Canfor Says Temporarily Curtailing Canadian Production Capacity

Canfor Corp CFP:

• CANFOR TEMPORARILY CURTAILING CANADIAN PRODUCTION CAPACITY

• ANNOUNCING A TEMPORARY REDUCTION IN CANADIAN PRODUCTION DUE TO VERY WEAK MARKET CONDITIONS

• PRODUCTION WILL BE REDUCED THROUGH CURTAILMENTS AT ALL SOLID WOOD FACILITIES IN B.C. AND ALBERTA

• THIS WILL REMOVE APPROXIMATELY 150 MILLION BOARD FEET IN DECEMBER AND JANUARY

• CURTAILMENTS WILL START TO BE IMPLEMENTED ON DECEMBER 19, 2022 AND WILL RANGE FROM ONE TO FOUR WEEKS ACROSS ITS CANADIAN OPERATIONS

• CANFOR- WILL CONTINUE TO ADJUST OPERATING RATES;ANTICIPATES MAJORITY OF BC FACILITIES WILL OPERATE BELOW FULL CAPACITY IN NEW YEAR