Conifex to Curtail Production at Mackenzie, B.C. Sawmill

SEATTLE (Scrap Monster): Vancouver, B.C.-based Conifex Timber Inc. provided key operational update regarding its B.C. sawmill operartions and announced the details of third quarter 2022 results conference call.

The company press release noted that it has decided to temporarily curtail its Mackenzie, B.C. sawmill operations for a period of two weeks commencing today, October 11, 2022. The decision is likely to impact the company’s production capacity by nearly 7 million board feet during the last quarter of the current year.

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The decision was necessitated by a combination of several factors including the cost-sensitive BC Ministry of Forests policies and practices, steeply declining lumber prices and soft global market demand situation. The evolving industry and market conditions will be closely monitored and appropriate calls will be taken, it said.

Ken Shields, Chairman and CEO, Conifex Timber noted that the decision was an extremely difficult one to take. Expressing deep regrets on the impacts of this decision on its employees, their families and communities, he assured that the company will explore various initiatives to address the concerns of its workers, the District of Mackenzie and other forest industry stakeholders. Meantime, the power plant is expected to resume operation by early-December 2022, he added.

The company will release its Q3 2022 results after market close on Tuesday, November 8, 2022. Also, a conference call will be held that day at 2:00 PM Pacific time / 5:00 PM Eastern time.