June 26 (Reuters) - Forestry company Canfor ( CFPZF )
said on Thursday it will permanently close its Estill and
Darlington sawmills in South Carolina by August 2025, cutting
about 290 jobs.
The closures will also reduce its U.S. lumber production by
350 million board feet annually.
Canfor ( CFPZF ), one of Canada's forest product companies, has faced
pressure from soft lumber prices, weaker U.S. housing starts and
inflation-driven operating costs.
The company said the closures follow "an extended period of
persistently weak market conditions and sustained financial
losses, which have made continued operations at these facilities
no longer viable."