National Business News

Timber firm halting operations at south Arkansas sawmill

The Associated Press
Posted: Aug. 14, 2019 7:00 am Updated: Aug. 14, 2019 5:20 pm

LITTLE ROCK, Ark. (AP) A Canadian timber company says it's ceasing operations at its sawmill in south Arkansas, a move the firm says will affect about 92 employees.

Conifex Timber Inc. said Wednesday it will phase in the curtailment of its El Dorado sawmill over the next 60 days.

The company's CEO says lumber prices are too modest to justify continued operations at the site. He says the company hopes to restart the mill as soon as it can, but it first needs to identify the scope of capital investment needed to modernize it.

A spokeswoman says the company will keep a few maintenance workers at the site to ensure a more efficient restart.

Conifex in 2017 announced it was spending $80 million to update and restart the mill, formerly owned by Georgia Pacific.