Canfor Corporation (TSX:CFP) is announcing reduced operating schedules effective September 12, 2022 at its Swedish facilities due to a decrease in market demand. The reduced operating schedules will result in a 15% decrease in production capacity and are anticipated to be in effect through the fourth quarter.
“Rising inflation and mortgage rates in Europe, which are expected to persist into the fall, is impacting demand for lumber and as a result we are reducing production capacity. We are committed to continuing to meet the needs of our customers,” said Don Kayne, President and CEO, Canfor.
The decrease in production capacity will be achieved through reduced shifts. The Company will continue to assess and make adjustments to operating schedules based on changes in market demand.