Latest news with #CanforPulp
CTV News
a day ago
- Business
- CTV News
Canfor fined $489K after worker injured in B.C. mill
View of downtown Prince George is seen from L.C. Gunn Park in this photo shared by the city on Dec. 1, 2023. (City of Prince George/Facebook) The operators of a pulp and paper mill in northern British Columbia have been fined nearly half a million dollars by the provincial workplace safety regulator after an employee was injured on the job. WorkSafeBC says its investigators visited a Canfor Pulp Ltd. mill site in Prince George after a worker was injured when an 'unguarded cylinder activated on a hydraulic pumping system.' The inspectors determined the company failed to ensure the machinery was fitted with proper safeguards to protect its workers from injury, the regulator said in a summary of the incident published online. The agency ordered Canfor Pulp Ltd. to pay a penalty of $489,104.10, describing the incident as a 'high-risk violation.' WorkSafeBC says its monetary penalties are calculated primarily based on the employer's total payroll, while also considering the nature of the violation and the company's history of prior infractions, if any. 'The primary purpose of an administrative penalty is to motivate the employer receiving the penalty — and other employers — to comply with occupational health and safety legislation and regulation, and to keep their workplaces safe,' the agency says. Canfor, which operates three pulp and paper mills and one sawmill in Prince George, did not respond to a request for comment on the incident or the fine on Tuesday.
Yahoo
02-08-2025
- Business
- Yahoo
Canfor Corp (CFPZF) Q2 2025 Earnings Call Highlights: Strategic Acquisitions and Market Challenges
Lumber Business Adjusted EBITDA: $62 million in Q2, $1 million higher than the prior quarter. Lumber Business EBITDA (Excluding One-Time Items): $68 million in Q2, up approximately $8 million from Q1. Lumber Business EBITDA (First Half 2025): Approximately $130 million, excluding one-time items. Pulp Business Adjusted EBITDA: $6 million in Q2, down $15 million from the prior quarter. Net Debt (Canfor Pulp): $74 million at the end of Q2. Available Liquidity (Canfor Pulp): $80 million at the end of Q2. Net Debt (Canfor Excluding Canfor Pulp and Duty Loan): Approximately $87 million at the end of Q2. Available Liquidity (Canfor Excluding Canfor Pulp and Duty Loan): $1.3 billion at the end of Q2. Consolidated Capital Expenditures: Approximately $51 million in Q2, including $5 million for Canfor Pulp. Projected Capital Expenditures (Lumber Business 2025): Approximately $240 million, with $160 million spent in the first half. Projected Capital Expenditures (Canfor Pulp 2025): $45 million, including capitalized maintenance. Warning! GuruFocus has detected 6 Warning Signs with CFPZF. Release Date: August 01, 2025 For the complete transcript of the earnings call, please refer to the full earnings call transcript. Positive Points Canfor Corp (CFPZF) announced the pending acquisition of three sawmills in Sweden, enhancing geographic diversification and reducing reliance on the US market. The company's balance sheet remains strong, allowing for strategic growth and acquisitions even during challenging market conditions. Recent capital investments have improved Canfor Corp (CFPZF)'s cost structure and profitability, particularly in the US South and Europe. The company has made significant progress in improving productivity and reliability, with a focus on operational execution and cost management. Canfor Corp (CFPZF) has a diversified lumber platform with approximately 35% of production in the US South, 35% in Sweden, and 30% in Western Canada, providing resilience against market fluctuations. Negative Points Canfor Corp (CFPZF) announced the closure of facilities in South Carolina and British Columbia due to high costs and weak market conditions, impacting production capacity. The company faces significant uncertainty regarding tariffs and the ongoing Section 232 investigation in the US, affecting sales strategy and market dynamics. Weak demand and elevated global pulp inventories have led to a sharp decline in pricing, particularly in China, impacting Canfor Pulp's financial performance. The stronger Canadian dollar has negatively affected sales realizations in both the pulp and paper businesses. Global lumber markets remain challenging, with ongoing economic and trade uncertainties affecting demand and pricing. Q & A Highlights Q: Did you observe any pre-buying behavior ahead of the increase in duties on the Western SPS side? A: Kevin Pankratz, Senior Vice President of Sales and Marketing, noted that buying behavior remained steady through June and July, with customers maintaining adequate inventory levels to meet just-in-time demand, without any significant increase in buying. Q: With duties increasing, how are you approaching production, especially considering softer housing demand? A: Stephen Mackie, Chief Operating Officer, stated that despite difficult decisions to rationalize higher-cost capacity in Canada, the plan is to continue operating through the cycle. The company is well-positioned with limited exposure to the US market and will respond to market dynamics as needed. Q: Are there any plans for further M&A opportunities in Europe beyond the pending acquisition in Sweden? A: Susan Yurkovich, President and CEO, expressed satisfaction with the Hedin acquisition in Sweden, which fits well into the Vida platform. While the focus is on integrating these assets, the company remains open to exploring further opportunities. Q: How do you view the potential for lumber to be included in broader US-Canada trade negotiations? A: Susan Yurkovich emphasized the importance of lumber to Canada and expressed hope for its inclusion in broader trade negotiations. She acknowledged the complexity of these discussions and the need for flexibility in reaching a resolution. Q: How has lumber demand fared with key R&R customers in North America and Europe this year? A: Kevin Pankratz reported that R&R demand has been relatively steady, with year-to-date performance flat compared to last year. While there was a slight slowdown in July, demand has since picked up, and the DIY segment in Europe has also remained steady. For the complete transcript of the earnings call, please refer to the full earnings call transcript. This article first appeared on GuruFocus. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
03-07-2025
- Business
- Yahoo
Canfor Pulp Products Inc. and Canfor Corporation Announce Fourth Quarter Results Conference Call
VANCOUVER, BC, July 3, 2025 /CNW/ - Canfor Pulp Products Inc. (TSX: CFX) will hold a joint analyst conference call with Canfor Corporation (TSX: CFP) on Friday, August 1, 2025 to discuss their respective Q2 2025 financial and operating results. When: Friday, August 1, 2025 at 9:00 a.m. PT Call details: 1-888-510-2154 (Toll-free North America) Please ask to participate in Canfor's second quarter call. Listen live at select Online Log In. Presentation material referenced during the conference call will be available the morning of the call at Following management's discussion of the quarterly results, the analyst and investment community will be invited to ask questions. Media are invited to attend on a listen-only basis. Recording playback: The replay of the conference call will be available until August 15, 2025. 1-888-660-6345 Passcode 18122 # About Canfor Pulp Products Inc. Canfor Pulp Products Inc. ("Canfor Pulp" or "CPPI") is a leading global supplier of pulp and paper products with operations in the northern interior of British Columbia ("BC"). Canfor Pulp operates two mills in Prince George, BC with a total capacity of 780,000 tonnes of Premium Reinforcing Northern Bleached Softwood Kraft ("NBSK") pulp and 140,000 tonnes of kraft paper. CPPI shares are traded on the Toronto Stock Exchange under the symbol CFX. For more information visit SOURCE Canfor Pulp Products Inc. View original content to download multimedia:
Cision Canada
12-05-2025
- Business
- Cision Canada
Canfor Pulp Announces Voting Results for Election of Directors
VANCOUVER, BC, May 12, 2025 /CNW/ - Canfor Pulp Products Inc. (TSX: CFX) announces, in accordance with Toronto Stock Exchange requirements, the voting results from its Annual General Meeting held Thursday, May 8, 2025, in Vancouver, British Columbia. A total of 51,756,751 common shares were voted at the meeting representing 79.34% of the votes attached to all outstanding shares. Shareholders voted in favour of all items of business before the meeting, including the election of all director nominees as follows: Detailed voting results for the meeting are available on SEDAR at The above figures are based on proxies voted for and percentage of votes for at the meeting. Forward-looking statements. Certain statements in this press release constitute "forward-looking statements" which involve known and unknown risks, uncertainties and other factors that may cause actual results to be materially different from any future results, performance or achievements expressed or implied by such statements. Words such as "expects", "anticipates", "projects", "intends", "plans", "will", "believes", "seeks", "estimates", "should", "may", "could", and variations of such words and similar expressions are intended to identify such forward-looking statements. These statements are based on management's current expectations and beliefs and actual events or results may differ materially. There are many factors that could cause such actual events or results expressed or implied by such forward-looking statements to differ materially from any future results expressed or implied by such statements. Forward-looking statements are based on current expectations and Canfor assumes no obligation to update such information to reflect later events or developments, except as required by law. About Canfor Pulp Products Inc. Canfor Pulp Products Inc. ("Canfor Pulp" or "CPPI") is a leading global supplier of pulp and paper products with operations in the northern interior of British Columbia ("BC"). Canfor Pulp operates two mills in Prince George, BC with a total capacity of 780,000 tonnes of Premium Reinforcing Northern Bleached Softwood Kraft ("NBSK") pulp (including 300,000 tonnes of annual production capacity that, effective August 2024, has been indefinitely curtailed), and 140,000 tonnes of kraft paper. CPPI shares are traded on the Toronto Stock Exchange under the symbol CFX. For more information visit
Yahoo
12-05-2025
- Business
- Yahoo
Canfor Pulp Announces Voting Results for Election of Directors
VANCOUVER, BC, May 12, 2025 /CNW/ - Canfor Pulp Products Inc. (TSX: CFX) announces, in accordance with Toronto Stock Exchange requirements, the voting results from its Annual General Meeting held Thursday, May 8, 2025, in Vancouver, British Columbia. A total of 51,756,751 common shares were voted at the meeting representing 79.34% of the votes attached to all outstanding shares. Shareholders voted in favour of all items of business before the meeting, including the election of all director nominees as follows:Votes For Votes Withheld % of Votes For (rounded) J. Craig Armstrong 50,725,701 989,752 98.09 % John R. Baird 50,408,936 1,306,517 97.47 % Dieter W. Jentsch 50,409,006 1,306,447 97.47 % Norm Mayr 50,389,619 1,325,834 97.44 % Sandra Stuart 50,713,344 1,002,109 98.06 % Susan Yurkovich 50,726,002 989,451 98.09 % Detailed voting results for the meeting are available on SEDAR at The above figures are based on proxies voted for and percentage of votes for at the meeting. Forward-looking statements. Certain statements in this press release constitute "forward-looking statements" which involve known and unknown risks, uncertainties and other factors that may cause actual results to be materially different from any future results, performance or achievements expressed or implied by such statements. Words such as "expects", "anticipates", "projects", "intends", "plans", "will", "believes", "seeks", "estimates", "should", "may", "could", and variations of such words and similar expressions are intended to identify such forward-looking statements. These statements are based on management's current expectations and beliefs and actual events or results may differ materially. There are many factors that could cause such actual events or results expressed or implied by such forward-looking statements to differ materially from any future results expressed or implied by such statements. Forward-looking statements are based on current expectations and Canfor assumes no obligation to update such information to reflect later events or developments, except as required by law. About Canfor Pulp Products Inc. Canfor Pulp Products Inc. ("Canfor Pulp" or "CPPI") is a leading global supplier of pulp and paper products with operations in the northern interior of British Columbia ("BC"). Canfor Pulp operates two mills in Prince George, BC with a total capacity of 780,000 tonnes of Premium Reinforcing Northern Bleached Softwood Kraft ("NBSK") pulp (including 300,000 tonnes of annual production capacity that, effective August 2024, has been indefinitely curtailed), and 140,000 tonnes of kraft paper. CPPI shares are traded on the Toronto Stock Exchange under the symbol CFX. For more information visit SOURCE Canfor Pulp Products Inc. View original content to download multimedia:
