Interfor is curtailing lumber production across all regions in North America.
The 91茄子-based forest products company announced in a Wednesday, May 1 news release it plans to reduce its lumber production by approximately 175 million board feet between May and September of this year, which is just under 10 per cent of its normal operating stance.
This reduction is a temporary move, the release stated, which will impact all of Interfor鈥檚 operating regions through reduced operating hours, prolonged holiday breaks, reconfigured shift schedules and extended maintenance shut-downs.
The Grand Forks Gazette contacted Svetlana Kayumova, Senior Manager of Interfor鈥檚 Corporate Affairs & Communications for comment. She replied in an email the company was declining comment on this matter, adding the company was unable to disclose any further information on this announcement.
The release stated the reason for this reduction is due to persistently weak market conditions.
鈥淏enchmark lumber prices have continued to weaken since the beginning of the year, from already unsustainably low levels, as available supply has outstripped product demand,鈥� stated Ian Fillinger, Interfor鈥檚 President & CEO. 鈥淭his action will help bring Interfor鈥檚 production and the needs of our customers back into balance. It will also help to keep inventory levels in check as we move into the summer.鈥�
The company continues to monitor market conditions across all of its operations, adjusting production plans as needed, it stated.
The release cautioned some of these statements are forward-looking based on current market conditions and the company鈥檚 plans. It cautioned readers that actual results may vary from forward-looking statements in the announcement.
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