News
Interfor results disappoint

Interfor posted a second quarter loss of $29.4 million, a larger financial shortcoming than forecasts predicted.

Interfor posted a second quarter loss of $29.4 million, a larger financial shortcoming than forecasts predicted.

The loss translates to $0.62 per share, and includes restructuring costs of $33 million, which are associated with the recent purchases of the Grand Forks and Castlegar sawmills, as well as the closure of the company’s Queensboro facility.

Subsequent to the announcement of its quarter results, Interfor confirmed its purchase of the Portac sawmill in Washing State. The acquisition cost US$28.25 million, plus working capital.