Conifex announces shut down of El Dorado Sawmill

News
Conifex logo

Update:

VANCOUVER, British Columbia – Six people will remain with the company in various positions but 92 people will be loosing theirs.

Original:

VANCOUVER, British Columbia, (GLOBE NEWSWIRE) — Conifex Timber Inc. (TSX: CFF) (“Conifex”) announced today that it is indefinitely closing down operations at its El Dorado sawmill. The shut down is planned to be phased-in over the next 60 days.

The closure is expected to reduce Conifex’s US South lumber production by approximately 21 million board feet to the end of the year.

“We regret this difficult decision, however lumber prices are simply too modest to justify continued operations at a site that requires further capital expenditures to realize its potential as an efficient, modern mill,” said Ken Shields, Chair and CEO. “While our wish is to restart the mill as soon we can, our immediate priorities are to identity the scope of a Phase 2 capital investment to help better inform a re-start date,” Mr. Shields added.

For further information, please contact:

Media Contact:
Sandy Ferguson
VP Corporate Affairs and Business Development (778) 385-2750,

Sandy.ferguson@conifex.com Investor Contact: Yuri Lewis
Chief Financial Officer
(778)-331-8687
yuri.lewis@conifex.com

Copyright 2019 Nexstar Broadcasting, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.

Don't Miss

More Don't Miss

Trending Stories