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
OSU Receives $6 Million Pledge From Sierra Pacific Industries
California-based Sierra Pacific Industries, one of the largest lumber companies in the United States, has pledged $6 million to the College of Forestry at Oregon State University for its new advanced wood products laboratory. In…
Lumber Prices Down Sharply; Montana’s Tricon Timber Announces Layoffs
A weak Loonie, an expiring softwood agreement and poor demand from Asia has lumber prices down sharply in the Pacific Northwest. F.H. Stoltze Land and Lumber in Columbia Falls has not had any layoffs due…
Plum Creek, USDA Support Promo Effort
Article by Dan Shell, Managing Editor Recent announcements dovetail nicely with the SmartLam feature article running in this issue on page 32 that details the background, current operations and future plans of the first U.S.…
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.