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Canfor Pulp Plans More Downtime

By 250 News

Wednesday, February 18, 2009 09:06 AM

Prince George, B.C. – Canfor Pulp Limited Partnership employees can expect more downtime this year as the Partnership aims to match supply with market demand.
Following a fourth quarter net loss of $26 million dollars, the Partnership has announced there will be downtime this year to remove 45 thousand tonnes of pulp from the market:
First Quarter: already removed 13 thousand tonnes
Second Quarter: Curtailments to remove a further 11 thousand tonnes
Third Quarter: No Curtailments
Fourth Quarter: Curtailments to remove 21 thousand tonnes
The Partnership has also decided to reduce its capital expenditures this year to $15 -$20 million dollars, down from the usual $30 million.     A cost savings plan has been put in place to save a further $10 million through lower chemical and energy usage as well as reductions in all spending.
The Partnership is hopeful of soon receiving the final insurance payment for the fire of January of 2008 which destroyed the chip handling system at PG Pulp.   The new chip handling system was in operation in November and cost $12.7 million, of that, $9.5 million was covered by insurance. The full claim for equipment and business interruption is $31.3 million and 87% of that amount has been recovered.

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Comments

You got it wrong. The CEO said there will be downtime due to annual maintenance outages at the three mills, but no plans for market curtailments (although they said they will be looking at the situatiuon on a month to month basis).
I for one can't wait till Canfor goes Bankrupt.
Jem
Why on earth would you say that?
OMG! Canfor still employs alot of people around PG and you want them to go bankrupt. Do you hate that much that you would want more people to lose their livelihood?? What is wrong with you? Like there is not enough bad going on. Geeesus
Why don't you just move if you don't like it here Jem.,Think about the spin off jobs that Canfor alone creates,plus all the people that work there.
Yeah Jem. I work for Canfor and I would like to keep my job. My husband did work for Canfor until his mill closed. Now you want to put both of us out of work. Move Jem if you don't like here.
All of the Second and Fourth Quarter downtime can be attributed to planned maintenance downtime not prodcution curtailments or layoffs.
Hey Jem, you do realize that if Canfor or Canfor Pulp went bankrupt and shutdown, almost immediatly so would Excel and Lomak trucking, who haul chips and hog out of the sawmill and into the pulpmills NON stop 24/7/365, CN could then lay-off a large portion of their workforce who move rail cars all day 7 day a week, and every logging outfit with-in a 300KM radius would go out of buisness aswell.

I am so glad there are ignorant people out there to make fools of themselves by flapping at the gums.
I think Jem is just shaking your tree guys.
metalman.
I just bought some shares in Canfor. Like Harper said some time ago. **Now would be a good time to invest**.

Of course he was critized by the talking mustache (Jack Layton) and the left leaning Liberals. But Heh, thats what you get for telling the truth.

Much better to wring our hands and cry, and whine, and blame the Government for all our problems.

I knew an old guy who used to say. ((If you want potatoes, then you better get yourself a shovel and start planting))
I had a tour of the Northwood (Canfor) Pulp Mill today, amazing place. Looks like some boring work at times, but the people take great pride in the plant and it shows. Low cost chips, hog fuel electricity and a good crew will keep that mill viable for a long time.

Did you ever think about if Canfor went broke how many opertunities there would be for smaller companys there would be just as many jobs as today just for different companies and so you want to keep your job what about us we already lost ours at Canfor so yes I do wish they went bankrupt very much so at that.