Friday, November 15, 2024

Western Forest Products temporarily curtails production at B.C. sawmills

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VANCOUVER — Western Forest Products Inc. says it is temporarily curtailing lumber production due to market challenges.

The Vancouver-based company says it is reducing production from its B.C. sawmills by approximately 30 million board feet during the period from October to December of this year.

This comes on top of additional curtailments that took place earlier in the year, for a total annual reduction of approximately 90 million board feet, or about 10 per cent of the company’s annual lumber capacity.

Western Forest Products says the curtailments are due to a combination of market challenges including weaker lumber demand and higher U.S. softwood lumber duty rates.

It says the B.C. market is also experiencing a lack of available economic log supply at certain sawmills.

The company warned that all levels of government must work to create a policy environment that supports the forestry industry, especially as U.S. softwood lumber duty rates are set to rise significantly in the second half of 2025.

This report by The Canadian Press was first published Oct. 7, 2024.

Companies in this story: (TSX:WEF)

The Canadian Press

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