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
Colorado Homebuilders Called To Use Beetle-Killed Timber
Senator Mark Udall recently called on Colorado homebuilders to use beetle-killed trees to build homes, thus clearing local forests of hazardous trees and creating jobs in the process. At an event showcasing a home built…
Washington Based Stimson Lumber Mill Facing Closure
The Washington State Employment Security Department said last week that the Stimson Lumber Mill in Arden, Wash. will layoff 67 of its workers in November and eventually shut down the mill. The 67 impending layoffs…
Bandit Industries Receives EPA Award
Bandit Industries, Remus, Mich., recently received an Environmental Protection Agency award in recognition of efforts to reduce hazardous chemicals through the National Partnership for Environmental Priorities (NPEP) program. The award was presented to Bandit Industries…
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.