Today Canfor Corporation ("the Company" or "Canfor") (TSX: CFP) announced it has provided $100,000 to the Canadian Red Cross' British Columbia Fires Appeal to support their response efforts.
Today Canfor Corporation (TSX: CFP) announced that it will implement reduced operating schedules at its BC sawmills, with the exception of WynnWood, starting the week of August 30. As a result, Canfor's BC mills are expected to operate at approximately 80% of production capacity and operating schedules may continue to vary as economic conditions warrant.
North American timber producers are expected to see a dip in current-quarter profit after lumber demand for do-it-yourself home projects decreased following the easing of most restrictions that kept people in their houses. Lofty lumber prices, the sustained needs of home builders and industrious homeowners during the pandemic pushed their second-quarter profit to record levels. Canada's West Fraser Timber Co Ltd, Canfor Corp and Interfor Corp are projected to report combined earnings of about $803 million in the third quarter, according to Refinitiv estimates, about a third of what they posted in the second quarter.