| Norbord Announces Temporary Downtime at Cocrhane, Ontario |
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Cochrane, Ontario, Canada, 07 November 2007 – Norbord announced today it will suspend operations at its hardwood plywood mill in Cochrane, Ontario, for approximately 8 weeks due to poor market conditions.
The curtailment is scheduled to begin on 23 November 2007, and will result in the temporary layoff of approximately 200 people.
“The decision to take downtime at Cochrane was difficult but necessary due to the significant decline in U.S. housing starts and the escalating Canadian dollar,” said Jean Roy, Norbord’s vice-president of Northern Operations. “Good work has been done by the team at our Cochrane mill to contain costs. Unfortunately, current conditions make it financially unacceptable for us to continue production at this time.”
Built in 1964, the hardwood plywood plant was acquired by Norbord in 1989. Annual production capacity at the mill is 80 MMsf (3/8-inches).
Norbord Inc. is an international producer of wood-based panels and is a publicly traded company listed on the TSX under the symbol NBD. |
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