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
Lumber Markets In The U.S. Improving
The North American lumber market has, to a large extent, been a buyers market since the beginning of the financial crisis in 2008, but is now shifting to a sellers market with the increase in…
West Coast Log, Lumber Exports Down In First Half Of 2012
Log exports from Washington, Oregon, northern California, and Alaska totaled 736 million board feet in the first 6 months of 2012, a decrease of 25% compared to the same time last year, according to the…
Sierra Pacific Industries Reports Record Losses In Recent Wildfires
A record amount of Sierra Pacific Industries land has been torched by the wildfires burning in eastern Shasta County. The nation’s second-largest timber producer estimated that roughly 33,000 acres of its timber had burned as…
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.