Canfor’s Vida Group Buys Sweden Mills
Canfor Corp. executives announced in mid June that Canfor’s 70%-owned subsidiary, Vida Group, has entered into an agreement to purchase three sawmills located in Sweden from Bergs Timber for $43 million (Can.), plus working capital. The transaction is expected to close in the third quarter of 2020.
The mills, in Vimmerby, Mörlunda and Orrefors, Sweden, add approximately 215MMBF to Vida’s annual capacity. According to a company release, after the acquisition, Sweden will represent 22% of Canfor’s global operating platforms, plus 43% in British Columbia, 31% in the Southern U.S. and 4% in Alberta.
The release added that following downtime related to the coronavirus pandemic, Vida is now operating at full capacity, and Canfor’s North America sawmills are operating at almost full capacity as of June 18, 2020.
RELATED ARTICLES
Canfor Plans New Sawmill In Louisiana
No-Go On Proposed Purchase Of Canfor
Latest News
Georgia-Pacific Announces New $150 Million Georgia Sawmill
googletag.cmd.push(function() { googletag.display(‘div-gpt-ad-1548381510056-0’); }); Georgia-Pacific announced plans to build a new regional lumber production facility at the Albany-Dougherty Industrial Park in east Albany on U.S. Highway 82. Construction on the $150 million, 320,000-square-foot, technologically advanced…
Canfor Says It Paid Over $50 Million To U.S. In Countervailing Duties
Canfor Corporation says it paid $51.7 million in countervailing duties in the second quarter, the result of U.S. tariffs that went into force in 2017. Canfor, which sells more than half of its lumber to…
Will Strong Lumber Prices Bring A New Dawn For U.S. Producers?
In the last few months, lumber supply from Canada, United States’ biggest lumber provider, was shaken by a slew of factors like insect attack, forest fires and shortage of transportation. President Trump’s decision to impose…
Find Us On Social
Newsletter
The monthly Timber Processing Industry Newsletter reaches over 4,000 mill owners and supervisors.
Subscribe/Renew
Timber Processing is delivered 10 times per year to subscribers who represent sawmill ownership, management and supervisory personnel and corporate executives. Subscriptions are FREE to qualified individuals.
Advertise
Complete the online form so we can direct you to the appropriate Sales Representative.