Greenfirst extends holiday curtailment at 3 sawmills

Executive Summary

• Greenfirst Forest Products Inc. is extending its holiday curtailment at three of its four sawmills (Hearst, Kapuskasing, and Cochrane) due to continued challenging market conditions in the softwood lumber sector.
• The extended shutdown will last for three weeks, running from December 22, 2025, to January 9, 2026.
• The decision aims to align production with current demand, citing significant pressure from soft North American demand and approximately 45% combined duties and tariffs on Canadian softwood lumber.

Key Details

• Affected Facilities: Hearst, Kapuskasing, and Cochrane sawmills (three of four total mills).
• Shutdown Duration: Three weeks.
• Shutdown Dates: December 22, 2025, to January 9, 2026.
• Market Context: Softwood lumber markets remain under significant pressure due to soft North American demand.
• Tariff Impact: Approximately 45% combined duties and tariffs on Canadian softwood lumber are impacting market conditions.
• Strategic Rationale: The curtailment is described as a "prudent step" to balance supply with demand and support long-term sustainability.
• Company Profile: Greenfirst Forest Products operates four sawmills and manages over six million hectares of FSC-certified public Ontario forestlands.

Notable Quotes

• "Softwood lumber markets remain under significant pressure, and extending our holiday curtailment is a prudent step to better align production with current demand," said Joel Fournier, chief executive officer of Greenfirst.