VANCOUVER, Sept. 24, 2018 /CNW/ - Canfor Pulp Products Inc. (TSX:CFX) announced today that it will extend its scheduled maintenance outage on one production line at its Northwood Northern Bleached Softwood Kraft ("NBSK") Pulp mill located in Prince George, British Columbia ("BC"). The outage is to enable necessary tube replacements to its No. 5 recovery boiler to rectify damage discovered during routine preventative maintenance inspections.
Based on a preliminary review, the Company currently estimates that the extended downtime will be approximately 70-80 days with a reduction in production of NBSK pulp of 60,000-70,000 tonnes, as well as higher associated maintenance costs. Canfor Pulp will continue to operate the second production line at the Northwood Pulp mill over this period.
Due to the mitigation efforts by Canfor Pulp, the temporary outage is not expected to have a material impact on the financial condition of the Company.
Forward Looking Statements
Certain statements in this press release constitute "forward-looking statements" which involve known and unknown risks, uncertainties and other factors that may cause actual results to be materially different from any future results, performance or achievements expressed or implied by such statements. Words such as "expects", "anticipates", "projects", "intends", "plans", "will", "believes", "seeks", "estimates", "should", "may", "could", and variations of such words and similar expressions are intended to identify such forward-looking statements. These statements are based on management's current expectations and beliefs and actual events or results may differ materially. There are many factors that could cause such actual events or results expressed or implied by such forward-looking statements to differ materially from any future results expressed or implied by such statements. Forward-looking statements are based on current expectations and Canfor assumes no obligation to update such information to reflect later events or developments, except as required by law.
Canfor Pulp Products Inc. ("Canfor Pulp" or "CPPI") is a leading global supplier of pulp and paper products with operations in the central interior of British Columbia ("BC") employing approximately 1,300 people throughout the organization. Canfor Pulp owns and operates three mills in Prince George, BC with a total capacity of 1.1 million tonnes of Premium Reinforcing Northern Bleached Softwood Kraft ("NBSK") Pulp and 140,000 tonnes of kraft paper, as well as one mill in Taylor, BC with an annual production capacity of 220,000 tonnes of Bleached Chemi-Thermo Mechanical Pulp ("BCTMP"). Canfor Pulp is the largest North American and one of the largest global producers of market NBSK Pulp. CPPI shares are traded on the Toronto Stock Exchange under the symbol CFX.
SOURCE Canfor Pulp Products Inc.
For further information: Media Contact: Michelle Ward, Director, Corporate Communications, (604) 661-5225, [email protected]; Investor Contact: Pat Elliott, VP, Corporate Finance and Strategy, (604) 661-5441, [email protected]