Once its log inventory has been processed, Canfor is closing its Mackenzie sawmill.
Once its log inventory has been processed, Canfor is closing its Mackenzie sawmill.
Canfors board has directed me to implement a program to reduce costs and position the company to weather this market downturn, which is the worst the industry has seen in decades, interim president and CEO James Shepard said of the closure, which comes as part of a larger cost management program currently underway at the company.
The scope of this cost reduction strategy is not limited to our operations but also includes a review of how we, as a company, spend money and puts in place a process to identify additional cost savings. Today we are announcing the indefinite closure of our Mackenzie sawmill but we will continue to monitor market conditions for evidence of a sustained recovery that would enable us to revisit the situation. The cost review process is not meant to be a one-time event and we will be announcing further decisions as we implement our plan.
The mill has a capacity of 500 million board feet and employs roughly 450 people. The closure is expected to take place in mid-August.
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