VANCOUVER, June 27, 2019 /CNW/ - Canfor Pulp Products Inc. (TSX:CFX) announced today it will be implementing phased summer curtailments in July and August at its Intercontinental and Northwood NBSK pulp mills in Prince George, British Columbia (BC). This is due to a significant deterioration in market conditions, in combination with fibre supply constraints and higher fibre costs resulting from recent sawmill curtailments across the BC industry. The curtailments will reduce Canfor Pulp's production output by approximately 75,000 tonnes of NBSK pulp. The Company intends to resume full production at Intercontinental and Northwood in September.
Canfor Pulp has three northern bleached softwood kraft pulp mills, one BCTMP mill, and one kraft paper mill in BC.
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. For more information visit canfor.com.
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]