Low lumber prices have caused Vancouver, Canada-based Conifex Timber Inc. to indefinitely curtail operations at its El Dorado sawmill. The curtailment is planned to be phased-in over the next 60 days the company said in its Wednesday (Aug. 14) announcement. The curtailment is expected to reduce Conifex’s U.S. southern lumber production by approximately 21 million board feet to the end of the year. “We regret this difficult decision, however lumber prices are simply too modest to justify continued operations at a site that requires further capital expenditures to realize its potential as an efficient, modern mill,” Ken Shields, Conifex chair and CEO, said in a statement. “While our wish is to restart the mill as soon we can, our immediate priorities are to identity the scope of a Phase 2 capital investment to help better inform a re-start date.” Conifex, a forestry and sawmilling company, announced in January 2017 plans…

Low trudge prices have brought on Vancouver, Canada-primarily primarily based fully Conifex Timber Inc. to indefinitely curtail operations at its El Dorado sawmill. The curtailment is planned to be phased-in over the subsequent 60 days the firm mentioned in its Wednesday (Aug. 14) announcement.

The curtailment is anticipated to decrease Conifex’s U.S. southern trudge production by roughly 21 million board feet to the kill of the one year.

“We remorse this complex decision, then over again trudge prices are simply too modest to interpret continued operations at a establish that requires extra capital expenditures to cherish its skill as an ambiance pleasurable, up to date mill,” Ken Shields, Conifex chair and CEO, mentioned in a press launch. “Whereas our need is to restart the mill as soon we can, our instant priorities are to identity the scope of a Segment 2 capital investment to support better instruct a re-launch date.”

Conifex, a forestry and sawmilling firm, announced in January 2017 plans to modernize and re-launch the El Dorado sawmill advanced. The sawmill change into previously owned by Georgia Pacific and had been closed for with regards to 10 years. Conifex mentioned on the time it could perchance invest $80 million within the plant and invent 120 stout-time jobs.

Firm officers did not enlighten how many roles might be prick for the length of the curtailment of operations.

The submit Conifex to decrease operations at El Dorado sawmill seemed first on Focus on Commerce & Politics.

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