It is not often you hear a company refer to a fourth quarter loss of 17 million dollars as a positive sign.
However, that’s exactly what Canfor President Jim Shepard is doing.
He notes even though that loss is more than triple the one his company suffered in the third quarter last year, it is also 213 million dollars less, than what it lost in the fourth quarter of 2008.
Thus Mr. Shepard says the worst of the recession-related lumber downturn appears to be over but he adds, despite improved pulp sales the industry is still being pulled down by the stagnant U-S housing market and the company is still in survival mode.
One positive note in his statement was confirmation that Canfor is focusing attention on markets in China and Southeast Asia, in the absence of U.S. demand.
That is turn has been sited as the key reason behind Canfor’s plans to reopen its Chetwynd sawmill this spring, in the wake of a two year shutdown.