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Be the first with the news that moves the market- Western Forest Products (WEF) undergoes temporary production cutbacks in BC
- There will be a 20 million board feet reduction to manage inventory levels to current market conditions
- The temporary reduction in lumber production will be spread across its British Columbia manufacturing platform
- Western will continue to evaluate market conditions on an ongoing basis to maintain a balance between production and demand
- Western Forest Products (WEF) is down 1.34 per cent, trading at C$1.10 at 12:15 pm EST
Western Forest Products (WEF) will temporarily reduce its lumber production output for the remainder of 2022.
Western has a lumber capacity of 1 billion board feet from seven sawmills. It also operates four remanufacturing facilities and two glulam manufacturing facilities.
There will be a 20 million board feet reduction to manage inventory levels to current market conditions.
This temporary reduction in lumber production will be spread across its British Columbia manufacturing platform throughout the remainder of the year.
Two things that remain as is are the remanufacturing and shipping operations. The lumber production at specific sites will be resuming in January.
In the future, the company will continue to evaluate market conditions on an ongoing basis to maintain a balance between production and demand.
Western is an integrated forest products company building a margin-focused log and lumber business to compete successfully in global softwood markets.
The company sources timber from its private lands, long-term licenses, First Nations arrangements, and market purchases.
Western Forest Products (WEF) is down 1.34 per cent, trading at C$1.10 at 12:15 pm EST.
