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
FLAMEX Names New President
FLAMEX Inc. announced Tony Thomas as its new President, succeeding Allen Wagoner after 13 years at that post. Thomas has been with the company for almost 32 years and has been serving as Vice President. Ed Pridgen assumes the role as Vice President in addition to his position as MINFOG Product Manager…
GP Announces Multi-Million Dollar Projects At Clarendon OSB
Georgia-Pacific recently announced a $20 million addition to its oriented strandboard (OSB) facility in Alcolu, South Carolina. The major scope of the project will be to add a third strander to the behemoth facility, which will increase the annual output of…
Egger Plans Third TFL Line
Egger Wood Products will invest $20 million for an additional thermally fused laminate (TFL) production line at the company’s sole U.S. location in Lexington, NC. The company’s Supervisory Board announced the investment, part of completion for Phase I work at the site, after visiting the U.S. plant for its…
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!