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آرشیو برچسب های: Canfor Pulp

Canfor Pulp reports results for second quarter of 2024

The Company reported an operating loss of $5.6 million for the second quarter of 2024, compared to an operating loss of $15.7 million for the first quarter of 2024.

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Canfor announces extended curtailment at Polar sawmill

Canfor Corporation recently announced it will curtail operations at its Polar Sawmill located in Bear Lake British Columbia, north of Prince George, following an orderly wind-down.

The curtailment is the result of a shortage of economically available fibre in the region and is expected to be in place for a period of approximately six months. The Company will continue to evaluate market conditions and fibre availability in the region and adjust operations accordingly.

“Unfortunately, BC is amongst the highest-cost operating jurisdictions in the world. With persistent weak market conditions and a shortage of cost-competitive fiber in the region, we simply don’t have enough economic fiber to support both of our Prince George-area mills through this winter. As a result, we are making the difficult decision to curtail operations at Polar to ensure continued operations at our other facilities in the region,” said Stephen Mackie, Executive Vice President, North American Operations.

“We know this will significantly impact our Polar employees, their families, our suppliers and the local community, who all rely on a healthy forest industry. We regret having to take this action and are committed to supporting our employees and their families during this difficult time. We will also continue to encourage government to work with industry, Indigenous partners and communities to address the challenges and uncertainty the industry is facing in accessing fiber in BC – the fiber that supports thousands of manufacturing jobs and creates the low-carbon products the world wants.”

The curtailment will remove approximately 140 million board feet of production over six months.

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Canfor Pulp Reports Results for Second Quarter of 2023

Canfor Pulp Products Inc. (CPPI) today reported its second quarter of 2023 results.

The Company reported an operating loss of $37.9 million for the second quarter of 2023, compared to an operating loss of $25.2 million for the first quarter of 2023. After taking into consideration a net $6.9 million inventory write-down in the current period, the Company’s adjusted operating loss was $31.0 million for the second quarter of 2023, compared to an adjusted operating loss of $21.6 million for the first quarter of 2023. These results, for the most part, reflect the impact of substantial global pulp pricing declines in the current quarter driven by elevated global market pulp producer inventory levels and weak global softwood pulp demand.

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Canfor Pulp’s Northwood Pulp Mill Resuming Production after BC Port Strike Ends

Canfor Pulp Products said that production will resume at its Northwood Pulp Mill in Prince George, British Columbia, Canada, this week.

On July 13, Canfor Pulp curtailed production at the Northwood Pulp Mill due to limited storage space for pulp products that could not be transported overseas as a result of the labour dispute at B.C. ports.

The downtime could have reduced the mill’s production capacity by about 11,000 tonnes of market kraft pulp per week.

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Canfor Pulp Temporarily Curtailing Northwood Pulp Mill Due to Ongoing Labour Dispute at B.C. Ports

Canfor Pulp Products is announcing the curtailment of its Northwood Pulp Mill in Prince George, British Columbia, Canada, effective July 13, 2023.

The curtailment is due to limited storage space for pulp products that cannot be transported overseas as a result of the ongoing labour dispute at B.C. ports.

The downtime is expected to remain in place for the duration of the labour dispute and will remove approximately 11,000 tonnes of market kraft pulp per week.

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Canfor Pulp Reports Results for First Quarter of 2023

Q1 2023 reported operating loss of $25 million; net loss of $19 million, or $0.29 per share
Global pulp market fundamentals softened late in the quarter amid uncertainty associated with rising pulp producer inventory levels
Improved pulp production despite ongoing fibre challenges and wind down of pulp line at Prince George Pulp and Paper mill
Subsequent to quarter-end, expanded and extended its operating loan facility and term debt

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