Canfor CEO Speaks Up on Softwood Issue
Prince George, B.C. – In a conference call to discuss Canfor’s first quarter results, company CEO Don Kayne called the countervailing duties levelled by the U.S. against Canadian lumber exports as “punitive and completely unwarranted”.
Canfor was hit with a rate of 20.26%. Kayne says the duties are not based on fact “But are a result of protectionist efforts by the U.S. lumber lobby aimed at artificially restricting supply for their own benefit but at the expense, ultimately, of U.S. consumers.”
Kayne says Canfor will defend itself and will work with colleagues to defend the industry “We fully expect the determination by the U.S. Department of Commerce to be overturned by independent NAFTA and WTO panels and that the duties will ultimately be rescinded and returned.”
He praised both the provincial and Federal governments for their work on this issue ” We have had excellent support and collaboration from the Canadian Federal and B.C. Provincial Governments and have every confidence they will take all the appropriate steps to successfully fight these outrageous trade actions again, as they have done previously.”
Kayne says Canfor has been preparing for possible trade issues “We have significantly diversified our markets, we’ve grown global markets in general through promotion of wood as a green building material, we’ve added 14 operations in the U.S. South representing 1.6 billion board feet or 30% of our production and made significant capital investments in our B.C. operations to ensure our global competitiveness, close to $1 billion dollars in the last 5 years.”