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
Canada Pounces On NAFTA Ruling
Bruce Ralston, Canada Minister of Forests, released a statement in response to a North American Free Trade Agreement (NAFTA) panel ruling on Canada’s challenge of the U.S. Department of Commerce’s final dumping determination on softwood lumber…
Delta Computer Systems Enhances Identity, Leadership
Delta Computer Systems, Inc., a manufacturer specializing in industrial hydraulic motion controllers, is introducing a new business trade name, Delta Motion. Also at this time, Delta Motion announces a new and expanded slate of officers…
BID Group Acquires Quebec’s YGE
BID Group has completed its acquisition of YGE Inc., further enhancing BID’s product offerings within the wood processing saw and tooling sector. YGE Inc. is a supplier and service provider specializing in top-tier saw guides, grinders, and critical consumables catering to the wood processing industry…
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.