Our roundup of Canadian small-caps of between $100-million and $2.5-billion in market capitalization making news and on the move today.
Canfor Pulp Products Inc. (CFX-T) announced temporary northern bleached softwood kraft (NBSK) and bleached chemical thermo-mechanical pulp (BCTMP) production reductions at Northwood Pulp and Taylor Pulp as a result of “significant transportation interruptions” happening in B.C.
The company said its pulp shipments have declined due to the recent weather-related transportation disruptions, including extreme rainfall and flooding in the province.
“With pulp mill inventories nearing capacity, the company’s pulp production will be reduced until such time as the B.C. transportation network is able to return to more normal operating conditions,” the company stated. “This will result in reduced production achieved through a minimum two-week curtailment of Canfor’s NBSK production at Northwood Pulp and a minimum four-week curtailment of the production of BCTMP at Taylor Pulp. "
Major Drilling Group International Inc. (MDI-T) reported revenue of $170.7-million, up 50 per cent compared to the same period last year and ahead of expectations of $162.5-million.
Net earnings of $14.3-million or 17 cents per share, which the company said was its highest in nine years and up about 100 per cent from the same period last year, which was $7-million or 9 cents per share. Analysts were expecting earnings of 16 cents
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