Interfor Announces Production Curtailments and Capital Expenditure Reductions

Interfor announced corporate initiatives to address the market conditions resulting from the COVID-19 outbreak. The company is planning to reduce capital expenditures by a total of $140 million in 2020 and 2021. Interfor also plans to temporarily curtail production by 35 million board feet per week, or 60% of its production capacity, across all of its operating regions for at least two weeks. The company plans to re-evaluate the curtailments regularly after the initial two week period.