IFP adams lake AAC increased Canfor has announced plans to permanently close its sawmill in Vavenby, B.C., this July.
The company is shutting down operations and it's selling the forest tenure associated with the sawmill to Interfor for $60 million, according to a written statement from Canfor released Monday night.
Don Kayne, president and CEO of Canfor, wrote that the decision was made because of long-term log supply constraints, the high cost of fibre and ongoing depressed lumber markets.
"Today's decision is not a reflection on our employees, our contractors or the local communities of Vavenby and Clearwater who have all contributed significantly to the operation of our mill," Kayne wrote.
"We deeply regret the significant impact to our employees, contractors and the communities, and will be working to support them through this difficult time."