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
Babine Forest Products To Appeal Record $1.01 Million Fine For Fatal Explosion
Babine Forest Products announced Thursday it plans to appeal a $1.01-million penalty, the highest ever levied by WorkSafeBC, for a fatal explosion and fire at its Burns Lake sawmill. In a statement Thursday, the company…
West Fraser Continues To Grow In The U.S. South And Western Canada
West Fraser continues to grow its lumber business in the U.S. South and in western Canada. The company announced that it has entered into an agreement to acquire the Bibler Brothers Lumber sawmill and lumber…
Canadian Softwood Lumber Exporters To Get Refunds Following Ruling
Canada says it has won an international ruling on export charges levied under the Canada-U.S. softwood lumber agreement. Trade Minister Ed Fast says the London Court of International Arbitration has ruled in favor of the…
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.