After a lengthy indefinite shut down following the collapse of the United States residential housing market in 2008, Canfor Corporation (TSX:CFP) has decided to close its historic Rustad Sawmill in Prince George and Tackama Mill in Fort Nelson.
Canfor has determined the capital investment needed to bring the Rustad facility up to globally competitive operating standards is prohibitive. The company has instead focused a $300 million, three year capital investment plan on other facilities where smaller amounts of capital spending can realize significant improvements in cost performance and capacity.
Check for more details in tomorrow's Citizen and online.
