Canfor Corp. reported record-high production at the Taylor pulp mill, and recorded $97 million in operating income for the second quarter, according to results issued Thursday.
The outcome marks a reversal from the $89-million loss for the first quarter of the year for the lumber and pulp producer and put the company $8.1 million into the black on that measure year-to-date.
The turnaround reflected improved earnings from the company's southern yellow pine operations in the United States and European spruce-pine-fire operations and well as a "more modest improvement" in its Western spruce-pine-fir operations centred in B.C. and Alberta.
The gain was offset by a moderate $1 million decline in the company's pulp and paper sector, compared to a $7-million gain for the first quarter.
Pulp production was 260,000 tonnes for the quarter, down 38,000 tonnes from the previous quarter, and driven primarily by a three-week COVID-19 related curtailment at the Northwood pulp mill in Prince George, which reduced production by 35,000 tonnes.
Improved productivity at the Taylor mill set new record-high production volumes in the current quarter, which largely offset the curtailment at Northwood in June, the company said.
The Taylor mill is currently scheduled to complete its maintenance outage in the third quarter of 2020 with a projected 5,000 tonnes of reduced production.
— with files from Mark Nielsen in Prince George
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