By Canadian Press

Interfor announces 17% lumber production cut in fourth quarter

Oct 20, 2022 | 2:40 PM

BURNABY, B.C. — Interfor says it will reduce lumber production in the fourth quarter of 2022 due to reduced demand.

The forest products company says it’s reducing output by 17 per cent of its quarterly capacity, or about 200 million board feet. 

It says economic conditions and market uncertainty are leading to reduced demand for lumber.

The temporary output cut will be spread across the company’s operating regions and timed around U.S. Thanksgiving and Christmas holiday periods. 

Interfor says it expects to resume its normal schedule in January but will be monitoring the market closely in case further adjustments are necessary.

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Interfor is scheduled to release its third-quarter results on Nov. 3. 

This report by The Canadian Press was first published Oct. 20, 2022.

Companies in this story: (TSX:IFP)

The Canadian Press