Canfor Shuts Down Polar Sawmill, Suspends BC Investment

Canfor Corp. (TSE:CFP) has released an update.

Canfor Corporation has announced the permanent closure of its Polar sawmill in Bear Lake, BC due to a shortage of economically viable timber and difficult operating conditions, impacting 180 employees. Additionally, the company has suspended its planned investment in a new sawmill in Houston, BC, amidst uncertainty in the policy and regulatory environment affecting timber access. These decisions underscore the challenges faced by the forestry sector in BC, with significant effects on local communities and economies.

For further insights into TSE:CFP stock, check out TipRanks’ Stock Analysis page.