- Canfor ( OTCPK:CFPZF ) said Wednesday it will reduce operations at its Swedish facilities, effective Sept. 12, due to weak market demand.
- This will result in a 15% decrease in production capacity and is expected to be in effect through Q4.
- "Rising inflation and mortgage rates in Europe, which are expected to persist into the fall, is impacting demand for lumber and as a result we are reducing production capacity," said CFPZF CEO Don Kayne.
- The company cut production at its western Canada sawmills in Apr. due to supply chain woes .
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Canfor to reduce operations in Sweden due to weak demand