06:22 AM EDT, 05/10/2024 (MT Newswires) -- Canfor Pulp Products ( CFPUF ) , which fell 4.4% yesterday to close near a 52-week low, overnight Thursday said that in the third quarter it will indefinitely halt one production line at its Northwood facility in Prince George, British Columbia.

The decision is driven by the decline in the availability of economic fiber in the northern British Columbia region, the company said. This will result in the reduction of about 300,000 tonnes of market kraft pulp annually.

Canfor Pulp currently operates two pulp production lines at its Northwood facility and one production line at its nearby Intercon facility. Canfor will continue to run both lines at Northwood until one gets wound down at the start of the third quarter. The capacity reduction will impact about 220 jobs across the company.

Canfor Pulp will continue to operate the Specialty Paper facility in Prince George.