Canfor announces intentions to close Clear Lake Lumber in B.C.

Canfor Corporation is permanently closing its Clear Lake Lumber operation near Prince George, British Columbia on January 13, 2011.

Approximately 185 will be affected by the closure. 130 million board feet of production, annually, will be removed from the market.

The decision to close the mill is stems from a combination of challenging markets due to the protracted downturn in new home construction in the U.S., and a lack of economic long-term fibre supply for the Clear Lake operation.

"This decision in no way reflects the efforts of the workforce at Clear Lake. We would like to thank them for their efforts and we will strive to place impacted employees in other Canfor operations where possible," said Jim Shepard, Canfor President and CEO. "We remain committed to our highly-valued customer base, while being responsive to market demands and pressures."

Source: Canfor