VANCOUVER, British Columbia (Reuters) - International Forest Products Ltd will permanently close its already idled Queensboro sawmill and sell the property near Vancouver, the company said on Tuesday.
Interfor said it expects to take a C$21 million after-tax charge, or about 44 Canadian cents a share, in the second quarter because of the closure of the facility in New Westminster, British Columbia.
Interfor said it expects the asset charge will be more than offset in the future by proceeds from the land sale.
The mill has been idled for more than a year, and 95 of the plant's 110 employees have already accepted the company's severance offer, Interfor said.
(Reporting Allan Dowd, editing by Rob Wilson)
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