Canfor Announces Additional Cuts to Production Worldwide

Canfor Corporation has announced additional production cuts due to the impact of the COVID-19 pandemic on the demand and price of lumber. Effective Monday, April 13th, Canfor’s Canadian lumber production will be curtailed by approximately 100 million board feet through May 1st. The cuts will result in a total production run rate of about 30% of capacity, as it takes downtime at the majority of its sawmills in B.C. The company says Canfor Southern Pine in the U.S. and the its Swedish facilities will continue to operate at less than full capacity with variable operating schedules and down time. The announcement follows cuts by Canfor, on March 26th, when they reduced Canadian lumber production by about 70 million board feet. Canfor says it will continue to assess operating rates on a weekly basis and will adjust as needed.