It was another rough few months for Canfor.
The company posted a $67-million operating loss according to its second-quarter report.
It’s mainly due to declining market conditions related to pulp.
Canfor posted a loss of 142 million dollars during the first quarter.
Chief Executive Officer, Kevin Edgson issued the following statement in a media release:
“Following our difficult decision to permanently close the pulp line at the Prince George Pulp and Paper mill, we had a smooth and efficient wind-down of the pulp line and an effective transition of slush pulp supply to our paper machine. We want to thank our employees for their unwavering commitment to safety along with their determination, dedication, and resilience to continue to strive for improved operating performance and reliability. Financially, this was a challenging quarter for the pulp business as declining global pulp market conditions weighed heavily on results. While we continue to navigate the current external challenges facing our pulp business, including News Release Canfor Pulp Products Inc. 1 the ongoing weak global pulp market fundamentals, we greatly appreciate our employees’ continued efforts in navigating through these difficult conditions.”
Canfor also made a note of its ongoing curtailments in the province including a permanent closure at its Chetwynd facility and a temporary shutdown at its Houston sawmill.
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