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
Housing Helps U.S. Hardwood Lumber Sales Improve Faster Than Exports
While U.S. hardwood exports lagged in May and June 2015, domestic demand for hardwood lumber continued to improve. Home construction, which dipped in May, was set to move higher, as both permitting and builder confidence…
B.C.’s Forest Products Industry Restructures For Expected Recovery
A trend whereby B.C. forest products companies have been snapping up sawmills south of the border while shuttering plants here is likely to continue. That prediction, from a new Conference Board report, is part of…
Northwest Sawmills Struggle To Break Even With Thinning On Public Lands
The Finnish hew saw at Duane Vaagen’s mill can make two two-by-fours from a tree no thicker than a loaf of bread. “The magic,” he says, as logs rattle by and emerge seconds later as…
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.