West Fraser Timber has reported third-quarter earnings of C$6m from continuing operations, with the lumber division making an operating loss of C$15m.
The company said the lumber division’s poor performance was due to continuing weak demand from US new home construction.
West Fraser’s US operations operated at 74% of capacity in the current quarter, down from 78% in the previous quarter.
The panels division, which includes plywood, LVL and MDF, generated an operating loss of C$2m and earnings of C$2m. This improvement from the previous quarter reflected increases in plywood and MDF prices.
MDF and LVL operations continue to operate on a curtailed basis.
