VANCOUVER – Canfor Corp. has announced it is shutting two northern British Columbia sawmills in a move it says will impact about 500 workers, partly blaming “punitive” U.S. tariffs imposed last month.
It says that shutting the Plateau mill in Vanderhoof and its Fort St. John operation will also remove 670 million board feet of annual production capacity.
The company blames the closures on the challenge of accessing “economic fibre,” as well as ongoing financial losses, weak lumber markets and increased U.S. tariffs.
President and CEO Don Kayne says in a statement that Canfor’s B.C. operations have lost “hundreds of millions of dollars” and that its challenges were exacerbated by “punitive U.S. tariffs” announced on Aug. 14.
He says that delaying the closures of the Vanderhoof and Fort St. John mills would “prolong the punishing anti-dumping duties and put additional operations at risk.”
Kayne says the wind down of operations is expected to be completed this year.
This report by The Canadian Press was first published Sept. 4, 2024.
