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
Montana Lumber Company Looks To The Future Of The Timber Industry
Pyramid Mountain Lumber Company in Seeley Lake is the oldest surviving family-owned and operated lumber mill in Montana, surviving a decline in the housing market and operating on a decreasing supply of raw materials. “We’ve…
Interfor To Acquire Keadle Lumber In Georgia
International Forest Products Limited (Interfor) announced today that it had reached agreement in principle to acquire the assets of Keadle Lumber Enterprises, Inc. of Thomaston, Georgia. Keadle is a well-regarded producer of high quality southern…
Reality Check: U.S. Lumber Prices Off Highs After Supply Surge
U.S. lumber prices are falling in response to a late, cold spring in some parts of the country, and to a sharp first-quarter production increase by mills that may have overestimated gains in housing starts,…
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.