Another North American timber company announced further production cuts.
Two sawmills in British Columbia will begin implementing a temporary reduction plan that is expected to last two weeks, according to a news release by West Fraser. This temporary reduction is due to the recent weakening of global timber market pricing, the high cost of logs and the limited supply from timber suppliers. The decision is made by combining the above factors.
This is another North American timber company that announced a cut-off plan after last week’s announcement by TOKOL of the permanent closure of the Quest Sawmill. As a diversified North American wood products company, West Fraser has more than 45 manufacturers in Canada and the United States. The company’s main products are spruce, fir, pine and Southern Yellow pine.
In conjunction with the previously announced permanent and temporary production cuts, West Fraser’s production cuts will reduce timber supply by 20 million plank feet.