FORT ST. JOHN -- Canfor has announced it is exploring opportunities to support other lumber manufactures in the region following the announcement of sawmill closures in Fort St. John and Plateau.
In a press release, the company says they have ‘received several indications of interest’ from potential buyers and will be considering various options as discussions continue.
On September 4th, Canfor announced that a review of ongoing financial losses, challenges in accessing economic fibre, increased U.S. tariffs, and a weak lumber market led to the decision to shut down both operations by the end of 2024.
“As per normal business practice, further public disclosure will follow only if and when there is a material event to disclose,” said Canfor.
The announcement also had a warning about predictions for the future. These predictions use words like “expects,” “anticipates,” “projects,” and “intends,” and are based on what the management currently thinks will happen. However, the actual results might differ because of various risks and uncertainties.
Canfor says they assume ‘no obligation’ to update predictions unless the law says they have to.
This strategic move comes as Canfor continues to navigate the complex landscape of the forestry industry, and have previously emphasized a commitment to advocating for changes across British Columbia to help the industry ‘thrive in the future’.
