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.
Latest News
Norbord, Ainsworth Lumber Await Go-Ahead From U.S. Justice Dept.
From: Panel World Staff Norbord Inc. and Ainsworth Lumber Co. Ltd. announced that the Supreme Court of British Columbia has granted a final order approving the previously announced merger of Norbord and Ainsworth. Meanwhile Norbord…
Uniboard Invests $53 Million In Particleboard, TFL Plant
Uniboard announced it will invest more than $53 million at its Val-d’Or particleboard and thermally fused laminate (TFL) facility as part of the panel producer’s plan to increase productivity and upgrade key production areas. The…
Winston Plywood & Veneer Hosts Mississippi Groundbreaking
From: Panel World Staff Mississippi Gov. Phil Bryant and officials from Winston Plywood and Veneer held a groundbreaking ceremony January 30 at the site of the company’s new manufacturing facility in Louisville, Miss. The project…
Find Us On Social
Newsletter
The monthly Panel World Industry Newsletter reaches over 3,000 who represent primary panel production operations.
Subscribe/Renew
Panel World is delivered six times per year to North American and international professionals, who represent primary panel production operations. Subscriptions are FREE to qualified individuals.
Advertise
Complete the online form so we can direct you to the appropriate Sales Representative. Contact us today!