Interfor Announces Indefinite Curtailment of Lumber Manufacturing Facilities
BURNABY, British Columbia -- INTERFOR CORPORATION (“Interfor” or the “Company”) (TSX: IFP) has announced today that it will indefinitely halt operations at its sawmills located in Meldrim, Georgia, and Summerville, South Carolina. This decision comes as a result of ongoing weak conditions in the lumber market.
Log deliveries will be stopped immediately, followed by a systematic wind-down of operations, which is anticipated to be completed by the end of the third quarter of 2024. Both sawmills specialize in producing kiln-dried Southern Yellow Pine dimensional lumber and together have an annual production capacity of 330 million board feet.
This indefinite curtailment will affect around 180 employees across both facilities. To help mitigate the impact on those affected, Interfor aims to provide work opportunities at other Company locations whenever feasible.
The anticipated effects of these curtailments on production volume for the remainder of 2024 were included in the temporary curtailment guidance mentioned in Interfor’s previous communications. However, due to the indefinite nature of these curtailments, the impact on lumber production is likely to extend beyond 2024, based on the current facts and circumstances.
The Company will keep a close watch on market conditions across all its operations and will adjust its production plans as necessary.
About Interfor
Interfor is a growth-focused forest products company operating in both Canada and the United States. With an annual lumber production capacity of approximately 5.0 billion board feet, the Company offers a wide range of lumber products to customers worldwide. For more details about Interfor, visit our website.
Investor Contacts
Rick Pozzebon, Executive Vice President & Chief Financial Officer
(604) 689-6804
Mike Mackay, Vice President, Corporate Development & Treasury
(604) 689-6846
Media Contact
Svetlana Kayumova, Senior Manager, Corporate Affairs & Communications
(604) 422-7329
Frequently Asked Questions
What is the reason for the curtailment at Interfor's facilities?
The curtailment is due to ongoing weak conditions in the lumber market.
How many employees will be affected by the curtailment?
Approximately 180 employees across both sawmills will be impacted.
What types of lumber do the sawmills produce?
Both sawmills produce kiln-dried Southern Yellow Pine dimensional lumber.
What is the annual capacity of the sawmills combined?
The combined annual capacity of the sawmills is 330 million board feet.
What support will Interfor provide to affected employees?
Interfor plans to offer work opportunities at other Company operations, where possible, to help mitigate the impact on affected employees.