VANCOUVER, B.C. , Oct. 12, 2018 (GLOBE NEWSWIRE) — INTERFOR CORPORATION (“Interfor” or the “Company”) (TSX: IFP) today announced plans to temporarily reduce production across its operating platform in the BC Interior in Q4’18 due to a combination of declining lumber prices and escalating log costs. The curtailment is expected to reduce production in the region by approximately 20% during the quarter and will be taken by way of reduced operating days and extended weekends/holiday breaks.
Interfor has three sawmills in the BC Interior, with total annual capacity of approximately 750 million board feet.
This release contains information and statements that are forward-looking in nature, including, but not limited to, statements about the Company’s log procurement and lumber production. A statement Interfor makes is forward-looking when it uses what is known today to make a statement about the future. Such forward-looking statements are based on Interfor’s current expectations and certain assumptions, including assumptions regarding log and lumber prices. Such forward-looking statements involve known and unknown risks and uncertainties that, if they eventuate, may cause Interfor’s actual results to be materially different from those expressed or implied by those forward-looking statements. Such risks and uncertainties include, among other things, lumber price volatility, availability and cost of log supply, natural or man-made disasters and other factors referenced in Interfor’s 2017 annual Management’s Discussion & Analysis under the heading “Risks and Uncertainties”, which is available on www.sedar.com and on www.interfor.com. Readers are cautioned not to place undue reliance on forward-looking information or statements. Interfor undertakes no obligation to update such forward-looking information or statements, except as required by law.
Interfor is a growth-oriented lumber company with operations in Canada and the United States. The Company has annual production capacity of approximately 3.1 billion board feet and offers one of the most diverse lines of lumber products to customers around the world. For more information about Interfor, visit our website at www.interfor.com.
For further information:
Martin L. Juravsky, Senior Vice President & Chief Financial Officer