Conifex Timber Announced Delay in Resuming Power Plant Operations
Rubber and Wood | 2022-07-18 13:07:32
The company is currently assessing the damages and formulating a work plan in consultations with its contractors.
By Paul Ploumis
SEATTLE (Scrap Monster): Conifex Timber Inc. announced delay in the resumption of operations at its power plant in Mackenzie, B.C., following the dispatch period declared earlier.
According to the company press release, it had discovered damage to the plant’s turbine during the course of annual maintenance of the power plant. Meantime, the boiler, generator and other long lead-time equipment remains unaffected, it noted. The delayed restart of operations at the power facility is unlikely to impact sawmill operations or its power plant employees.
The company is currently assessing the damages and formulating a work plan in consultations with its contractors. The exact date of recommencement of operations could be determined only upon completion of the assessment and the work plan. However, Conifex does not expect the power plant to be operational during Q3 2022. The property damage and business interruption will be covered by insurance, subject to customary deductibles and limits.
The company has scheduled the announcement of its Q2 2022 results after market closing on 9th August, 2022. A conference call has been scheduled at 5.00 PM ET on that day to discuss the quarterly financial results.
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