Conifex Timber Resumed Mackenzie Power Plant Operations
Rubber and Wood | 2021-01-07 12:35:27
Conifex Timber announced that it has commenced an insurance claim procedure to recover business interruption and repair and replacement costs.
By Paul Ploumis
SEATTLE (Scrap Monster): Conifex Timber Inc. provided key corporate update on resumption of plant operation and resignation of top executive.
The company provided update on resumption of operations at its power plant in Mackenzie, British Columbia. The press release said that it is working with engineers and external power consultants on available options to resume operations at the power plant. The company expects to resume power generation activity before the end of the current month. The operations at the power plant had faced disruption due to damage caused to the plant’s generator.
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Conifex Timber announced that it has commenced an insurance claim procedure to recover business interruption and repair and replacement costs. The claim is subject to customary deductibles, it said.
Further to the Normal Course Issuer Bid announced in end-November last year, the company purchased 584,400 shares during the previous month for cancellation.
The company announced that its Chief Financial Officer Jordan Neeser has submitted resignation, in order to pursue better opportunities. The resignation will be effective March 16, 2021. An update on the appointment of the nee Chief Financial Officer will be made along with the announcement of its Q4 2020 results, which is scheduled for 2nd March, 2021, the company press release noted.
