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Rubber and Wood January 15, 2019 02:30:59 PM

West Fraser Declares Temporary Production Curtailments at Four B.C. Mills

Paul Ploumis
ScrapMonster Author
In addition, the company also announced that the Williams Lake sawmill will be shut down for approximately one week during the first quarter of 2019.

West Fraser Declares Temporary Production Curtailments at Four B.C. Mills

SEATTLE (Scrap Monster): West Fraser Timber Co. announced temporary production curtailments at four of its B.C area sawmills. As per rough estimates, the decision is expected to reduce SPF lumber production during the initial quarter of the current year by approximately 50 million board feet.

According to company press release, three B.C. sawmills- Chasm, 100 Mile House and Chetwynd will see temporary production curtailments for a period of nearly three weeks throughout Q1 2019. The decision is mainly on account of declining lumber prices, escalating log costs and ever-increasing constraints in log supply. In addition, the company also announced that the Williams Lake sawmill will be shut down for approximately one week during the first quarter of 2019, so as to complete previously announced capital upgrades.

Earlier in December 2018, the company had announced temporary production halts at the above four B.C. sawmills during the holiday season. This was estimated to have an impact of approximately 25 million board feet on West Fraser’s total annul lumber production in 2018. Before that, in November, the company had announced its decision with regards to permanent curtailment of production of nearly 300 million board feet of lumber at its Fraser Lake and Quesnel sawmills.

The company’s lumber segment earnings had recorded notable decline from $358 million in prior quarter to $233 million in Q3 ’18. The lower pricing and shipment volumes had reduced the adjusted EBITDA from $468 million in Q2 to $339 million in Q3 ’18.

 

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