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
North American Timber Harvests Up For Fourth Consecutive Year
Timber harvests in North America were up for the fourth consecutive year in 2013, reaching 510 million m3, based on analysis by WRI (Wood Resource International). Despite an annual increase of three percent each of…
U.S. Lumber Prices Soften In Seasonal Slowdown
U.S. lumber prices softened in mid-September on a seasonal lull in construction industry orders during another year in which hopes for strong gains in housing starts were disappointed, industry experts said. The framing lumber composite…
Behind The Scenes
Story by David Abbott, Senior Associate Editor In late July and early August my job took me to Ohio and West Virginia, primarily on behalf of companion periodical Timber Harvesting magazine. I was assigned to…
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.