July 27, 2023
Vancouver, BC - Canfor Pulp Products Inc. (“The Company” or “CPPI”) (TSX: CFX) today reported its second quarter of 2023 results.
Overview:
- Q2 2023 reported operating loss of $38 million; net loss of $28 million, or $0.44 per share
- Significant deterioration in global pulp market fundamentals throughout the quarter driven by record high pulp producer inventory levels and weak global pulp demand
- Completed closure of pulp line at Prince George Pulp and Paper mill
- Subsequent to quarter-end, a labour dispute at British Columbian ports resulted in transportation bottlenecks and a short curtailment at the Company’s Northwood NBSK pulp mill