Tough market conditions cut Nexfor‘s operating earnings by C$7m to C$18m in the third quarter of 2001.
The company is blaming the fall on the US Department of Commerce‘s imposition of a 19.3% countervail duty on Canadian softwood lumber shipped to the US, along with flat demand.
Net sales were C$518m in the third quarter of 2001, 2% below the preceding quarter. Sales of OSB and lumber were essentially unchanged quarter over quarter as lower prices were offset by higher shipments.
