Brief: Western Announces Temporary Production Curtailments

Western Forest Products

23/03/2020 02:25

March 22 (Reuters) - Western Forest Products Inc  WEF.TO :
    * WESTERN ANNOUNCES TEMPORARY PRODUCTION CURTAILMENTS
    * WESTERN FOREST PRODUCTS - EFFECTIVE MARCH 23, WILL CURTAIL
MANUFACTURING FACILITIES CURRENTLY OPERATING IN BRITISH COLUMBIA
DUE TO COVID-19 PANDEMIC
    * WESTERN FOREST PRODUCTS INC - PLANNED CURTAILMENT IS
SCHEDULED
FOR UP TO ONE-WEEK
    * WESTERN FOREST -ONGOING CURTAILMENTS AT COWICHAN BAY,
LADYSMITH
SAWMILLS EXPECTED TO CONTINUE INTO Q2 DUE TO LIMITED LOG SUPPLY,
WEAK MARKET DEMAND
    * WESTERN FOREST PRODUCTS INC - WESTERN WILL ALSO TAKE STEPS
TO
MINIMIZE ITS PLANNED CAPITAL EXPENDITURES IN 2020
    * WESTERN FOREST PRODUCTS INC - GOING FORWARD DISCRETIONARY
CAPITAL WILL REMAIN ON HOLD UNTIL THERE IS GREATER OPERATIONAL
CERTAINTY
    * WESTERN FOREST PRODUCTS INC - COMPANY PLANS TO INCUR ONLY
SAFETY, ENVIRONMENTAL AND COMMITTED CAPITAL EXPENDITURES IN
NEAR-TERM

Source text for Eikon:  ID:nGNX982zh 
Further company coverage:  WEF.TO 

 ((Reuters.Briefs@thomsonreuters.com;))