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
Canada, U.S. At Loggerheads Again Over Softwood Lumber
With less than a year to go until the Canada-U.S. Softwood Lumber Agreement expires, lines are being drawn on both sides of the border over the future of lumber trade between the two countries. Canadian…
New Technology Transforms Sawmill Wood Waste Into High-Value Hardwood
Sawmills will soon be able to turn wood waste into high-value hardwood products, helping them increase profits at a difficult time. Company 3RT has partnered with Flinders University to develop a machine that cuts wood…
Universal Forest Products Acquires Texas Lumber Firm
A subsidiary of Grand Rapids-based Universal Forest Products Inc. (UFPI) has acquired certain assets of Dallas-based Bigs Packaging and Lumber LLC, the company announced today. Founded in 2011, Bigs Packaging is a manufacturer of industrial…
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.