VANCOUVER — West Fraser Timber Co. Ltd. says it will indefinitely curtail its Perry Sawmill in Florida later this month due to high fibre costs and softening lumber markets.
The Vancouver-based company said in a press release that the indefinite curtailment will affect around 126 employees.
However, West Fraser says it will try to mitigate the effect on workers by providing work opportunities at other West Fraser operations.
It says the curtailment will reduce the company's U.S. lumber production by 100 million board feet.
The company says high fibre costs and a low-price commodity environment have impaired its ability to operate the sawmill profitably.
It says it anticipates an impairment charge in the fourth quarter of 2022 associated with the curtailment.
This report by The Canadian Press was first published Jan. 10, 2023.
Companies in this story: (TSX:WFG)
The Canadian Press