corona / canada

Interfor announces measures to address the corona crisis

Article by Ulrike Knaus (adapted for; translated by Eva Guzely) | 23.03.2020 - 09:57

The two main measures are reductions in capital expenditure and production.

Interfor’s multi-year strategic capital projects are structured in a manner that provides flexibility to adapt to changing market conditions. The company is planning to reduce its investments by a total of approximately $140 million (€ 130 million) this year and in 2021.

In order to adapt production to the current market situation, Interfor will temporarily reduce production at its sites in British Columbia, the Pacific Northwest and the south of the US. This step is expected to reduce production by 35 million board feet (56,000 m³) per week, which is approximately 60% of Interfor’s production capacity. The health and safety of our employees must be ensured at any moment, said Ian Fillinger, Interfor’s President and Chief Executive Officer.