VANCOUVER, BRITISH COLUMBIA--(Marketwire - April 8, 2008) - Canfor Corporation (TSX:CFP) announced today that due to the continued falling demand and poor pricing for softwood lumber with no indications of a market recovery in the near future, the company is reducing its production volume to reflect these realities. As a result, Canfor will be reducing workweeks at a number of its operations. In addition, Canfor's PG Sawmill will move from 3 shifts to 2 and its Clear Lake finger joint operation from 2 shifts to 1. This decision will reduce Canfor's annualized lumber production by approximately 600 million board feet.
Forward Looking Statements
Certain statements in this press release constitute "forward-looking statements" which involve known and unknown risks, uncertainties and other factors that may cause actual results to be materially different from any future results, performance or achievements expressed or implied by such statements. Words such as "expects", "anticipates", "intends", "plans", "will", "believes", "seeks", "estimates", "should", "may", "could", and variations of such words and similar expressions are intended to identify such forward-looking statements. These statements are based on management's current expectations and beliefs and actual events or results may differ materially. There are many factors that could cause such actual events or results expressed or implied by such forward-looking statements to differ materially from any future results expressed or implied by such statements. Forward-looking statements are based on current expectations and the Company assumes no obligation to update such information to reflect later events or developments, except as required by law.
Canfor is a leading integrated forest products company based in Vancouver, British Columbia (BC) with facilities in BC, Alberta, Quebec, Washington state, and North and South Carolina. The company is one of the largest producers of softwood lumber in Canada while also producing Southern Yellow Pine lumber, oriented strand board (OSB), plywood, remanufactured lumber products and specialized wood products. Canfor also owns a 50.2% interest in Canfor Pulp Limited Partnership, which is one of the largest producers of northern softwood kraft pulp in Canada and a leading producer of high performance kraft paper. Canfor shares are traded on the Toronto Stock Exchange (TSX:CFP).
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Canfor Corporation - Media Contact
Manager, Public Affairs & Corporate Communications
Canfor Corporation - Investor