International Forest Products Limited

International Forest Products Limited

December 13, 2007 17:19 ET

International Forest Products Limited: Queensboro Sawmill to Be Curtailed Indefinitely

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Dec. 13, 2007) - International Forest Products Limited ("Interfor" or the "Company") (TSX:IFP.A) announced today that its Queensboro Sawmill Division, located in New Westminster, B.C., would remain curtailed on an indefinite basis while the Company explores alternatives for the operation.

"The combination of weak markets and a strong dollar, along with a 15% duty on shipments to the U.S., have significantly undermined the economics of the Queensboro mill," said Duncan Davies, Interfor's President and Chief Executive Officer, "and there doesn't appear to be any prospect of relief in the near term."

Taking this step will provide Interfor with an opportunity to explore alternatives for the operation, including the possibility of selling the mill.

Approximately 110 employees will be effected by the curtailment. The Company has notified Local 1-3567 of the United Steelworkers of the curtailment and has offered voluntary severance to effected employees.

The Queensboro mill was initially curtailed in June and did not resume operations following the resolution of the Coastal labour dispute in November.

Interfor is one of the Pacific Northwest's largest producers of quality wood products. The Company has operations in British Columbia, Washington and Oregon, including three sawmills in the Coastal region of British Columbia, one in the B.C. Interior, one in Washington and two in Oregon. In addition, Interfor operates value-added remanufacturing and specialty products facilities in B.C. and Washington.

Contact Information

  • International Forest Products Limited
    Ric Slaco
    Vice President & Chief Forester
    (604) 689-6843