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
Where People And Technologies Fit Together
Article by Rich Donnell, Editor-in-Chief, Timber Processing (2013) A couple of months ago I wrote in this space of my concern for the extinction of the Southern independent lumberman. I cited some corporate purchases of…
China Still Buying As U.S. Lumber Market Bounces Back
The recent visit by the Council of Forest Industries brought out some of the industry’s heaviest hitters, and also the news that U.S. lumber markets continue to bounce back. It was acknowledged by COFI board…
Sierra Pacific To Reinvest Big In New California Sawmill
Sierra Pacific Industries today announced it will rebuild its large-log sawmill located in the Plumas County city of Quincy, beginning in early 2014. The existing mill will be taken down and completely rebuilt to a…
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.