Articles from Interfor Corporation

Analyst Conference Call – 8:00 a.m. Pacific, Friday, February 14, 2025

BURNABY, British Columbia, Jan. 10, 2025 (GLOBE NEWSWIRE) -- INTERFOR CORPORATION (“Interfor” or the “Company”) (TSX: IFP) announced today that it has completed the previously announced divestiture of its operations in Québec, Canada to Les Chantiers de Chibougamau Ltée. These operations include the sawmills in Val-d’Or and Matagami, as well as the Sullivan remanufacturing plant in Val-d’Or.

Adjusted EBITDA loss of $22 million and Net Loss of $106 million

BURNABY, British Columbia, Oct. 16, 2024 (GLOBE NEWSWIRE) -- INTERFOR CORPORATION (“Interfor” or the “Company”) (TSX: IFP) announced today plans to exit its operations in Québec, Canada, including the sale of its three manufacturing facilities and the closure of its Montréal corporate office. This strategic initiative will support a focus on the areas of highest future potential across the remainder of the Company.

Analyst Conference Call – 8:00 a.m. Pacific, Thursday, November 7, 2024

BURNABY, British Columbia, Aug. 19, 2024 (GLOBE NEWSWIRE) -- INTERFOR CORPORATION (“Interfor” or the “Company”) (TSX: IFP) announced today that it will indefinitely curtail operations at its sawmills in Meldrim, Georgia and Summerville, South Carolina. These curtailments are in response to persistently weak lumber market conditions.

Adjusted EBITDA loss of $17 million and Net Loss of $76 million

Analyst Conference Call – 8:00 a.m. Pacific, Friday, August 9, 2024

BURNABY, British Columbia, May 09, 2024 (GLOBE NEWSWIRE) -- INTERFOR CORPORATION (“Interfor” or the “Company”) (TSX: IFP) announced the voting results for the election of its Board of Directors, which took place at the Company’s Annual General Meeting held today in Vancouver, British Columbia. A total of 37,724,030 common shares were voted by proxy at the meeting representing 73.33% of the votes attached to all outstanding shares. The nominees listed in the management information circular dated March 13, 2024, were elected as directors of the Company and detailed results of the votes cast by proxy are set out below:  

Adjusted EBITDA loss of $22 million and Net Loss of $73 million

BURNABY, British Columbia, April 30, 2024 (GLOBE NEWSWIRE) -- INTERFOR CORPORATION (“Interfor” or the “Company”) (TSX: IFP) today announced plans to reduce its lumber production by approximately 175 million board feet between May and September of 2024, representing just under 10% of its normal operating stance.

Analyst Conference Call – 8:00 a.m. Pacific, Friday, May 10, 2024

BURNABY, British Columbia, March 05, 2024 (GLOBE NEWSWIRE) -- INTERFOR CORPORATION (“Interfor” or the “Company”) (TSX: IFP) is pleased to announce the appointment of Christina Sistrunk of Lumberton, Mississippi as an independent director of the Company. Ms. Sistrunk served as President and CEO of Aera Energy, LLC (an independent upstream oil and gas company) between 2015 and 2020. Prior to this, Ms. Sistrunk held multiple roles with increasing responsibility over her 17-year career at Shell, including Vice President roles (leadership of Arctic strategy development from 2014 to 2015, and of Gulf of Mexico production from 2009 to 2014). Ms. Sistrunk currently serves on the External Advisory Council for The Ohio State University College of Engineering, and on the Advisory Board for Renewell Energy. She holds a BS Chemical Engineering from The Ohio State University.

BURNABY, British Columbia, Feb. 15, 2024 (GLOBE NEWSWIRE) -- INTERFOR CORPORATION (“Interfor” or the “Company”) (TSX: IFP) announced today that it will indefinitely curtail its sawmill operations in Philomath, Oregon. This curtailment is in response to persistent high log costs in the region and ongoing weak lumber market conditions.

Adjusted EBITDA loss of $51 million and Net Loss of $169 million

Analyst Conference Call – 8:00 a.m. Pacific, Friday, February 9, 2024

BURNABY, British Columbia, Nov. 08, 2023 (GLOBE NEWSWIRE) -- INTERFOR CORPORATION (“Interfor” or the “Company”) (TSX: IFP) announced today that the Toronto Stock Exchange (“TSX”) has approved the renewal by the Company of its Normal Course Issuer Bid (“NCIB”).

Adjusted EBITDA of $32 million and Net Loss of $42 million

BURNABY, British Columbia, Oct. 25, 2023 (GLOBE NEWSWIRE) -- INTERFOR CORPORATION (“Interfor” or the “Company”) (TSX: IFP) is pleased to announce the appointment of Geoffrey Evans of Naples, Florida as an independent director of the Company. Mr. Evans held an executive leadership role at Boeing focused on strategy and business development prior to his retirement. His nearly 40-year career included progressively senior roles at Boeing, Eaton, and Lockheed Martin, as well as President, CEO and board member of Tapestry Solutions, a Boeing subsidiary. Mr. Evans is also a board member of a not-for-profit organization.

Analyst Conference Call – 8:00 a.m. Pacific, Friday, November 3, 2023

Adjusted EBITDA of $42 million and Net Loss of $14 million

Analyst Conference Call – 8:00 a.m. Pacific, Friday, August 4, 2023

BURNABY, British Columbia, May 19, 2023 (GLOBE NEWSWIRE) -- INTERFOR CORPORATION (“Interfor” or the “Company”) (TSX: IFP) is pleased to announce the appointment of Nicolle Butcher of Toronto, Ontario as an independent director of the Company, effective May 19, 2023. Ms. Butcher is the Chief Operating Officer of Ontario Power Generation (OPG), where she has held a wide range of roles with increasing responsibility over the past 22 years. She has served as Chair of the Board of both Eagle Creek Renewable Energy (OPG’s US hydro subsidiary) and Atura Power (OPG’s fleet of combined cycle gas plants) and as a member of the MaRS-Advanced Energy Centre Advisory Board of Directors. In 2021, Ms. Butcher was named one of Canada’s Top 100 Most Powerful Women and named Women of the Year by WIRE (Women in Renewable Energy) and APPRO (Association of Power Producers of Ontario). She holds an MBA from McGill University, is a Chartered Business Valuator, and has earned an ICD.D designation from the Institute of Corporate Directors.

BURNABY, British Columbia, May 04, 2023 (GLOBE NEWSWIRE) -- INTERFOR CORPORATION (“Interfor” or the “Company”) (TSX: IFP) announced the voting results for the election of its Board of Directors, which took place at the Company’s Annual General Meeting held today in Montreal, Quebec. A total of 37,222,951 common shares were voted by proxy and in person at the meeting representing 72.36% of the votes attached to all outstanding shares. The nominees listed in the management information circular dated March 8, 2023, were elected as directors of the Company and detailed results of the votes cast by proxy and in person are set out below:  

Adjusted EBITDA of $26 million and Net Loss of $41 million

Analyst Conference Call – 8:00 a.m. Pacific, Friday, May 5, 2023

Adjusted EBITDA loss of $69 million and Net Loss of $72 million

BURNABY, British Columbia, Jan. 11, 2023 (GLOBE NEWSWIRE) -- INTERFOR CORPORATION (“Interfor” or the “Company”) (TSX: IFP) announced plans to reduce its lumber production output in the first quarter of 2023 by at least 100 million board feet, or 8% of quarterly capacity, as economic conditions and market uncertainty continue to impact lumber demand. This temporary reduction in output is expected to be mostly concentrated outside of Interfor’s US South operating region.

Analyst Conference Call – 8:00 a.m. Pacific, Friday, February 10, 2023

BURNABY, British Columbia, Nov. 30, 2022 (GLOBE NEWSWIRE) -- INTERFOR CORPORATION (“Interfor” or the “Company”) (TSX: IFP) announced today that it has completed the previously announced transaction to acquire 100% of the equity interests in the entities comprising Chaleur Forest Products (“Chaleur”) in New Brunswick, Canada from an affiliate of the Kilmer Group.

Adjusted EBITDA of $129.5 million and Net Earnings of $3.5 million

BURNABY, British Columbia, Oct. 20, 2022 (GLOBE NEWSWIRE) -- INTERFOR CORPORATION (“Interfor” or the “Company”) (TSX: IFP) announced plans to reduce its lumber production output in the fourth quarter of 2022 by approximately 200 million board feet, or 17% of quarterly capacity, as current economic conditions and market uncertainty have led to reduced lumber demand. This temporary reduction in output is expected to be spread across each of the Company’s operating regions, primarily timed around U.S. Thanksgiving and Christmas holiday periods, and used to accelerate ongoing capital and maintenance projects.

Analyst Conference Call – 8:00 a.m. Pacific, Friday, November 4, 2022

BURNABY, British Columbia, Oct. 03, 2022 (GLOBE NEWSWIRE) -- INTERFOR CORPORATION (“Interfor” or the “Company”) (TSX: IFP) announced today that it has reached an agreement with an affiliate of the Kilmer Group (“Kilmer”) to acquire 100% of the equity interests in the entities comprising Chaleur Forest Products (“Chaleur”).

BURNABY, British Columbia, July 26, 2022 (GLOBE NEWSWIRE) -- INTERFOR CORPORATION (“Interfor” or the “Company”) (TSX: IFP) announced today its intention to commence a substantial issuer bid (the “Offer”) pursuant to which the Company will offer to purchase up to $100,000,000 in value of its outstanding common shares (the “Shares”) for cancellation from holders of Shares (the “Shareholders”) for cash. The Offer will proceed by way of a “modified Dutch auction” procedure with a tender price range from $29.00 to $34.00 per Share, representing a 3.5% to a 21.3% premium over the Company’s volume-weighted average price on the Toronto Stock Exchange over the last 20 trading days.