Canfor Corp announces production cuts as supply and price issues continue

VANCOUVER — Canfor Corp. has announced another temporary cutback in production due to low lumber prices and the high cost of wood supplies.The company says that starting April 29 it will reduce production output by approximately 100 million board feet spread across its B.C. mills.In January, Canfor announced temporary cutbacks at three sawmills because of similar concerns, cutting out about 40 million board feet.The company announced further curtailments last fall as lumber prices declined while wood fibre costs rose.The B.C. forestry industry has struggled with a loss of supply because of forest fires and insect infestations, while U.S. lumber prices have fallen back from record highs reached last summer.Canfor has 13 sawmills in Canada, with total annual capacity of approximately 3.8 billion board feet. Companies in this story: (TSX:CFP)The Canadian Press read more

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In Côte dIvoire Annan says reconciliation will foster further progress

“I am sure that when the political situation is calm, it will be possible to concentrate on economic and social problems,” Mr. Annan told reporters following his meeting in Abidjan on Saturday with President Laurent Gbagbo. “And I am sure that investors will come” to the country, he added.Asked about what the UN is doing to foster peace in the Democratic Republic of the Congo, the Secretary-General said efforts were under way to see how to expand the UN peacekeeping mission in the country. At the same time, he said, the UN would help the parties to implement the recently concluded Pretoria agreement. With proper action, progress would be possible on that front, he stressed.The Secretary-General’s stop in Côte d’Ivoire was the first in a series of official visits to six African countries, culminating with his participation at the high-level segment of the World Summit for Sustainable Development early next month in Johannesburg, South Africa. read more

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