VANCOUVER, British Columbia (From news reports) -- Canfor has closed another mill in Prince George, B.C., this time impacting roughly 300 jobs.

The company announced Tuesday that it will be shutting down Northwood pulp, due to what the company describes as "unsustainable financial losses."

"The pulp and paper sector continues to face significant challenges, including a structural shift in global pulp markets. Substantial additional pulp production capacity has come online globally, creating an oversupply in the market and downward pressure on global pulp prices," Canfor said in a written statement.

"With no foreseeable improvement in the outlook, Canfor has made the difficult decision to close its Northwood facility."

The company said the shutdown will be finalized toward the end of 2026.

Kim Haakstad, president and CEO of the B.C. Council of Forest Industries, said the shutdown shows the need to urgently stabilize the forestry sector in the short term to keep mills open and people working.

"For too many people across this province, the consequences of inaction for the struggling forestry sector are happening in real time," Haakstad said in a statement.

She called on the provincial and federal governments to act urgently on the Forest Sector Transformation Task Force's recommendations -- specifically regarding predictable access to wood.

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CANFOR RELEASE:

Canfor Corporation on July 14 announced the permanent closure of its Northwood pulp mill in Prince George, British Columbia.

This closure results in an annual reduction of about 300,000 tonnes of Northern Bleached Softwood Kraft (NBSK) from Northwood. Approximately 300 employees in Prince George are directly impacted.

The pulp and paper sector continues to face significant challenges, including a structural shift in global pulp markets. Substantial additional pulp production capacity has come online globally, creating an oversupply in the market and downward pressure on global pulp prices. Combined with the persistent challenges accessing fibre, these factors have resulted in a prolonged period of unsustainable financial losses for Canfor Pulp. With no foreseeable improvement in the outlook, Canfor has made the difficult decision to close its Northwood facility.

"We recognize this is incredibly difficult news that will have a significant impact on our employees, their families, the businesses that support our operation, and the communities where we operate," said Susan Yurkovich, President and CEO, Canfor. "This decision is in no way a reflection of the dedication or hard work of our employees. The team at Northwood has worked tirelessly to improve performance, navigating challenging conditions to support their operation and we are grateful for their efforts. In the weeks ahead, we are committed to supporting our employees through this transition, including providing severance, and exploring opportunities to redeploy impacted employees to our other operating locations where possible."

Northwood will be following an orderly wind-down process and is expected to close in late Q4 2026.