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
Stella-Jones Invests As Wood Products Sales Rise
Stella-Jones Inc. says its pressure treated wood products sales rose 34% during the second quarter, as demand for utility poles and railroad ties were buoyed by the general economic recovery. Integration of the recently acquired…
Greenpeace Canada Fights Back Against Resolute Forest Products Lawsuit
A Superior Court judge in Thunder Bay is reserving his ruling in the first battle of what is expected to be a long courtroom war between Resolute Forest Products and Greenpeace Canada. The forestry giant…
Wide Lumber Boosts Profits In Southern Pine Region
A bench marking study recently completed by The Beck Group reveals that among producers of Southern Pine lumber, mills focused on producing wide lumber (particularly 2×12) were more profitable in 2012 than mills that were…
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.