As many sectors of the economy in B.C. have slowed down due to the COVID-19 pandemic, forestry giant Interfor is bracing for the virus’ effects on the lumber market. In a Wednesday, March 18 press release, the company announced it would be curtailing production by 35 million board feet per week which represents approximately 60 per cent of its production capacity. The curtailments will initially be for a two-week period and will then be evaluated regularly.
Along with the production curtailments, the company is to reduce capital expenditures by approximately $140 Million over the course of 2020 and 2021. The release stated expenditures would be evaluated as market conditions continue to evolve.
“We are very focused on ensuring the health and safety of our employees as well as adapting to the evolving market conditions,” said Ian Fillinger, Interfor’s President and CEO.
Interfor operates mills and woodlots in B.C. and in the Pacific Northwest and Southern regions of the United States. The production curtailments will affect all the regions the company operates in.
The company’s B.C. presence includes the Acorn Mill in Delta and the Adams Lake mill in Chase as well as operations in Castlegar, Campbell River and Grand Forks.