Conifex cur­tails sawmill op­er­a­tions at Fort St. James

Conifex Tim­ber Inc. has cur­tailed sawmill op­er­a­tions at its Fort St. James, B.C., sawmill for two weeks, be­gin­ning on Nov. 12. It cites log costs and mar­ket con­di­tions.

Stockwatch Daily - - FRONT PAGE - Mr. Ken Shields re­ports

CONIFEX TIM­BER Inc. is tem­po­rar­ily cur­tail­ing sawmill op­er­a­tions at its Fort St. James, B.C., sawmill for a two-week pe­riod com­menc­ing Nov. 12, 2018, due pri­mar­ily to log costs and cur­rent lum­ber mar­ket con­di­tions. An ad­di­tional two-week cur­tail­ment is planned around the Christ­mas pe­riod, re­sult­ing in a to­tal re­duc­tion of ap­prox­i­mately 15 per cent of Conifex’s B.C. lum­ber pro­duc­tion for the quar­ter.

“We have made the dif­fi­cult de­ci­sion to tem­po­rar­ily cur­tail our Fort St. James sawmill in Q4 due to the com­bined im­pact of in­creas­ing log costs, de­te­ri­o­rat­ing log qual­ity as the avail­abil­ity of com­mer­cially vi­able moun­tain pine bee­tle tim­ber reaches an end, fall­ing lum­ber prices and puni­tive lum­ber ex­port duty im­po­si­tions,” said Ken Shields, chair and chief ex­ec­u­tive of­fi­cer. “We are work­ing on a pri­or­ity ba­sis to po­si­tion Fort St. James for long-term sus­tain­able pro­duc­tion in the lower lum­ber price and higher log cost en­vi­ron­ment we en­vis­age for the bal­ance of 2018 and 2019 and will be seek­ing to mit­i­gate the im­pacts on our em­ploy­ees as much as pos­si­ble.” About Conifex Tim­ber Inc. Conifex and its sub­sidiaries’ pri­mary busi­ness cur­rently in­cludes tim­ber har­vest­ing, re­for­esta­tion, for­est man­age­ment, sawmilling logs into lum­ber and wood chips, and value-added lum­ber fin­ish­ing and dis­tri­bu­tion. Conifex’s lum­ber prod­ucts are sold in the U.S., Chi­nese, Cana­dian and Ja­panese mar­kets. Conifex has ex­panded its op­er­a­tions to in­clude bioen­ergy pro­duc­tion fol­low­ing the com­mence­ment of com­mer­cial op­er­a­tions of its power gen­er­a­tion fa­cil­ity at Macken­zie, B.C.

We seek Safe Har­bor.

Pa­trick Ward Bell, John Michael Costello, Jim Jia, Ge­orge L Mal­pass, Ja­nine North, Tom Reed, David E Roberts, Ken­neth Alvin Shields

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