Canfor Corporation announced Thursday that it will be indefinitely closing its Vavenby, Radium and Rustad sawmills once existing log inventories are utilized and finished products shipped.
This is expected to occur over June and July and may vary by operation. Approximately 570 employees will be impacted by the decision in Prince George, Radium Hotsprings and Vavenby.
The mills have a combined capacity of 560 million board feet of production on an annualized basis. This represents 11% of Canfor’s total lumber capacity. After considering the effect of this announcement, Canfor will be running at approximately 50 percent of total rated lumber capacity.
"These decisions are never easy, but are taken in the face of a market downturn that is unprecedented in terms of both duration and intensity. Canfor must continue to re-structure its production capabilities to match the demands of the market and ensure the needs of key customers continue to be met," said Canfor President and CEO Jim Shepard.
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