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Canfor to Permanently Close Northwood Pulp Mill

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Canfor (CFP.TO) is permanently closing its Northwood pulp mill in Prince George, British Columbia, impacting about 300 employees at the facility.

The closure results in an annual reduction of about 300,000 tonnes of Northern Bleached Softwood Kraft from Northwood, the forest products company said Tuesday. The facility is scheduled to close late in the fourth quarter.

Canfor cited sector headwinds such as an oversupply due to additional pulp production capacity and lower pulp prices globally, which have resulted in unsustainable financial losses for the company.

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