Canfor falls on reducing output capacity in British Columbia

Canfor

20/09/2022 15:35

** Shares of Canfor Corp  CFP.TO  decline 4% to C$22.37
    ** The forest products company said on Monday it was
temporarily curtailing production in British Columbia due to
reduced market demand
    ** Production capacity will be reduced through a two-week
curtailment beginning Sept. 26 at the majority of solid wood
facilities in BC and will be followed by the resumption of
reduced operating schedules until the end of 2022
    ** CFP says curtailment expected to result in a reduction of
about 200 mln board feet of production capacity
    ** "To limit the impact on employees, they will have the
opportunity to work during the downtime to complete maintenance
projects and other site activities" - CFP
    ** CFP down 30% so far this year

 (Reporting by Arunima Kumar in Bengaluru)
 ((Arunima.Kumar@thomsonreuters.com; Twitter: https://twitter.com/Aru_Kumar94))