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
U.S. Lumber Sector Stable As Housing Starts Pass 1 Million Mark
Market stability is returning for manufacturers, distributors, and sellers of North American forest products as U.S. housing starts have now found a floor, writes Keta Kosman in Madison’s Lumber Reporter. As of November 2013, housing…
Conifex Timber Announces Acquisition Of Lignum Forest Products
googletag.cmd.push(function() { googletag.display(‘div-gpt-ad-1548381510056-0’); }); Conifex Timber Inc. today announced that it has entered into a definitive purchase agreement to acquire Lignum Forest Products LLP, a private partnership which operates a lumber marketing and distribution business.…
U.S. Hardwood Lumber Demand To See Seasonal Increases In February
The Weekly Hardwood Review Leading Hardwood Demand Indicator (LHDI)—a forecast of future demand for U.S. hardwood lumber based on residential and commercial construction, import/export trends, inflation levels, and job markets—declined to a nine-month low of…
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.