Boise Cascade to cut back lumber production in Alabama, affecting 80 jobs

Shares of Boise Cascade Co. (BCC) fell 0.8% in morning trading Tuesday, to pull back from the previous session's record close, after the wood products maker announced an "indefinite curtailment" of lumber production at Chapman, Ala. plant. The company said 80 jobs will be affected by the curtailment. "[A] a combination of of challenges, including required future investments and overall profitability, has led to this decision," said Chris Seymour, senior vice president of manufacturing operations. "It was a difficult and unfortunate decision, but after evaluating a number of factors over the past year, it is not feasible to continue operating at an efficient level." The company said it is talking to the affected employees about job opportunities within the company as well as about resources available to them. The stock has rocketed 66.6% year to date, while the S&P 500 has advanced 18.4%.

-Tomi Kilgore

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11-28-23 0940ET

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