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
Maine Sawmill Workers Face Temporary Layoff
A Quebec-based company that completed the purchase of Fraser Timber’s lumber mill in Masardis in January will temporarily layoff its 135 employees next week due to market conditions. The layoff at Maibec will last four…
On The Verge Of Something Or Nothing?
Article by Rich Donnell, Editor-In-Chief The majority of this issue—nearly 30 pages in fact—is devoted to the results of our annual Sawmill Capital Expenditure Survey. Again we’ve broken it down into two sections—softwood lumber and…
Washington Lumber Mill Closing After 75 Years
googletag.cmd.push(function() { googletag.display(‘div-gpt-ad-1548381510056-0’); }); The last lumber mill in Snohomish is closing after almost 75 years due to low demand. The Daily Herald of Everett reports that the Seattle-Snohomish Mill plans to close this summer,…
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.