Canfor won’t rebuild
August 5, 2008 By Pulp & Paper Canada
It’s disappointing news for Canfor workers in Prince George, BC, as the company confirmed it won’t rebuild its Nort…
It’s disappointing news for Canfor workers in Prince George, BC, as the company confirmed it won’t rebuild its North Central plywood plant that was ravaged by fire at the end of May.
Instead, Canfor will use $13.5 million of the insurance money it receives to build a wood residue energy facility at its Fort St. John sawmill in BC.
According to a report by Marketwatch.com, president and CEO Jim Shepard indicated the decision was a difficult one, but ultimately concluded it made the most financial sense.
“Unfortunately, after considering the changing nature of our available fibre supply and expected future market conditions, the projected economic benefits were not sufficient to justify the significant capital cost of the rebuild,” Marketwatch.com reported him as saying.
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