drop by 15 million board feet per week, approximately 24%. The temporary shut down of the Quesnel plywood mill will reduce production by 5,000 msf per week. All curtailments are scheduled to remain in place until at least April 6th. West Fraser has also announced that actions are underway to reduce capital spending for 2020 by $ 75 million by delaying and deferring of project which have not yet been stated.